GLOSSARY

NRC 10 - 2669

UNIVERSITY MINUTE OF GOD

PRODUCTS AND
SERVICES
MARKET

Jose Bautista
ID 826298

Nilson Florez
ID 670672
Miguel
Rodríguez ID
636604

FACULTY OF
ENGINEERING

2023
 LEARN MARKETING
GLOSSARY

Close up
1 STEP IN THE SALES
PROCESS IN
WHICH THE
SALESPERSON
CONTACT THE CUSTOMER
FOR THE FIRST TIME.

previous 2

approach
STEP IN THE SALES PROCESS

IN WHICH THE SALESPERSON

LEARN AS MUCH AS
POSSIBLE ABOUT A
POTENTIAL CUSTOMER
BEFORE

Attitude TO CONTACT HIM.

3 CONSISTENT RATINGS,

SENTIMENTS,
AND TRENDS
FAVORABLE OR
UNFAVORABLE MIND THAT
AN INDIVIDUAL SHOWS
TOWARDS marketing 4
AN OBJECT OR IDEA.

concept
PHILOSOPHY ACCORDING TO

WHICH THE ACHIEVEMENT OF

MARKETING GOALS DEPENDS ON
KNOWLEDGE OF THE NEEDS

production AND THE DESIRES OF THE TARGET

MARKETS, AS WELL AS THE
DELIVERY OF THE
concept DESIRED SATISFIERS BETTER THAN
5IDEA THAT CONSUMERS FAVOR COMPETITORS.

hePRODUCTS THAT
THEY WILL SEE THE

ARE AVAILABLE AND VERY AFFORDABLE;

THEREFORE, THE ORGANIZATION SHOULD
FOCUS ON IMPROVING THE EFFICIENCY
SCIENCE OF ITS PRODUCTION AND
DISTRIBUTION.
sales concept6

IDEA THAT CONSUMERS

WILL NOT BUY
ENOUGH COMPANY
PRODUCTS UNLESS THE
COMPANY UNDERTAKES A

SWOT analysis LARGE-SCALE SALES AND

PROMOTION EFFORT.
7

GENERAL ASSESSMENT OF

STRENGTHS (F), OPPORTU

STRENGTHS (O),
WEAKNESSES (D) AND
THREATS (A) OF THE
COMPANY Value chain 8

THE SERIES OF INTERNAL

DEPARTMENTS THAT CARRY
CARRY OUT VALUE-GENERATING
ACTIVITIES TO DESIGN, PRODUCE,
MARKET, DELIVER AND SUPPORT
THE COMPANY'S PRODUCTS

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 LEARN MARKETING
GLOSSARY

Service
expiration
9 CONCEPT ACCORDING TO
WHICH SERVICES DO NOT
THEY CAN BE STORED FOR

LATER USE OR SALE.

Product quality10

THE CHARACTERISTICS OF
A PRODUCT OR BEING
VICE THAT DEPEND ON
THEIR ABILITY TO SATISFY
THE NEEDS
EXPRESSED OR IMPLIED BY
Attitude CONSUMERS
11 CONSISTENT RATINGS,

SENTIMENTS,
AND TRENDS

FAVORABLE OR
UNFAVORABLE MIND THAT
AN INDIVIDUAL SHOWS
TOWARDS
marketing
12
AN OBJECT OR IDEA.

concept
PHILOSOPHY ACCORDING TO

WHICH THE ACHIEVEMENT OF

MARKETING GOALS DEPENDS ON
KNOWLEDGE OF THE NEEDS

Marketing AND THE DESIRES OF THE TARGET

MARKETS, AS WELL AS THE
DELIVERY OF THE
channel DESIRED SATISFIERS BETTER THAN
13 SET OF GOLD
COMPETITORS.

INTERDEPENDENT ORGANIZATIONS THAT

CONTRIBUTE TO A PRODUCT
I
OR SERVICE IS AVAILABLE FOR USE OR
CONSUMPTION BY THE Product Life
CONSUMER OR BUSINESS USER.

Cycle (CVP)
14

OF SALES
THE COURSE AND
GA
NANCES OF A PRODUCT OR
THROUGHOUT ITS LIFE
growth stage CYCLE.

