Dictionary of Marketing

305 Pages·2003·3.44 MB·english

by  A&C Black

DICTIONARY OF
MARKETING
third edition

DICTIONARY OF
MARKETING
third edition
A. Ivanovic MBA
P.H. Collin
BLOOMSBURY
A BLOOMSBURY REFERENCE BOOK
Originally published by Peter Collin Publishing
Third edition published 2003
Second edition published 1996
First edition published 1989
Bloomsbury Publishing Plc
38 Soho Square
London W1D 3HB
©Copyright A. Ivanovic & P H Collin 1989, 1996
Thisedition © copyright Bloomsbury Publishing Plc 2003
All rights reserved. No part of this publication may be reproduced
in any form or by any means without the permission of the publishers
British Library Cataloguing-in-Publication Data
A catalogue record for this book is available from the British Library
ISBN 0-7475-6621-6
eISBN-13: 978-1-4081-0213-8
Text computer typeset by Bloomsbury Publishing
Printed in Italy by Legoprint
PREFACETOFIRSTEDITION
This dictionary provides the user with a comprehensive vocabulary of terms used in
marketing. It covers such aspects of the subject as market research, advertising,
promotional aids and selling techniques.
The main words are explained in simple English, and, where appropriate, examples
are given to show how the words are used in context. Quotations are also given from
various magazines and journals, which give an idea of how the terms are used in real
life.
The Supplement at the back of the book gives some further information which may
be of use to the user.
We are particularly grateful to Margaret Jull Costa and Stephen Curtis for valuable
comments which they made on the text.
PREFACETOSECONDEDITION
Business terminology changes rapidly, and this second edition includes a variety of
new terms and expressions which have come into use since the first edition was
published. We have also included new examples and quotations from recent
magazines.
Also included is a pronunciation guide for the main entry words.
PREFACETOTHIRDEDITION
This third edition of the dictionary takes into account the many new terms that have
come into marketing with the growth of e-commerce and the Internet. The
supplement at the back of the book has also been comprehensively updated.
We are grateful to the following for their valuable comments on the text: Ian Linton,
Georgia Hole, Dinah Jackson and Sandra Anderson.
Pronunciation
The following symbols have been used to show the pronunciation of the main words
in the dictionary.
Stress has been indicated by a main stress mark ((cid:1)) and a secondary stress mark
((cid:2)). Note that these are only guides as the stress of the word changes according to
its position in the sentence.
Vowels Consonants
(cid:3) back b buck
ɑ(cid:6) harm d dead
ɒ stop ð other
a type d(cid:15) jump
aυ how f fare
aə hire (cid:19) gold
aυə hour h head
ɔ(cid:6) course j yellow
ɔ annoy k cab
e head l leave
eə fair m mix
e make n nil
eυ (cid:19)o s save
(cid:28)(cid:6) word ʃ shop
i(cid:6) keep t take
i happy tʃ change
ə about θ theft
 fit v value
ə near w work
u annual x loch
u(cid:6) pool (cid:15) measure
υ book z zone
υə tour
& shut
ABCmethod 1 accelerator
A
ABC method /(cid:1)e bi(cid:6) (cid:7)si(cid:6) (cid:1)meθəd/ absolute cost /(cid:1)(cid:21)bsəlu(cid:6)t (cid:7)kɒst/
noun a sales method, where the cus- nountheactualcostofplacinganadver-
tomer’sattention isattracted,thesales- tisement in a magazine or other adver-
person then shows the benefits of the tisingmedium
product to the customer, and finally absolutemonopoly/(cid:1)(cid:21)bsəlu(cid:6)tmə-
closes the deal. Full form attention, (cid:7)nɒpəli/ noun a situation where only
benefit,close
one producer or supplier produces or
ABCs abbr Audit Bureau of suppliessomething(cid:1)Thecompanyhas
Circulations an absolute monopoly of imports of
above-the-fold /ə(cid:1)b(cid:13)v ðə (cid:7)fəυld/ Frenchwine.(cid:1)Thesupplier’sabsolute
nounthe part of a webpage which is monopolyoftheproductmeantthatcus-
seen first without having to scroll, and tomershadtoaccepthisterms.
