ABC method/e bi si meθəd/
nouna sales method, where the cus-tomer’s attention is attracted, the sales-person then shows the benefits of the
product to the customer, and finally
closes the deal. Full form attention,
benefit, close
ABCs abbr Audit Bureau of
Circulations
above-the-fold /əb
v ðə fəυld/
nounthe part of a webpage which is
seen first without having to scroll, and
so is preferred for advertising
above-the-line advertising/əb
v
ðə lan dvətazŋ/ nounadvertising
for which a payment is made and for
which a commission is paid to the ad-vertising agency, e.g. an advertisement
in a magazine or a stand at a trade fair.
Comparebelow-the-line advertising
(NOTE: as opposed to direct marketing)
absenteeism /bs(ə)ntiz(ə)m/
nounstaying away from work for no
good reasonthe rate of absenteeism
or the absenteeism rate always in-creases in fine weatherLow produc-tivity is largely due to the high level of absenteeism.Absenteeism is high in
the week before Christmas.
‘ but the reforms still hadn’t fundamentally
changed conditions on the shop floor:
absenteeism was as high as 20% on some days’
[Business Week]
absolute/bsəlut/ adjectivecom-plete or total
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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
This edition © 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
PREFACE TO FIRST EDITION
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.
PREFACE TO SECOND EDITION
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.
PREFACE TO THIRD EDITION
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 ( ) and a secondary stress mark
( ). Note that these are only guides as the stress of the word changes according to
its position in the sentence.
Vowels Consonants
back b buck
ɑ harm d dead
ɒ stop ð other
a type d jump
aυ how f fare
aə hire gold
aυə hour h head
ɔ course j yellow
ɔ annoy k cab
e head l leave
eə fair m mix
e make n nil
eυ o s save
word ʃ shop
i keep t take
i happy tʃ change
ə about θ theft
fit v value
ə near w work
u annual x loch
u pool measure
υ book z zone
υə tour
& shut
AABC method /e bi si meθəd/
noun a sales method, where the cus-
tomer’s attention is attracted, the sales-
person then shows the benefits of the
product to the customer, and finally
closes the deal. Full form attention,
benefit, close
ABCs abbr Audit Bureau of
Circulations
above-the-fold /əb
v ðə fəυld/
noun the part of a webpage which is
seen first without having to scroll, and
so is preferred for advertising
above-the-line advertising /əb
v
ðə lan dvətazŋ/ noun advertising
for which a payment is made and for
which a commission is paid to the ad-
vertising agency, e.g. an advertisement
in a magazine or a stand at a trade fair.
Compare below-the-line advertising
(NOTE: as opposed to direct marketing)
absenteeism /bs(ə)ntiz(ə)m/
noun staying away from work for no
good reason the rate of absenteeism
or the absenteeism rate always in-
creases in fine weather Low produc-
tivity is largely due to the high level of
absenteeism. Absenteeism is high in
the week before Christmas.
‘…but the reforms still hadn’t fundamentally
changed conditions on the shop floor:
absenteeism was as high as 20% on some days’
[Business Week]
absolute /bsəlut/ adjective com-
plete or total
absolute advantage /bsəlut əd-
vɑntd/ noun an advantage enjoyed
by an area of the world which can pro-
duce a product more cheaply than other
areas For climatic reasons, tropical
countries have an absolute advantage in
that type of production.
absolute cost /bsəlut kɒst/
noun the actual cost of placing an adver-
tisement in a magazine or other adver-
tising medium
absolute monopoly /bsəlut mə-
nɒpəli/ noun a situation where only
one producer or supplier produces or
supplies something The company has
an absolute monopoly of imports of
French wine. The supplier’s absolute
monopoly of the product meant that cus-
tomers had to accept his terms.
