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| There are 99 entries in the glossary. |
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| R & D | research and development
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| rack-jobber | a specialised form of merchant wholesaler supplying non-general lines to supermarkets, pharmacies, hardware stores, etc
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| rainmaker | the individual in a firm (often a consulting firm) that is the primary business development person, the individual who acquires most of the contract business for the firm, the person who "makes it rain" (gets the deal) .
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| rational appeals in advertising | advertising messages, usually product-feature based, in which advertisers attempt to achieve their objectives by appeals to logic and reason rather than to the emotions, see emotional appeals in advertising
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| rational buying motives | reasons for buying that are based on logic or judgement rather than on emotion
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| raw materials | a classification of industrial goods that are basic materials which become part of a physical product in the manufacturing process
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| RDC | regional distribution centre
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| reach | the percentage of the target audience which will be exposed to at least one advertisement during the specified period of the campaign
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| reactive marketing control systems | evaluation and control systems in which management finds that marketing performance is not satisfactory and takes corrective action, after-the-fact and steering control are reactive systems, see proactive marketing control systems, adaptive control system, after-the-fact control system and steering control system
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| reactive marketing strategies | marketing activities forced upon an organisation by competitive action, defensive strategies, see proactive marketing strategies
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| real positioning | the modification of a product offering so that it delivers more satisfactorily the benefits that buyers of this kind of product desire, see market positioning and repositioning
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| rebate | a temporary price reduction to encourage immediate purchase
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| recall | see product recall
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| recall tests | a means of evaluating the effectiveness of a company's recent advertising by asking respondents to bring to mind advertisements they have read, heard or viewed
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| receiver | the target of a message in the communication process
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| reciprocity | a practice, which may be illegal under the trade practices legislation, in which a firm gives purchasing preference to a firm to which it sells, see reverse reciprocity
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| recognition merchandise | award, often personalized, used to acclaim performance or milestones, may be useful objects (paperweights, clocks) or for display only (plaques, trophies)
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| recognition tests | a means of evaluating the effectiveness of a firm's recent advertising, respondents are shown an advertisement, asked if they have seen it before, and, if so, are quizzed on its contents
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| recoverable draw | a draw that can be recovered or retrieved by an employer regardless of employment status of the individual who received the draw, the recoverable amount is equal to any draw paid to the individual that exceeds commissions earned, or the unearned amount is carried forward to the next performance period
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| recruiting | see sales personnel recruitment
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| recycling | the collection and processing of used materials for reuse
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| redemption | the conversion of a sales promotion coupon to a purchase
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| redemption rate | the number of sales promotion coupons converted to purchases expressed as a percentage of the number distributed
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| reduced price pack | a type of consumer sales promotion in which two or more units of the same product are banded together and sold at a lower price
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| reference groups | all of those whose influence plays some part in the buying behaviour of consumers, see aspirational reference group and reference group
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| referral | the strongest form of advertising and one of the best forms of a lead, used to describe a prospect that is given to a salesperson by a current customer or prospect, requests for referrals are often forgotten by even the best salespeople
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| referral premium | a premium offered to customers for helping sell a product or service to friends or associates |
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| referral selling | selling to customers whose names have been suggested by previous satisfied customers
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| reflective probes | neutral statements of the salesperson reaffirming or repeating a customer's comment in order to stimulate the customer to provide more information
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| regional brands | manufacturers' brands sold only in certain regions
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| regional shopping centre | a major retail shopping complex serving a distinct geographic area of a city or state, housing at least one major full-line department store and a number of other retailers and service providers
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| registered design | a form of legal protection against the copying by a competitor of the external appearance of a product
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| regressive commission | a sales commission system in which the rate of commission paid decreases with the quantity of goods sold, see progressive commission
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| regressive incentive | one that features a decreasing incentive rate as performance exceeds pre-established levels
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| regulatory environment | that part of the firm's external marketing environment on which legal and political forces act to change regulations which affect the marketing effort, regulation changes can pose threats or present opportunities
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| reinforcement | the reward or punishment delivered by a particular response to a stimulus
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| reinforcement advertising | advertising intended to reassure purchasers, to tell them that they have done the right thing in buying the particular product and to explain how to get the best results and most satisfaction from its use, the purpose of reinforcement advertising is to maintain market share
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| relationship selling | selling in which the primary objective is the building of long-term relationships with customers from which repeat business will flow
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| relative advantage | the degree to which a new product is superior to an existing one, a major determinant of the rate of adoption of a new product, see adoption rate determinants
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| relative market share | the size of a company's share of the market compared to that of competitors
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| reliability | the accuracy with which data in a marketing research study has been collected, a reliable marketing research study should produce similar results if repeated
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| remarketing | marketing activity intended to encourage renewed use of a product in which market interest has declined
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| reminder advertising | advertising aimed at reminding a target market that a product is available as opposed to informing or persuading it, typically associated with products in the mature stage of their life cycle, also referred to as retentive advertising, see advertising objectives
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| reorder frequency | see economic order quantity
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| reorder level | see economic order quantity
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| repositioning | arranging for a product or brand to occupy some other clear and distinctive position in the market and in the minds of target consumers than that which it presently occupies, repositioning may be necessary or desirable if sales expectations are not being met, or to allow for the introduction to the market of a new product or brand, or similar, see market positioning
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| representative | see sales representative