soispreferredforadvertising absorb /əb(cid:7)zɔ(cid:6)b/ verb to take in a
above-the-lineadvertising/ə(cid:1)b(cid:13)v smallitemsoastoformpartofalarger
ðə lan (cid:7)(cid:21)dvətazŋ/nounadvertising one (cid:2) overheads have absorbed all
for which a payment is made and for ourprofitsallourprofitshavegonein
which a commission is paid to the ad- paying overhead expenses (cid:2) to absorb
vertising agency, e.g. an advertisement alossbyasubsidiarytowriteasubsid-
inamagazineorastandatatradefair. iary company’s loss into the group ac-
Compare below-the-line advertising counts (cid:2) a business which has been
(NOTE:asopposedtodirectmarketing) absorbedbyacompetitorasmallbusi-
absenteeism /(cid:1)(cid:21)bs(ə)n(cid:7)ti(cid:6)z(ə)m/ ness which has been made part of a
largerone
nounstaying away from work for no
good reason (cid:1) the rate of absenteeism absorption /əb(cid:7)zɔ(cid:6)pʃən/ nounmak-
or the absenteeism rate always in- ing a smaller business part of a larger
creases in fine weather (cid:1) Low produc- one,sothatthesmallercompanyinef-
tivityislargelyduetothehighlevelof fectnolongerexists
absenteeism. (cid:1) Absenteeism is high in absorption costing /əb(cid:7)zɔ(cid:6)pʃən
theweekbeforeChristmas. (cid:1)kɒstŋ/ nouncosting a product to in-
‘…but the reforms still hadn’t fundamentally cludeboththedirectcostsofproduction
changed conditions on the shop floor:
andtheindirectoverheadcostsaswell
absenteeismwasashighas20%onsomedays’
[BusinessWeek] accelerated depreciation /ək-
absolute /(cid:7)(cid:21)bsəlu(cid:6)t/ adjectivecom- (cid:1)seləretd dpri(cid:6)ʃ(cid:7)eʃ(ə)n/ noun a
pleteortotal system of depreciation which reduces
absoluteadvantage/(cid:1)(cid:21)bsəlu(cid:6)təd- the value of assets at a high rate in the
(cid:7)vɑ(cid:6)ntd(cid:27)/ nounan advantage enjoyed earlyyearstoencouragecompanies,asa
resultoftaxadvantages,toinvestinnew
byanareaoftheworldwhichcanpro-
equipment
duceaproductmorecheaplythanother
areas (cid:1) For climatic reasons, tropical accelerator /ək(cid:7)seləretə/ nounthe
countrieshaveanabsoluteadvantagein theorythatachangeindemandforcon-
thattypeofproduction. sumer goods will result in a greater
accept 2 account
changeindemandforthecapitalgoods thecomputer.(cid:1)accesstothemarket
usedintheirproduction 1. the legal right to sell in a particular
accept/ək(cid:7)sept/verb1.totakesome- market 2. the ability to reach a market
thingwhichisbeingoffered(cid:2)toaccept by promotion and distribution
delivery of a shipment to take goods Access /(cid:7)(cid:21)kses/ a credit card system
intothewarehouseofficiallywhenthey formerly operated by some British
aredelivered2.totakesomethingwhich banks,partoftheMasterCardnetwork
is being offered or to say ‘yes’ or to accessibility /ək(cid:1)ses(cid:7)blti/ noun
agreetosomething(cid:1)toacceptanoffer theabilityofamarkettobereachedby
ofemployment(cid:1)sheacceptedtheoffer promotion and distribution (cid:1) There is
of a job in Australia (cid:1) he accepted much demand in the market, but, be-
£2000 in lieu of notice 3. to agree for- cause of the great distances involved,
mallytoreceivesomethingortobere- accessibility is a problem. (cid:1) We must
sponsibleforsomething analysethegeographicalaspectsinas-
acceptable /ək(cid:7)septəb(ə)l/adjective sessingthemarket’saccessibility.