15
STAGE OF
THE CVP IN
WHICH THE SALES OF A
PRODUCT BEGIN TO RISE
RAPIDLY.
) OF THE COMPANY
16

decline stage

STAGE OF THE CVP IN WHICH

OF THE
THE SALES
PRODUCT IS DECREASING.

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 LEARN MARKETING
GLOSSARY

maturity stage

17 STAGE OF THE CVP WHERE

THE GROWTH OF

SALES OF A PRODUCT
DECREASE OR REACH A
CONSTANT LEVEL.

introductory 18

stage

STAGE OF THE CVP IN

WHICH A NEW PRODUCT

IS DISTRIBUTED FOR THE

FIRST TIME, REMAINING
AVAILABLE FOR PURCHASE.

Brand

19
NAME, TERM, SIGN, SYMBOL, DESIGN,

OR COMBINATION
OF SAID ELEMENTS, WHICH

IDENTIFIES THE PRODUCTS OR

SERVICES OF
A SELLER OR GROUP OF SELLERS
Marketing
20
AND DIFFERENTIATES THEM FROM
THOSE OF THE
COMPETENCE

PROCESS BY WHICH COMPANIES

CREATE VALUE
. FOR CUSTOMERS AND BUILD

STRONG CONSUMER
RELATIONSHIPS
RES TO, IN EXCHANGE, OBTAIN
VALUE FROM THEM

Market

21OF ALL REAL BUYERS

SET
AND POWER
OF A PRODUCT OR SERVICE.
.

he 22
market
penetration
COMPANY GROWTH

THROUGH

OF YOUR
INCREASED SALES
CURRENT PRODUCTS—NO

CHANGE
product ANY—TO CURRENT MARKET
SEGMENTS
position
23 .

THE WAY A PRODUCT IS DEFINED

BY CONSUMERS REGARDING THEIR

IMPORTANT ATTRIBUTES, IN

COMPETING
COMPARISON WITH
PRODUCTS.

24
positioning
ARRANGEMENT OF A MARKET
OFFER TO
OCCUPY
A CLEAR, DISTINCTIVE AND
DESIRABLE PLACE
IN THE MINDS
OF CONSUMERS

TARGET PROVIDERS, COMPARED

TO COMPETING PRODUCTS.

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 LEARN MARKETING
GLOSSARY

Price
25
AMOUNT OF MONEY CHARGED FOR A
PRODUCT OR SERVICE
DUDE; SUM OF VALUES THAT
CUSTOMERS EXCHANGE FOR BENEFITS

CIOS OF HAVING OR USING THE

PRODUCT OR SERVICE.

26
Product
ANYTHING THAT CAN BE OFFERED TO
A MARKET

FOR YOUR ATTENTION, ACQUISITION,

USE OR CONSUMPTION, AND THAT
COULD SATISFY
MAKE A WANT OR NEED.

promotion
27

SHORT-TERM INCENTIVES TO

ENCOURAGE
PURCHASE OR SALE OF A PRODUCT

OR SERVICE
.

Advertising
28

ANY FORM OF PRESENTATION AND

PROMOTION OF
IDEAS, GOODS OR SERVICES MADE

SPONSOR.
BY AN IDENTIFIED

Public
29GROUP THAT HAS
AN ACTUAL OR
ANY
POTENTIAL INTEREST OR

AN IMPACT ON AN ORGANIZATION'S
ABILITY TO ACHIEVE ITS
GOALS.
.
. Customer
30
he

satisfaction
EXTENT TO WHICH

PERCEIVED PERFORMANCE

MATCHES
OF A PRODUCT
THE BUYER'S

EXPECTATIONS.
Market .

segmentation
31
DIVISION OF A MARKET INTO DIFFERENT

GROUPS OF BUYERS WITH DIFFERENT

NEEDS, CHARACTERISTICS OR
BEHAVIORS, AND THEREFORE MIGHT

REQUIRE PRODUCTS
OR SPECIFIC MARKETING PROGRAMS.
32

Service
ACTIVITY,
BELIEF OR
SATISFACTION THAT IS OFFERED

IN
SALE, AND WHICH IS ESSENTIALLY

DOES NOT
INTANGIBLE AND
RESULT IN
OWNERSHIP OF
SOMETHING

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 LEARN MARKETING
GLOSSARY
Service
variability
33
CONCEPT ACCORDING TO

QUALITY
WHICH THE

OF SERVICES COULD VARY GREATLY

DEPENDING ON WHO
PROVIDE THEM AND WHEN, WHERE
AND HOW.

