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Merchants, Click
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E-Glossary
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password
A secret word or phrase used to identify oneself whom is permitted
to enter a place or have access to gain information.
perception
The impression most commonly held by your target market about your
product, service or company. Perceptions may not necessarily reflect reality.
preferred position
A requested advertising location in a periodical or magazine, such
as the front page or the back cover.
price-skimming
Price-skimming is an approach to pricing that "skims the top"
of new products to offer unique advantages to the customer. A customer
will pay outrageous prices for a HDTV for the advantages it will
offer and prestige. As HDTV progresses through its life cycle the
price will change to successfully reach larger market segments. This
strategy works because the market is willing to buy the product at an above-average
price. Mazda used this strategy with their Miata, placing the little
convertible on showroom floors increasing the demand while slowing down
supply at the same time increasing the price. Intel did the same
with their Pentium computer chips at $900 for purchase in large lots by
computer manufactures.
product differentiation
A marketing plan designed to distinguish one firm's product from the
product of the competitors.
profit impact of market strategy (PIMS)
Method for analyzing strategic alternatives that involves consulting
a database summarizing the financial and market performance of 3,000 strategic
business units of more than 450 firms. This database is provided
by The Strategic Planning Institute, www.thespinet.org (site still under
construction).
promotion
That part of the marketing mix which relates to creating awareness,
effecting perception and consummating the sale of your product or service;
includes both personal and non-personal.
promo(tional announcement)
A non-revenue-producing announcement promoting an event by/for the
business concern. EXAMPLE: A LOCAL TV STATION PROMOTING A SPECIAL
ONE-HOUR PROGRAM ENTITLED, "CLINTON vs LARRY FLINT: WHO IS SLEAZIER?"
pulling power
The ability of an ad to fulfill or create its desired purpose.
pulling power
An encryption system that uses two keys, a public key for
encrypting messages and a private key for decrypting
messages, to enable users to verify each other's messages
without exchanging secret keys.
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