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| There are 80 entries in the glossary. |
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| iceberg principle | a theory that suggests that aggregated data can hide information that is important for the proper evaluation of a situation
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| idea generation | the first stage in the new product development process - the sourcing of ideas for new products, important sources include the firm's own R & D work, focus groups, competitor's products and suggestions from customers, distributors and salespeople
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| idea marketing | activities associated with the marketing of a cause or idea
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| ideal brand model | a model used to study consumer evaluation of alternative products, the consumer compares actual brands comparing them to a hypothetical ideal brand, among other models used for the purpose are the expectancy-value model, conjunctive model, disjunctive model, lexicographic model, and determinance model
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| image differentiation | as a source of competitive advantage, a company may differentiate itself from its competitors by image, the particular image or "personality" it acquires is created by its logo and other symbols, its advertising, its atmosphere, its events and personalities, other sources of differentiation for competitive advantage include product differentiation, services differentiation, and personnel differentiation
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| image persistence | the idea that images may persist long after an organisation has changed, for example, one government instrumentality's services might be highly regarded in the public mind even though its programs have deteriorated, while another's might still be poorly regarded long after they have been improved
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| image utility | the value given to a product by virtue of the fact that it brings satisfaction to the user in creating prestige and esteem
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| IMO | independent marketing organization, interchangeable term with ISO independent sales organization
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| impact | the force that an advertisement or message will have on a target consumer, television advertising, for example, because it combines sight and sound, will typically have greater impact than print media
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| implementation | the stage in the marketing management process when plans are put into action
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| implied warranty | the notion, upheld by courts in recent years in response to mounting consumer complaints, that a product is covered by warranty even if not expressly stated, and that manufacturers are liable for injury caused by a product even if there has been no negligence in manufacturing, hence, caveat vendor or "let the seller beware"
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| import quota | a government-imposed limit on the number, quantity or value of a product to be imported, usually to protect local industry
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| impulse buying | unplanned consumer buying of attractively presented or conveniently located products
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| impulse goods | goods which are purchased quickly because of a sudden urge to have them, often found at retail checkout counters
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| in-pack premium | a type of sales promotion in which a small gift is included inside the package of a product to encourage consumers to buy it, see premiums, near-pack premium, on-pack premium, and with-pack premium |
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| inbound inquiry | an inquiry about your product or service that's initiated (usually by phone, email or in person) by a prospect or customer, no prospecting needed
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| inbound telemarketers | telemarketing in which a company receives telephone orders and enquiries from customers, often, toll free telephone lines are used
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| incentive | an inducement to buy incentives include special price deals, premiums, contests, etc a reward for a purchase or performance
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| incentive (compensation) | any form of variable payment tied to performance, the payment may be a bonus, commission or other non-monetary awards such as merchandise and travel
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| incentive marketing | the offering of gifts, rewards, premiums, etc to motivate the sales team, to get bigger or more frequent orders from dealers, or to induce customers to buy
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| incentive motivation | the characteristics of the goals one works to obtain will influence his or her behavior
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| incentive program | a planned activity designed to motivate an individual to achieve predetermined organizational objectives |
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| incentives | (i) in learning theory, an object, person or situation that an individual believes will satisfy a motive, (ii) in selling, any bonus, reward, contest, recognition program, etc intended to motivate members of a sales team to greater efforts
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| incremental approach | an approach used in determining the ideal size of a sales force based on the difference between the expected gross profit that will be earned by the addition of an extra salesperson and the cost of hiring, training and maintaining that salesperson
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| incremental-cost pricing | an approach in which the price of all additional units produced after the fixed costs of production have been met are based on variable cost rather than on total cost
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| indifference | when a customer or prospect has no interest in the product or service you are offering or expresses satisfaction with their current circumstances
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| indirect competition | a product that is in a different category altogether but which is seen as an alternative purchase choice, for example, coffee and mineral water are indirect competitors
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| indirect costs | costs that cannot be traced directly to a particular product, commonly called overheads
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| indirect denial method | handling a buyer's objection by initially admitting the validity of the objection in order to maintain rapport but then offering evidence to rebut the objection, sometimes referred to as the "yes, but... method"
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| indirect sales | a small sales group employed by the manufacturer who sell to resellers, a less expensive model than direct sales and maintains vendor control
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| individual brand | a brand name used for a single product within a product line
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| individual brand name | the part of the brand name which identifies a particular product when it follows a family brand name, for example, in the brand name "Holden Commodore", Holden is the family brand name, while Commodore is the individual brand name
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| individual contributor | sales person responsible for individual quota and territory, does not have responsibility for a sales team or team quota
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| industrial buyer behavior | the study of the motives and actions of, and the influences upon, industrial buyers while engaged in the purchasing of goods and services
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| industrial buyers | individuals who purchase goods and services on behalf of the organisations by which they are employed purchasing officers
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| industrial distributors | a marketing intermediary, roughly equivalent to a wholesaler in consumer markets, who purchases industrial products in bulk from manufacturers for resale to small industrial users
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| industrial goods | goods and services purchased by industrial buyers for use in the production of their own goods and services or in the conduct of their business, industrial goods can be broadly classified as equipment, raw materials and services
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| industrial marketing | the marketing of goods and services to business organisations for use in the manufacture of their products or in the operation of their businesses, also called business-to-business marketing
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| industrial product classes | categories of goods and services bought by organisations for use in production or in the operation of their business, classes include installation, accessories, raw materials, component parts, supplies, and services
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| industrial selling | all forms of personal selling to organisational and industrial buyers of products for resale, or for use in manufacture, or for use in the operation of their businesses
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| inelasticity of demand | demand which is not greatly affected by a change in the price of the product