34

Seller
AN INDIVIDUAL WHO REPRESENTS A
COMPANY TO CLIENTS
AND WHO PERFORMS ONE OR MORE
OF THE FOLLOWING ACTIVITIES:
PROSPECTING, COMMUNICATION,

SELLING, SERVICING, INFORMATION

tactical GATHERING
RELATIONSHIP BUILDING AND

marketing
35 BUILDING

CONSISTS OF THE COMMUNICATION

OF THE PRODUCT TO THE CONSUMER

Strategic 36

Planning

STRATEGIC PLANNING INVOLVES

DEVELOPING AN OVERALL

STRATEGY FOR THE LONG-TERM

GROWTH AND SURVIVAL OF THE

BUSINESS.
Strategy

GRIEGOS (STRATOS- EJERCITO AND

37

AGEIN (“CONDUCTOR”), IS AIMED AT

GENERATING PRODUCTS AND

SERVICES THAT MEET THE NEEDS

OF CUSTOMERS, MORE EFFECTIVELY
THAN THE COMPETITION, IN ORDER

l
TO GENERATE CUSTOMER LOYALTY
TO A COMPANY OR BRAND. IT IS A
PART OF MARKETING THAT HELPS
PLAN, DETERMINE, AND COORDINATE
OPERATIONAL ACTIVITIES.
38
. Tactic

IT IS THE SYSTEM OR
METHOD THAT YOU

DEVELOP TO EXECUTE OR

OBTAIN SOMETHING.
THE TERM IS ALSO USED TO
NAME THE ABILITY TO
Plaza APPLY SAID SYSTEM.

39

ACTIVITIES OF THE

COMPANY THAT MAKES THE PRODUCT

AVAILABLE

40
Micro return

THE COMPANY
FORCES CLOSE TO
THAT AFFECT ITS ABILITY TO
SERVE ITS

CUSTOMERS.

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 LEARN MARKETING
GLOSSARY

RELATIONAL
MARKETING
41
"PROFIT IN EXCHANGE FOR CUSTOMER

SATISFACTION". THE FUNDAMENTAL

PRINCIPLE OF RELATIONSHIP
MARKETING COULD BE CONDENSED IN
THE FOLLOWING SENTENCE: "DON'T
SELL, MAKE FRIENDS
AND THEY WILL
BUY FROM YOU".

DIRECT
42

MARKETING
IT IS AN INTERACTIVE MARKETING
SYSTEM THAT USES ONE OR MORE
ADVERTISING MEDIA TO OBTAIN A
MEASURABLE RESPONSE AND/OR A

TRANSACTION IN A CERTAIN PLACE.

Word of Mouth

Marketing
43
ONE OF THE MOST EFFECTIVE WAYS

TO SPREAD A COMPANY'S
DIFFERENTIATORS
AND STRENGTHS
IS WORD-OF-MOUTH MARKETING,
WHICH NOT ONLY OFFERS THE
BENEFIT OF CREDIBILITY BUT IS ALSO
GENERATED WITH MINIMAL Marketing Viral
44
MONETARY INVESTMENT. . VIRAL MARKETING IS A STRATEGY

THROUGH WHICH NETIZENS TRANSMIT

MARKETING MESSAGES TO FRIENDS

OFFERING THEIR
AND ACQUAINTANCES,
OPINION ABOUT A PRODUCT AND/OR
SERVICE, BUT WHICH REQUIRES BEING
POWERFUL AND CONVINCING ENOUGH
SO THAT IT CAN BE RETRANSMITTED
AND TAKEN INTO ACCOUNT. ACCOUNT
Marketing viral FOR THOSE WHO HAVE READ IT.