absorb /əbzɔb/ verb to take in a
small item so as to form part of a larger
one overheads have absorbed all
our profits all our profits have gone in
paying overhead expenses to absorb
a loss by a subsidiary to write a subsid-
iary company’s loss into the group ac-
counts a business which has been
absorbed by a competitor a small busi-
ness which has been made part of a
larger one
absorption /əbzɔpʃən/ noun mak-
ing a smaller business part of a larger
one, so that the smaller company in ef-
fect no longer exists
absorption costing /əbzɔpʃən
kɒstŋ/ noun costing a product to in-
clude both the direct costs of production
and the indirect overhead costs as well
accelerated depreciation /ək-
seləretd dpriʃeʃ(ə)n/ noun a
system of depreciation which reduces
the value of assets at a high rate in the
early years to encourage companies, as a
result of tax advantages, to invest in new
equipment
accelerator /əkseləretə/ noun the
theory that a change in demand for con-
sumer goods will result in a greater
ABC method 1 accelerator
change in demand for the capital goods
used in their production
accept /əksept/ verb 1. to take some-
thing which is being offered to accept
delivery of a shipment to take goods
into the warehouse officially when they
are delivered 2. to take something which
is being offered or to say ‘yes’ or to
agree to something to accept an offer
of employment she accepted the offer
of a job in Australia he accepted
£2000 in lieu of notice 3. to agree for-
mally to receive something or to be re-
sponsible for something
acceptable /əkseptəb(ə)l/ adjective
which can be accepted Both parties
found the offer acceptable. The terms
of the contract of employment are not
acceptable to the candidate.
acceptance /əkseptəns/ noun ac-
ceptance of an offer agreeing to an of-
fer to give an offer a conditional
acceptance to accept an offer provided
that specific things happen or that spe-
cific terms apply we have his letter of
acceptance we have received a letter
from him accepting the offer
acceptance against documents
/əkseptəns ə"enst dɒkjυmənts/
noun a transaction where the seller takes
charge of the shipping documents for a
consignment of goods when a buyer ac-
cepts a bill of exchange Acceptance
against documents protects the seller
when sending goods which are not yet
paid for.
acceptance sampling /əkseptəns
sɑmplŋ/ noun testing a small sample
of a batch to see if the whole batch is
good enough to be accepted
accepted bill /əkseptd bl/ noun a
bill of exchange which has been signed,
and therefore accepted by the buyer
acceptor /əkseptə/ noun a person
who accepts a bill of exchange by sign-
ing it, thus making a commitment to pay
it by a specified date
access /kses/ noun to have ac-
cess to something to be able to obtain
or reach something She has access to
large amounts of venture capital. verb
to call up data which is stored in a com-
puter She accessed the address file on
the computer. access to the market
1. the legal right to sell in a particular
market 2. the ability to reach a market
by promotion and distribution
Access /kses/ a credit card system
formerly operated by some British
banks, part of the MasterCard network
accessibility /əksesblti/ noun
the ability of a market to be reached by
promotion and distribution There is
much demand in the market, but, be-
cause of the great distances involved,
accessibility is a problem. We must
analyse the geographical aspects in as-
sessing the market’s accessibility.
access time /kses tam/ noun the
time taken by a computer to find data
stored in it
accommodation bill /əkɒmə-
deʃ(ə)n bl/ noun a bill of exchange
where the person signing (the ‘drawee’)
is helping another company (the
‘drawer’) to raise a loan
account /əkaυnt/ noun 1. a record of
financial transactions over a period of
time, such as money paid, received, bor-
rowed or owed Please send me your
account or a detailed or an itemized ac-
count. 2. (in a shop) an arrangement
which a customer has to buy goods and
pay for them at a later date, usually the
end of the month to have an account
or a charge account or a credit account
with Harrods Put it on my account or
charge it to my account. to open an
account (of a customer.) to ask a shop
to supply goods which you will pay for
at a later date to open an account or
to close an account (of a shop) to start
or to stop supplying a customer on
credit to settle an account to pay all
the money owed on an account to stop
an account to stop supplying a cus-
tomer until payment has been made for
goods supplied 3. on account as part
of a total bill to pay money on ac-
count to pay to settle part of a bill ad-
vance on account money paid as a part
payment 4. a customer who does a large
amount of business with a firm and has
an account with it Smith Brothers is
one of our largest accounts. Our sales
people call on their best accounts twice
a month. 5. to keep the accounts to
accept 2 account
write each sum of money in the account
book The bookkeeper’s job is to enter
all the money received in the accounts.
