Cash discount A price reduction to buyers who pay their bills promptly.
Cash refund offer (rebate) Offer to refund part of the purchase price of a product to consumers who send a “proof of purchase” to the manufacturer.
Catalog marketing Direct marketing through print, video, or electronic catalogs that are mailed to a select customers, made available in stores, or presented online.
Category killer Giant specialty store that carries a very deep assortment of a particular line and is staffed by knowledgeable employees.
Causal research Marketing research to test hypotheses about cause and effect relationships.
Chain stores Two or more outlets that are owned and controlled in common, have central buying and merchandising, and sell similar lines of merchandise.
Channel conflict Disagreement among marketing channel members on goals and roles—who should do what and for what rewards.
Channel level A layer of intermediaries that performs some work in bringing the product and its ownership closer to the final buyer.
Closing The step in the selling process in which the salesperson asks the customer for an order.
Co-branding The practice of using the established brand names of two different companies on the same product.
Cognitive dissonance Buyer discomfort caused by post-purchase conflict.
Commercialization Introducing a new product into the market.
Communication adaptation A global communication strategy of fully adapting advertising messages to local markets.
Competition-based pricing Setting prices based on the prices that competitors charge for similar products.
Competitive advantage An advantage over competitors gained by offering consumers greater value, either through lower prices or by providing more benefits that justify higher prices.
Competitive marketing strategies Strategies that strongly position the company against competitors and that give the company the strongest possible strategic advantage.
Competitive-parity method Setting the promotion budget to match competitors’ outlays.
Competitor analysis The process of identifying key competitors; assessing their objectives, strategies, strengths and weaknesses, and reaction patterns; and selecting which competitors to attack or avoid.
Complex buying behavior Consumer buying behavior in situations characterized by high consumer involvement in a pur¬chase and significant perceived differences among brands.
Concentrated marketing A market-coverage strategy in which a firm goes after a large share of one or a few sub markets.
Concept testing Testing new-product concepts with a group of target consumers to find out if the concepts have strong con¬sumer appeal.
Consumer buying behavior The buying behavior of final consumers—individuals and households who buy goods and services for personal consumption.
Consumer market All the individuals and households who buy or acquire goods and services for personal consumption.
Consumer-oriented marketing A principle of enlightened marketing that holds that the company should view and organize its marketing activities from the consumers’ point of view.
Consumer product Product bought by final consumer for personal consumption.Consumerism An organized movement of citizens and government agencies to improve the rights and power of buyers in relation to sellers.
Contests, sweepstakes, games Promotional events that give consumers the chance to win something—such as cash, trips, or goods—by luck or through extra effort.
Contract manufacturing A joint venture in which a company contracts with manufacturers in a foreign market to produce the product.
Convenience product Consumer product that the customer usually buys frequently, immediately, and with a minimum of com¬parison and buying effort.
Convenience store A small store, located near a residential area, that is open long hours seven days a week and carries a limited line of high-turnover convenience goods.
Conventional distribution channel A channel consisting of one or more independent producers, wholesalers, and retailers, each a separate business seeking to maximize its own profits even at the expense of profits for the system as a whole.
Cost of goods sold The net cost to the company of goods sold.
Cost-plus pricing Adding a standard markup to the cost of the product.
Counter-trade International trade involving the direct or indirect exchange of goods for other goods instead of cash. Forms include barter, compensation (buy-back), and counter purchase.
Coupon Certificate that gives buyers a saving when they purchase a specified product.
Cultural environment Institutions and other forces that affect society’s basic values, perceptions, preferences, and behaviors.
Culture The set of basic values, perceptions, wants, and behaviors learned by a member of society from family and other important institutions.
Customer delivered value The consumer’s assessment of the product’s overall capacity to satisfy his or her needs. The difference between total customer value and total customer cost of a marketing offer— “profit” to the customer.
Customer lifetime value The amount by which revenues from a given customer over time will exceed the company’s costs of attracting, selling, and servicing that customer.
Customer satisfaction The extent to which a product’s perceived performance matches a buyer’s expectations. If the product’s performance falls short of expectations, the buyer is dissatisfied. If performance matches or exceeds expectations, the buyer is satisfied or delighted.
Customer value The difference between the value the customer gains from owning and using a product and the costs of obtaining the product.