45 Activo

INACTIVE VIRAL MARKETING, THE

CLIENT ACTIVELY RECRUITS NEW

CUSTOMERS.
l

46
Macroenturn

IN SOCIETY
LARGER FORCES
THAT AFFECT THE ENTIRE

MICROENVIRONMENT.

Internal
environment of
47 the company
FUNCTIONAL AREAS
SUCH AS SENIOR
MANAGEMENT, FINANCE,
MANUFACTURING, ETC.

48
Suppliers
THEY PROVIDE
THE RESOURCES
NEEDED TO PRODUCE GOODS AND

SERVICES.

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 LEARN MARKETING
GLOSSARY

Marketing
intermediaries
49

HELP THE COMPANY TO PROMOTE,

SELL AND DISTRIBUTE ITS GOODS TO
FINAL BUYERS".

Customers
50
TYPES OF MARKETS THAT BUY A
FIRM'S GOODS AND SERVICES

Competitors
51
WHO SERVE A TARGET MARKET

WITH SIMILAR PRODUCTS AND

SERVICES.

52
public

ANY GROUP THAT CONSIDERS ITSELF

INTERESTED IN THE ABILITY OF A
COMPANY TO
ACHIEVE ITS
OBJECTIVES.

Demographic

53

STUDIES THE POPULATION IN TERMS

OF AGE, SEX, RACE, OCCUPATION,
l
LOCATION, AND OTHER STATISTICS.

54
Economic

AFFECT
FACTORS THAT
THE PURCHASING POWER

AND SPENDING PATTERNS

OF CONSUMERS

Natural

55

NATURAL RESOURCES THAT

THE COMPANY
REQUIRES AS
INPUTS OR THAT ARE

AFFECTED BY MARKETING

ACTIVITIES.

56
Technological
FORCES THAT
CREATE NEW
PRODUCTS AND MARKET

OPPORTUNITIES

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 LEARN MARKETING
GLOSSARY

Political
57

LAWS, AGENCIES, AND GROUPS THAT

INFLUENCE OR LIMIT MARKETING
ACTIONS .

Cultural
58
FORCES THAT AFFECT THE BASIC
VALUES, PERCEPTIONS,
PREFERENCES, AND BEHAVIORS OF

A SOCIETY

consumer buying
behavior
59

REFERS TO THE BEHAVIOR OF FINAL

CONSUMERS (INDIVIDUALS AND
HOUSEHOLDS) WHO PURCHASE
GOODS AND SERVICES FOR
PERSONAL CONSUMPTION 60
Customer
database
AN ORGANIZED COLLECTION OF

INFORMATION
COMPREHENSIVE INFORMATION ABOUT

INDIVIDUAL CUSTOMERS OR
PROSPECTS,
INCLUDING
GEOGRAPHIC, DEMOGRAPHIC,
PSYCHOGRAPHIC, AND BEHAVIORAL
sales concept DATA

61

IDEA

THAT CONSUMERS WILL

NOT

BUY

ENOUGH COMPANY PRODUCTS

UNLESS THE COMPANY

he
UNDERTAKES A
LARGE-SCALE SALES AND
PROMOTION EFFORT.
62

Demography

HUMAN
STUDY OF THE
POPULATION IN TERMS OF

LOCATION,
Development of the
marketing strategy
ITS
SIZE, DENSITY,
AGE, GENDER, RACE,
OCCUPATION, AND OTHERS
STATISTICAL FACTORS.

63 DESIGN OF A
STRIA
INITIAL MARKETING
STRATEGY

FOR A NEW PRODUCT BASED

ON THE

CONCEPT
OF IT.
.
64

Development of new
products

FDEVELOPMENT OF ORIGINAL PRODUCTS

NALS, IMPROVED PRODUCTS,

MODIFI ED
PRODUCTS, AND NEW BRANDS

THROUGH IN-HOUSE PRODUCT

DEVELOPMENT EFFORTS

COMPANY.