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| inertia buying | consumer buying, of unimportant items, which is done frequently and in which the buyer chooses the same brand over and over again without consideration of other brands
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| inertia selling | a selling practice in which unsolicited goods and services are sent to consumers in expectation that many will prefer to purchase rather than to return them, the practice is considered undesirable and legislation protecting consumers has been enacted in many jurisdictions
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| inflation | an economic situation in which rising prices result in a fall in the purchasing value of money
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| influencer | a person in the prospect organization who has the power to influence and persuade a decision-maker, influencers will be generally be decision-makers for relatively low value sales, there is usually more than one influencer in any prospect organization relevant to a particular sale, and large organizations will have definitely have several influencers, it is usually important to sell to influencers as well as decision-makers in the same organization, selling to large organizations almost certainly demands that the sales person does this, the role and power of influencers in any organization largely depends on the culture and politics of the organization, and particularly the management style of the two main decision-makers
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| infomercial | a word coined to describe a particular type of commercial, for print, TV, radio, etc., in which a company promotes its own product while offering valuable information and advice on an important public issue, for example, Volvo may seek to increase awareness of its product and its safety positioning by producing an infomercial on road safety
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| information economy | an economy based on the exchange of knowledge information and services rather than physical goods and services |
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| information oriented change strategy | an advertising plan or tactic intended to change a brand's image (rather than to maintain it over time) and which relies on the provision of information (rather than imagery and symbolism) to achieve its effect
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| information oriented maintenance strateg | an advertising plan or tactic intended to maintain a brand's image over time (rather than to change its image) and which relies on the provision of information (rather than imagery or symbolism) for its effect
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| information utility | the value given to a product by virtue of the fact that it can provide the user with information that is useful
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| informative advertising | advertising intended to inform rather than to persuade or remind
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| informed judgment techniques | the use of the opinions of knowledgeable people to forecast demand and sales
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| inner-directed consumers | one of three broad groups of consumers (with need-directed consumers and outer-directed consumers) identified in the Stanford Research Institute's survey of American lifestyles, inner-directed consumers, representing about twenty per cent of consumers in the U.S., buy to meet their own inner-needs rather than in response to social norms, see value and life style program (VALS), need-directed consumers and outer-directed consumers
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| innovation | the introduction of a product which is new to both the company and its customers, a new-to-the-world product
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| innovators | the small group of alert people who are the earliest to adopt a new product
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| inseparability | one of the four characteristics (with intangibility, perishability and variability) which distinguish a service, inseparability expresses the notion that a service can not be separated from the service provider
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| inside order-taker | a salesperson who writes up sales orders at a sales counter, or those forwarded to the company by telephone, but is not required to sell persuasively to customers
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| inside sales | usually refers to those who sell by phone or do not physically leave the premises (office)
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| installations | a classification of industrial goods which includes land, buildings and major equipment
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| institutional market | a market consisting of schools, universities, hospitals, charities, clubs and similar organisations which buy goods and services for use in the production of their own goods and services
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| intangibility | one of the four characteristics (with inseparability, perishability and variability) which distinguish a service, intangibility expresses the notion that a service has no physical substance
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| intangible | in a selling context this describes, or is, an aspect of the product or service offering that has a value but is difficult to see or quantify (for instance, peace-of-mind, reliability, consistency)
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| intangible product attributes | the unobservable characteristics which a physical good possesses, such as style, quality, strength, beauty, etc
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| integrated demand generation platform | the system used by marketers who are responsible for producing qualified leads enabaling the sales force to execute in the field; integrates offline and online marketing channels, including email, direct mail, advertising, the Internet, call centers, trade shows, partners and the sales force
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| integrative growth | a strategy for growth in which a firm acquires some other element of the chain of distribution of which it is a member
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| intellectual property | laws that protect the property rights in creative and inventive endeavors including art, literature, music, films, sound recordings, broadcasts, and computer programs |
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| intensive growth | growth opportunities related to a company's current operations; intensive growth opportunities are market penetration, product development and market development
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| inter-type channel conflict | discord among members of different types at the same level of a marketing channel, e.g. department store-convenience store discord
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| internal information search | a stage in the consumer buying process for a low-involvement product, past experiences with items in this product class are considered
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| international marketing | marketing activities intended to facilitate the exchange or transfer of goods between nations
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| introduction | first stage of the actual sales call, perhaps came from a referral
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| introductory stage of product life cycle | the first stage in the life cycle of a successful product, the product wins acceptance relatively slowly, there are limited versions of it, there is no competition, distribution is patchy, promotion is designed to inform the market (rather than to persuade or remind), penetration or skimming pricing strategies are appropriate
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| invalid objection | an excuse offered by a prospective buyer to cover some hidden objection to the product
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| inventory | finished goods stored in a warehouse
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| inventory management | activities involved in maintaining the appropriate level of stock in a warehouse
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| inventory remarketing | an innovative strategy for reducing the risks of introducing a new product, prior to the launch of the new product, a firm may negotiate with an inventory remarketing company for the sale of any unused stock of the new product in the event that it fails to sell as well as expected, thus, the inventory remarketing company will buy the balance of the stock, at the previously agreed price, and resell it, usually in a different market and through different distribution channels
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| inventory turnover | the ratio of dollar or unit sales or gross profit to average inventory, used in inventory control where the average number of times a company sells the value of its inventory in a year is measured
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| ISC | independent sales contractor
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| ISO | independent sales organization - term used to describe field sales forces that are not employees of the companies which provide the products or services they sell, sometimes known as IMO, independent marketing organization
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| isolation effect | the notion that a price will appear more attractive if the product is placed in the store next to a an alternative product which is more expensive
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Glossary V2.0 |