which can be accepted (cid:1) Both parties access time/(cid:7)(cid:21)ksestam/nounthe
foundtheofferacceptable.(cid:1)Theterms time taken by a computer to find data
of the contract of employment are not storedinit
acceptabletothecandidate. accommodation bill /ə(cid:1)kɒmə-
acceptance/ək(cid:7)septəns/noun(cid:2)ac- (cid:7)deʃ(ə)n (cid:1)bl/nouna bill of exchange
ceptanceofanofferagreeingtoanof- wherethepersonsigning(the‘drawee’)
fer (cid:2) to give an offer a conditional is helping another company (the
acceptancetoacceptanofferprovided ‘drawer’)toraisealoan
tchifaitcstperemcisfiacptphliyng(cid:2)swheaphpaevnehoirstlheatttesrpoef- account/ə(cid:7)kaυnt/noun1.arecordof
financial transactions over a period of
acceptance we have received a letter
time,suchasmoneypaid,received,bor-
fromhimacceptingtheoffer
rowed or owed (cid:1) Please send me your
acceptance against documents accountoradetailedoranitemizedac-
/ək(cid:1)septəns ə"enst (cid:7)dɒkjυmənts/ count. 2. (inashop) an arrangement
nounatransactionwherethesellertakes whichacustomerhastobuygoodsand
chargeoftheshippingdocumentsfora payforthematalaterdate,usuallythe
consignmentofgoodswhenabuyerac- endofthemonth(cid:1)tohaveanaccount
cepts a bill of exchange (cid:1) Acceptance orachargeaccountoracreditaccount
against documents protects the seller withHarrods(cid:1)Putitonmyaccountor
when sending goods which are not yet charge it to my account. (cid:2) to open an
paidfor. account (ofacustomer) to ask a shop
.
acceptance sampling /ək(cid:7)septəns tosupplygoodswhichyouwillpayfor
(cid:1)sɑ(cid:6)mplŋ/nountestingasmallsample atalaterdate(cid:2)toopenanaccountor
of a batch to see if the whole batch is tocloseanaccount(ofashop)tostart
goodenoughtobeaccepted or to stop supplying a customer on
acceptedbill/ək(cid:1)septd(cid:7)bl/nouna tchreedmito(cid:2)netyooswetetdleoannanacaccocuounnttt(cid:2)otpoaystoapll
billofexchangewhichhasbeensigned,
an account to stop supplying a cus-
andthereforeacceptedbythebuyer
tomeruntilpaymenthasbeenmadefor
acceptor /ək(cid:7)septə/ noun a person goodssupplied3.(cid:2)onaccountaspart
whoacceptsabillofexchangebysign- of a total bill (cid:2) to pay money on ac-
ingit,thusmakingacommitmenttopay counttopaytosettlepartofabill(cid:2)ad-
itbyaspecifieddate vanceonaccountmoneypaidasapart
access /(cid:7)(cid:21)kses/ noun(cid:2) to have ac- payment4.acustomerwhodoesalarge
cess to something to be able to obtain amountofbusinesswithafirmandhas
orreachsomething(cid:1)Shehasaccessto an account with it (cid:1) Smith Brothers is
largeamountsofventurecapital.(cid:3)verb oneofourlargestaccounts.(cid:1)Oursales
tocallupdatawhichisstoredinacom- peoplecallontheirbestaccountstwice
puter(cid:1)Sheaccessedtheaddressfileon a month. 5. (cid:2) to keep the accounts to
accountancy 3 achiever
writeeachsumofmoneyintheaccount account handler /ə(cid:7)kaυnt
book(cid:1)Thebookkeeper’sjobistoenter (cid:1)h(cid:21)ndlə/, account manager /ə(cid:7)kaυnt
allthemoneyreceivedintheaccounts. (cid:1)m(cid:21)nd(cid:27)ə/nounapersonwhoworksin
6. STOCK EXCHANGE a period during an advertising agency, and who is re-
whichsharesaretradedforcredit,andat sponsibleforaparticularclient
theendofwhichthesharesboughtmust ‘…we have moved the account because we
be paid for (NOTE: On the London thoughtitwouldbebettersuitedinasmaller