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 LEARN MARKETING
GLOSSARY

Marketing Channel Design

65
CHANNELS OF
DESIGN OF EFFICIENT
MARKETING BY ANALYZING CUSTOMER
NEEDS,
SETTING OF CHANNEL GOALS, AND
IDENTIFYING AND EVALUATING

ITS MAIN ALTERNATIVES.

66

Cognitive dissonance

DISCOMFORT EXPERIENCED BY THE

COM
BUYER BECAUSE OF A POST-
PURCHASE
DISPUTE.

exclusive distribution
67 GIVE A LIMITED NUMBER OF
INTERMEDIATE
HAVE THE EXCLUSIVE

RIGHT TO
DISTRIBUTE IN THEIR TERRITORIES
THE PRODUCTS
COMPANY COUGH. 68

intensive distribution

SUPPLYING THE PRODUCT IN SO MANY

OUTLETS AS POSSIBLE.

Selective distribution

69

USE OF MORE THAN

ONE BUT NOT
ALL

INTERMEDIARIES WILLING TO HAVE

THE INVENTORY OF THE PRODUCTS
OF
THE COMPANY.

l 70

Diversification

BUSINESS GROWTH THROUGH

OPENNESS

OR ACQUISITION OF BUSINESSES

TO COMMERCIALIZE PRODUCTS
AND MERCHANDISE
TWO DIFFERENT
FROM THOSE IN
Growth-Share Matrix WHICH THE COMPANY CURRENTLY

71

PLANNING
METHOD
WORKS

PORTFOLIO THAT ASSESSES THE

UNITS OF A
STRATEGIC BUSINESS

COMPANY
COMPANY IN TERMS
OF ITS MARKET
GROWTH RATE AND ITS
72

Micromarketing
RELATIVE MARKET SHARE.
. ADAPTATION OF SEA
PRODUCTS AND
PROGRAMS
.

KETING ACCORDING TO THE NEEDS AND

INDIVIDUALS
DESIRES OF SPECIAL
LOCAL CUSTOMER FIGURES AND
SEGMENTS; INCLUDES
LOCAL MARKETING
AND INDIVIDUAL MARKETING.

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 LEARN MARKETING
GLOSSARY

Marketing with a sense

of mission
73 MARKETING
PRINCIPLE
SUSTAINABLE, ACCORDING TO WHICH THE
COMPANY SHOULD DEFINE ITS MISSION
IN BROAD SOCIAL TERMS
RATHER THAN IN
LIMITED TERMS OF
PRODUCT.

74

Concentrated (niche)

marketing

HEDGING STRATEGY
MARKET WHERE THE COMPANY
SEEKS A LARGE SHARE IN ONE
OR SEVERAL SEGMENTS OR NICHES.
.
direct mail marketing

75

MARKETING THAT TAKES PLACE IN

SENDING AN OFFER, ANNOUNCEMENT,
REMINDER OR OTHER DIRECT ELEMENT

A PARTICULAR
MIND A PERSON IN
DIRECTION. 76

Marketing online
EFFORTS TO MARKET
PRODUCTS AND BE
VICES AND BUILD RELATIONSHIPS WITH
CUSTOMERS THROUGH
THE INTERNET.

mobile marketing

77

CONSUMERS
MARKETING TARGETING
IN MO
MOVEMENT; USES
MOBILE PHONES,
SMART PHONES AS A VEHICLE

AND OTHER
PEOPLE, TABLETS
MOBILE COMMUNICATION DEVICES.

78

he interactive marketing

TRAINING OF EMPLOYEES TO BE
VICE IN THE ART OF INTERACTING

WITH CUSTOMERS TO SATISFY

THEIR
NEEDS.

Marketing innovador

79

PRINCIPLE OF SUSTAINABLE

MARKETING,
ACCORDING TO WHICH
THE COMPANY

SHOULD SEEK REAL IMPROVEMENTS IN

ITS PRODUCTS

AND ITS MARKETING.

80
consumer-oriented

.
marketing
MARKETING
PRINCIPLE
.

SUSTAINABLE, ACCORDING TO WHICH THE

COMPANY MUST VISUALIZE AND ORGANIZE

YOUR MARKETING ACTIVITIES FROM THE

PERSPECTIVE OF THE CONSUMER

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