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E-Glossary
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macrosegmentation
Method of dividing business markets based on such General characteristics
as geographic location, type of organization, customer size, and product
use. Resultant segments should be accessible, identifiable, measurable,
have some predictable responsiveness, and be large enough to be worthwhile.
marketing
Marketing refers to the plan for getting a product out to the people
who need it, but first those people have to be convinced that they do indeed
need the product the marketing person is trying to sell. Marketing includes
figuring out just who it is who needs the product (or can be talked into
needing it), plus advertising strategies, merchandising, pricing, distribution,
etc. Marketing, rather than the quality of the product, is often the key
to whether a product is successful or not.
marketing mix
The mix of product, promotion, distribution, and price that marketers
use to market a product. The mix has to be changed and tuned until the
right mix is found.
marketing myopia
Business defined in terms of goods and services rather than in terms
of the benefits that customers seek.
market penetration
Measure of a company strategy that increases market share for a firm.
market potential
Put definition here.
market segment
A group of people or firms sharing one or more characteristics that
cause them to have similar product needs.
market-share
Calculated promotion needed to win a market share. A new product
requires a heavier promotion budget to build products awareness and educate
the target market. A market-share is expressed in revenue or units.
Market-share and return are strongly related. Market-share
reports enable companies to track their performance in various products
over time.
marketspace
This is a new term used to describe the transition from traditional
markets defined by physical location, to virtual markets based on, and
controlled by information. "Unlike the physically defined 'marketplace,'
the marketspace refers to an electronic- or information-defined arena in
which business activity can occur, margin can be created, and value can
be extracted." (Rayport & Sviokla)
message tailoring
As a result of the precise target marketing that can be done on the
Web, messages can be designed to appeal to the specific needs and wants
of the target audience.
META tags
META tags are another html tag which give "behind the scenes" information.
The most common use of the META tag is to define keywords for search engines
by which the author of the webpage suggests their website to be indexed.
Another META tag allows for the webpage author to offer a description of
the webpage for the search engines to use.
micro payments
Micropayments consist of digital coins, currency, and coupons that
assist merchants and consumers in their attempt to conduct secure transactions
on the web. Digital payments contain encrypted information about
the customer that allows the corporation to track that customer's spending
patterns, as well as, provide a safe platform for business transactions.
microcash
Microcash is a form of electronic currency. Because electronic currency
is strictly numerical there are no denominations per se, thus allowing
‘sub-denomination’ transactions of fractions of a cent.
multi-level marketing
Multi-level or network marketing is a method of marketing products
and services through independent representives who refer customers to the
multi-level company they represent.
multinational corporation
Company that moves resources, goods, services, and skills across national
boundaries without regard to the country in which the headquarters is located.
The number of these is growing, partly facilitated by the growth of electronic
commerce.
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