6. STOCK EXCHANGE a period during
which shares are traded for credit, and at
the end of which the shares bought must
be paid for (NOTE: On the London
Stock Exchange, there are twenty-four
accounts during the year, each running
usually for ten working days.) 7. a no-
tice to take account of inflation or to
take inflation into account to assume
that there will be a specific percentage
of inflation when making calculations 8.
an arrangement which a company has
with an advertising agency, where the
agency deals with all promotion for the
company The company has moved its
$3m account to another agency. The
small agency lost the account when the
company decided it needed a different
marketing approach. Three agencies
were asked to make presentations, as
the company had decided to switch its
account. verb to account for to ex-
plain and record a money transaction
to account for a loss or a discrepancy
The reps have to account for all their
expenses to the sales manager.
accountancy /əkaυntənsi/ noun the
work of an accountant They are study-
ing accountancy or They are accoun-
tancy students. (NOTE: American
English is accounting in this meaning)
accountant /əkaυntənt/ noun 1. a
person who keeps a company’s accounts
The chief accountant of a manufactur-
ing group. 2. a person who advises a
company on its finances I send all my
income tax queries to my accountant. 3.
a person who examines accounts
account book /əkaυnt bυk/ noun a
book with printed columns which is
used to record sales and purchases
account director /əkaυnt da-
rektə/ noun a person who works in an
advertising agency and who oversees
various account managers who are each
responsible for specific clients
account executive /əkaυnt "-
zekjυtv/ noun an employee who
looks after customers or who is the link
between customers and the company
account handler /əkaυnt
hndlə/, account manager /əkaυnt
mndə/ noun a person who works in
an advertising agency, and who is re-
sponsible for a particular client
‘…we have moved the account because we
thought it would be better suited in a smaller
agency’ [Marketing Week]
accounting /əkaυntŋ/ noun the
work of recording money paid, re-
ceived, borrowed or owed accounting
methods or accounting procedures
accounting system accounting
machine
‘…applicants will be professionally qualified
and have a degree in Commerce or Accounting’
[Australian Financial Review]
accounts department /əkaυnts
dpɑtmənt/ noun a department in a
company which deals with money paid,
received, borrowed or owed
accounts manager /əkaυnts
mndə/ noun the manager of an ac-
counts department
accounts payable /əkaυnts
peəb(ə)l/ noun money owed by a
company
accredited agent /əkredtd
edənt/ noun an agent who is ap-
pointed by a company to act on its
behalf
accurate /kjυrət/ adjective correct
The sales department made an accu-
rate forecast of sales. The designers
produced an accurate copy of the plan.
accurate description /kjυrət d-
skrpʃən/ noun an honest and true de-
scription of a product or service in an
advertisement or catalogue As the ad-
vertisement was clearly not an accurate
description of the product, the company
had to pay a fine. It is not an accurate
description of the product to state that it
gives out more light than the sun.
accurately /kjυrətli/ adverb cor-
rectly The second quarter’s drop in
sales was accurately forecast by the
computer.
achiever /ətʃivə/ noun a person who
is successful or who tends to achieve his
or her objectives It was her reputation
as a high achiever that made us think of
headhunting her. VALS
accountancy 3 achiever
acknowledge /əknɒld/ verb to tell
a sender that a letter, package or ship-
ment has arrived He has still not ac-
knowledged my letter of the 24th. We
acknowledge receipt of your letter of
June 14th.
acknowledgement /ək-
nɒldmənt/ noun the act of
acknowledging She sent an acknowl-
edgement of receipt. The company
sent a letter of acknowledgement after I
sent in my job application.
ACORN /ekɔn/ noun a classifica-
tion of residential areas into categories,
based on the type of people who live in
them, the type of houses, etc., much
used in consumer research ACORN
will help us plan where to concentrate
our sales visits. Full form a classifica-
tion of residential neighbourhoods
acquire /əkwaə/ verb to buy to ac-
quire a company We have acquired a
new office building in the centre of
town.
acquirer /əkwaərə/ noun a person
or company which buys something
acquisition /kwzʃ(ə)n/ noun 1.
something bought The chocolate fac-
tory is our latest acquisition. 2. the act
of getting or buying something data
acquisition or acquisition of data ob-
taining and classifying data 3. the action
of acquiring new customers, as opposed
to retention, which is keeping the loy-
alty of existing customers
acronym /krənm/ noun a word
which is made up from the initials of
other words The name of the company
was especially designed to provide a
catchy acronym. BASIC is an acro-
nym for Beginner’s All-purpose Sym-
bolic Instruction Code.
across-the-board /əkrɒs ðə bɔd/
adjective (of an advertisement) running
for five consecutive days from Monday
to Friday
action shot /kʃən ʃɒt/ noun a
scene with movement either in a film or
on TV
activity sampling /ktvti
sɑmplŋ/ noun an observation of tasks
and their performances, carried out at
random intervals Activity sampling
was carried out to see how fast the ma-
chinists worked. (NOTE: no plural)
ad /d/ noun same as advertisement
(informal.) We put an ad in the paper.
