some important glossary terms used
by marketers, usually at the management
level, when preparing marketing plans and pitching for
business
Anti-competitive practice: A practice is
considered anti-competitive if it prevents, distorts or restricts competition
in a market for goods and services in Barbados.
Anti-dumping: Anti dumping is a
measure to rectify the situation arising out of the dumping of goods and its
trade distortive
effect. Thus, the purpose of anti
dumping duty is to rectify the trade distortive
effect of dumping
and re-establish fair trade. The use
of anti dumping measure as an
instrument of fair competition is permitted
by the WTO. In fact, anti dumping
is an instrument for ensuring fair trade
and is not a measure of protection
for the domestic industry. It provides
relief to the domestic industry against the
injury caused by dumping. Anti dumping
measures do not provide protection per se
to the domestic industry. It only serves the purpose of
providing remedy to the domestic industry against the injury caused by the
unfair trade practice of dumping.
Advertising: Advertising is a form
of communication that typically attempts to persuade potential customers to
purchase or to consume more of a particular brand of product or service. Many
advertisements are designed to generate increased
consumption of those products and
services through the creation and reinforcement
of "brand image" and "brand
loyalty". For these purposes, advertisements sometimes embed their
persuasive message with factual information.
Barter: A Trade Exchange
or Barter is a type of trade in which goods or
services are directly exchanged for other goods and/or
services, without the use of money.
It can be bilateral or multilateral, and
usually exists parallel to monetary systems
in most developed countries, though to
a very limited extent. Barter usually replaces money as the method of
exchange in times of monetary crisis, when the currency is unstable and
devalued by hyperinflation.
Branding: It is a promise, a
pledge of quality. It is the essence of a product, including why it is great,
and how it is better than all competition products. It is an image. It is
a combination of words and letters, symbols, and colors.
Conglomerate: A conglomerate is the
term used to describe a large company that consists of seemingly unrelated
business sections. This term may also be referred to as a multi-industry
company.
Circulation: The total number of
copies distributed by a newspaper or magazine.
Classifieds: An advertisement in a
newspaper that is placed along with advertisements for similar events under a
classified heading, e.g. 'Entertainment' or 'Cinema'.
Concept: A design in which all
aspects of the product are linked to a central idea, function or theory, etc.
Copy: Written or typed
matter intended to be reproduced in print.
Copyright: The
exclusive right, granted by law for a
certain term of years, to make and
dispose of copies of, and otherwise to control, a literary,
musical, dramatic, or artistic work.
Critical Path: Plots the events that
need to occur to complete a project on a timeline.
CRM: Customer Relationship
Marketing. Building loyalty through your relationship with a customer.
Database: A large
volume of information stored in a
computer and organised in categories to
facilitate retrieval.
Direct Mail: Mailing brochures,
letters, questionnaires etc. directly to the target market.
Direct Marketing: Marketing to the
customer without the use of an intermediary.
Types of Direct marketing:
There are many types of direct marketing, only some important
types are listed below and these are the most form of direct marketing.
i)Direct Mail Marketing: Advertising material sent directly to
home and business addresses. This is the most common form of direct marketing.
ii)Telemarketing: It is the second most common form of direct
marketing, in which marketers contact consumers by phone.
ii)Email Marketing: This type of marketing targets customers
through their email accounts
Display Ad: An advertisement
which is usually designed by the advertiser and displayed in a box.
Direct Response: In advertising.
Advertising designed to trigger a
behavioural response in target audiences, e.g.
placing mail back coupons in the ad, asking people to bring in or mention an
ad, setting up a phone number and asking individuals to call for further
information etc.
Digital Marketing: Digital Marketing is
the practice of promoting products and services using all forms of digital
advertising. It includes Television, Radio, Internet, mobile and any other form
of digital media.
Distress Rates: Cheaper rates for
advertising at short notice, i.e. When newspapers have spaces to fill
shortly before their deadlines.
Distribution: To place promotional
material, e.g. fliers or posters, throughout areas where they will be picked up.
Drip Marketing: Method of sending
promotional items to clients is called Drip marketing.
Dumping: If a company exports
a product at a price (export price) lower than the price it normally
charges on its own home market (normal value), it is said to be 'dumping' the
product. Dumping can harm the domestic industry by reducing
its sales volume and market shares, as
well as its sales prices. This in turn can
result in decline in profitability, job
losses and, in the worst case, in
the domestic industry going out of business.
Often, dumping is mistaken and simplified
to mean cheap or low priced imports.
However, it is a misunderstanding of the term. On the other hand, dumping, in
its legal sense, means export of goods by a country to another country at a
price lower than its normal value. Thus, dumping implies low priced
imports only in the relative sense (relative to the normal value), and not in
absolute sense.
-------------------------------------------------------------------------------------------------------------------------------
No comments:
Post a Comment