StockExchange,therearetwenty-four agency’[MarketingWeek]
accountsduringtheyear,eachrunning accounting /ə(cid:7)kaυntŋ/ noun the
usually for ten working days.) 7.ano- work of recording money paid, re-
tice(cid:2)totakeaccountofinflationorto ceived,borrowedorowed(cid:1)accounting
take inflation into account to assume methods or accounting procedures (cid:1)
that there will be a specific percentage accounting system (cid:1) accounting
ofinflationwhenmakingcalculations8. machine
an arrangement which a company has ‘…applicants will be professionally qualified
with an advertising agency, where the andhaveadegreeinCommerceorAccounting’
agencydealswithallpromotionforthe [AustralianFinancialReview]
company(cid:1)Thecompanyhasmovedits accounts department /ə(cid:7)kaυnts
$3m account to another agency. (cid:1) The d(cid:1)pɑ(cid:6)tmənt/ nouna department in a
smallagencylosttheaccountwhenthe companywhichdealswithmoneypaid,
company decided it needed a different received,borrowedorowed
marketing approach. (cid:1) Three agencies accounts manager /ə(cid:7)kaυnts
were asked to make presentations, as (cid:1)m(cid:21)nd(cid:27)ə/nounthemanagerofanac-
the company had decided to switch its
account.(cid:3)verb(cid:2)toaccountfortoex- countsdepartment
plainandrecordamoneytransaction(cid:1) accounts payable /ə(cid:1)kaυnts
toaccountforalossoradiscrepancy(cid:1) (cid:7)peəb(ə)l/ noun money owed by a
The reps have to account for all their company
expensestothesalesmanager. accredited agent /ə(cid:1)kredtd
accountancy/ə(cid:7)kaυntənsi/nounthe (cid:7)ed(cid:27)ənt/ noun an agent who is ap-
pointed by a company to act on its
workofanaccountant(cid:1)Theyarestudy-
behalf
ing accountancy or They are accoun-
tancy students. (NOTE: American accurate/(cid:7)(cid:21)kjυrət/adjectivecorrect
Englishisaccountinginthismeaning) (cid:1)Thesalesdepartmentmadeanaccu-
rate forecast of sales. (cid:1) The designers
accountant /ə(cid:7)kaυntənt/ noun1. a producedanaccuratecopyoftheplan.
personwhokeepsacompany’saccounts
(cid:1)Thechiefaccountantofamanufactur- accuratedescription/(cid:1)(cid:21)kjυrətd-
ing group. 2. a person who advises a (cid:7)skrpʃən/nounanhonestandtruede-
companyonitsfinances(cid:1)Isendallmy scription of a product or service in an
incometaxqueriestomyaccountant.3. advertisementorcatalogue(cid:1)Asthead-
apersonwhoexaminesaccounts vertisementwasclearlynotanaccurate
descriptionoftheproduct,thecompany
accountbook/ə(cid:7)kaυntbυk/nouna hadtopayafine.(cid:1)Itisnotanaccurate
book with printed columns which is descriptionoftheproducttostatethatit
usedtorecordsalesandpurchases givesoutmorelightthanthesun.
account director /ə(cid:7)kaυnt da- accurately /(cid:7)(cid:21)kjυrətli/ adverb cor-
(cid:1)rektə/nounapersonwhoworksinan rectly (cid:1) The second quarter’s drop in
advertising agency and who oversees sales was accurately forecast by the
variousaccountmanagerswhoareeach computer.
responsibleforspecificclients achiever/ə(cid:7)tʃi(cid:6)və/nounapersonwho
account executive /ə(cid:7)kaυnt "- issuccessfulorwhotendstoachievehis
(cid:1)zekjυtv/ noun an employee who orherobjectives(cid:1)Itwasherreputation
looksaftercustomersorwhoisthelink asahighachieverthatmadeusthinkof
betweencustomersandthecompany headhuntingher.(cid:1)VALS