She answered an ad in the paper.
He found his job through an ad in the
paper.
Ad-A-Card /d ə kɑd/ noun US a
type of perforated card bound into a
magazine which a reader can tear off
and return to the advertiser
adapt /ədpt/ verb to change some-
thing a little to fit in with changing cir-
cumstances This product must be
adapted in line with recent technologi-
cal developments. The device has
been adapted for use on board aircraft.
adaptation /dpteʃ(ə)n/ noun 1.
a small change With a few minor ad-
aptations, the machine will cut square
holes as well as round ones. 2.
something which has been adapted
This machine is an adaptation of our
original model.
adaptive control model /ədptv
kəntrəυl mɒd(ə)l/ noun US a model
for planning advertising expenditure in
line with changes in consumer re-
sponses to advertising
ad banner /d bnə/ noun same as
banner
ad click /d klk/ noun same as
click-through
ad click rate /d klk ret/ noun
same as click-through rate
added value /dd vlju/ noun an
amount added to the value of a product
or service, being the difference between
its cost and the amount received when it
is sold. Wages, taxes, etc. are deducted
from the added value to give the profit.
Value Added Tax
add-on sales /d ɒn selz/ noun
the sale of items which complement
items being bought, e.g. washing pow-
der sold with a dishwasher
address label /ədres leb(ə)l/ noun
a label with an address on it
ad hoc /d hɒk/ adjective ‘for this
particular purpose’ They run ad hoc
surveys to test customer reaction when
products are launched. Shipping by
acknowledge 4 ad hoc
airfreight was an ad hoc arrangement
initially.
ad hoc research /d hɒk rs&tʃ/
noun research carried out for a particu-
lar client or in a particular market
ad impression /d mpreʃ(ə)n/
noun same as ad view
adjacency /ədes(ə)nsi/ noun a
commercial which is run between two
TV programmes
adjust /əd
st/ verb to change some-
thing to fit new conditions to adjust
prices to take account of inflation
prices are adjusted for inflation
‘…inflation-adjusted GNP moved up at a 1.3%
annual rate’ [Fortune]
‘Saudi Arabia will no longer adjust its
production to match short-term supply with
demand’ [Economist]
‘…on a seasonally-adjusted basis, output of
trucks, electric power, steel and paper
decreased’ [Business Week]
adman /dmn/ noun a man who
works in advertising (informal.) The
admen are using balloons as promo-
tional material. (NOTE: plural is admen)
administer /ədmnstə/ verb to or-
ganise, manage or direct the whole of an
organisation or part of one She admin-
isters a large pension fund.
administered channel /əd-
mnstəd tʃn(ə)l/ noun a distribu-
tion channel in which there is coopera-
tion between businesses
administered price /ədmnstəd
pras/ noun US a price fixed by a man-
ufacturer which cannot be varied by a
retailer (NOTE: the British equivalent is
resale price maintenance)
administration /ədmnstreʃ(ə)n/
noun the running of a company in re-
ceivership by an administrator ap-
pointed by the courts
administration costs /ədmn-
streʃ(ə)n kɒsts/ noun the costs of
management, not including production,
marketing or distribution costs
administrative /ədmnstrətv/ ad-
jective referring to administration ad-
ministrative details administrative
expenses
administrator /ədmnstretə/
noun 1. a person who directs the work
of other employees in a business After
several years as a college teacher, she
hopes to become an administrator. 2. a
person appointed by a court to manage
the affairs of someone who dies without
leaving a will
adopt /ədɒpt/ verb to agree to some-
thing or to accept something
adopter /ədɒptə/ noun a customer
who adopts a particular product
adoption /ədɒpʃən/ noun the deci-
sion to buy or use a particular product
More promot