MT219_Glossary - Z04_ARM2434_10_SE_GLOS.qxd 6:36 PM Page G1...

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DESIGN SERVICES OF Action programs Action programs should be coordinated with the resources and activities of other departments, including pro- duction, finance, and purchasing. Adapted global marketing An international marketing strategy for adjusting the marketing strategy and mix elements to each in- ternational target market, bearing more costs but hoping for a larger market share and return. Administered VMS A vertical marketing system that coordi- nates successive stages of production and distribution, not through common ownership or contractual ties, but through the size and power of one of the parties. Adoption process The mental process through which an in- dividual passes from first hearing about an innovation to final adoption. Advertising Any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor. Advertising agency A marketing services firm that assists com- panies in planning, preparing, implementing, and evaluating all or portions of their advertising programs. Advertising budget The dollars and other resources allocated to a product or company advertising program. Advertising media The vehicles through which advertising messages are delivered to their intended audiences. Advertising objective A specific communication task to be ac- complished with a specific target audience during a specific period of time. The overall advertising goal is to help build customer re- lationships by communicating customer value. Advertising strategy The strategy by which the company ac- complishes its advertising objectives. It consists of two major ele- ments: creating advertising messages and selecting advertising media. Affordable method Setting the promotion budget at the level management thinks the company can afford. Age and life-cycle segmentation Dividing a market into differ- ent age and life-cycle groups. Agent A wholesaler who represents buyers or sellers on a rela- tively permanent basis, performs only a few functions, and does not take title to goods. Allowance Promotional money paid by manufacturers to retail- ers in return for an agreement to feature the manufacturer’s prod- ucts in some way. Approach The step in the selling process in which the sales- person meets the customer for the first time. Attitude A person’s consistently favorable or unfavorable eval- uations, feelings, and tendencies toward an object or idea. Baby boomers The 78 million people born during the baby boom following World War II and lasting until 1964. Behavioral segmentation Dividing a market into segments based on consumer knowledge, attitudes, uses, or responses to a product. Belief A descriptive thought that a person holds about something. Benefit segmentation
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MT219_Glossary - Z04_ARM2434_10_SE_GLOS.qxd 6:36 PM Page G1...

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