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| representativeness | the degree to which a sample of consumers in a marketing research study represents the characteristics of the population as a whole
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| request for information | RFI - a formal process of responding to a purchasers details needs to determine how well the vendor can match the requirements, see request for proposal
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| request for proposal | RFP - a detailed response to a buyer (usually a company) providing detailed information on product, service, timing, price etc in a tender process, more detailed that a request for information
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| request for quote | a process the government undertakes to obtain quotes for the provision of goods and services |
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| request for tender | a process the government undertakes to obtain tenders for the provision of goods and services |
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| resale price maintenance | a practice, now illegal in many jurisdiction, in which the manufacturer fixes the price at which a buyer may resell the product
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| research | gathering information about a market, company, customer or prospect that will help build a relationship, modify a sales approach, or progress a deal |
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| research call | a phone call made to gather information about a market, company, customer or prospect that will help build a relationship, modify a sales approach, or progress a deal |
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| research design | the controlling plan for a marketing research study in which the methods and procedures for collecting and analysing the information to be collected is specified
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| research objectives | see marketing research objectives
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| researcher-controlled sampling | a form of nonprobability sampling in which the researcher selects the respondents in a marketing research study, it may result in researcher bias
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| reseller | a middleman, one who buys merchandise to resell it at a profit
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| reseller market | the market consisting of wholesalers and retailers who buy products for resale purposes
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| residual | recurring revenue that is generated from the first sale over a period of time, also called a trailer |
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| response bias | the inclination of respondents in a marketing research survey to give the answer that they believe the interviewer wants to hear
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| response elasticity | a measure of the degree to which individuals or groups respond to a marketing program
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| response selling | a elementary form of selling, common in retailing, in which the salesperson simply responds to the customer's demands, little creativity or persuasion is used
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| response time | the time taken by a firm to answer a customer inquiry about the status of an order
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| responsiveness | the degree to which people control their emotions when relating to others, used in selling as an indicator of social style, see social styles, amiable, analytical, driver, and expressive the degree to which you tend to control or emote e.g. if you’re angry, do you keep it to yourself or let everyone know how you feel? |
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| restraint of trade | any action which damages in some way another's opportunity to carry on a business
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| retail advertising | advertising by retailers direct to consumers
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| retail buyer | an individual employed by a retailer primarily to buy merchandise for resale through the store
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| retail image | the perception that consumers have of a particular store and of the experience of shopping there
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| retail mix | the mix of variables, including location, merchandise, communications, price, services, physical attributes and personnel, which form the overall strategic marketing components of retailing
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| retailer cooperative | a wholesaling operation established by a group of retailers to give themselves a buying advantage
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| retailers | members of the distribution channel who sell directly to the consumer
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| retailing | the activity of selling to buyers who are buying for their own ultimate consumption
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| retention |
- the ability to retain customers, can be measured in different ways, average retention time period of all customers, percentage of lost customers over a certain period, see customer retention
- also, the insurance industry uses this term to determine recruiting success, where they measure successful retention of new recruits as a percentage of those hired that remain after years one through four and beyond, comparative numbers are usually benchmarked at the four year period
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| return on assets managed | a measure of a firm's profitability, after-tax profit expressed as a percentage of assets used to make it
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| return on equity | a measure of a firm's profitability, profit achieved in a given period is expressed as a percentage of the total amount invested in the firm by its owners
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| return on investment | a measure of a firm's profitability in which profits are expressed as a percentage of investment - used in the financial world by management to define the monetary value created or expected to be gained by an investment of capital, typically used as a hard value measurement during the decision making process of the sales process or to measure the success of a purchase after implementation and use
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| reusable container | a type of consumer sales promotion in which potential customers are encouraged to buy a particular product because it is packaged in a container that can be used for some other useful purpose when empty
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| reverse marketing channel | a marketing channel in which goods (to be recycled or reprocessed) flow backward from consumer to intermediaries to producer, also called a backward marketing channel
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| reverse reciprocity | a practice in which a firm gives supply preference to another from which it buys
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| RFI | request for information - a formal process of responding to a purchasers details needs to determine how well the vendor can match the requirements, see request for proposal
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| RFP | request for proposal - a detailed response to a buyer (usually a company) providing detailed information on product, service, timing, price etc in a tender process, more detailed that a request for information
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| RFQ | see request for quote |
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| RFT | see request for tender |
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| risk | the chance a purchaser takes that the product will not function as expected or satisfy the felt want, see emotional risk, financial risk, performance risk, physical risk, and social risk
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| risk avoidance | measures including acquiring information, seeking reassurance from family and friends, obtaining advice from experts, etc taken by purchasers to reduce the level of anxiety they experience when buying
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| ROA | return on assets, an indicator of how profitable a company is relative to its total assets, gives an idea as to how efficient management is at using its assets to generate earnings, calculated by dividing a company's annual earnings by its total assets, and displayed as a percentage, sometimes this is referred to as "return on investment"
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| ROE | see return on equity
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| ROI | see return on investment
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| ROIC | return on investment capital - a calculation used to assess how well a company's management is able to allocate capital into its operations, comparing a company's ROIC with its cost of capital reveals whether invested capital was used effectively
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| role playing | an exercise commonly used in sales training in which one person acts the part of a salesperson and another a buyer to practice selling skills
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| rollout | the launch of a new product on a region by region basis as opposed to a national introduction, the rollout is intended to minimise the risk and to reduce the investment in production and marketing, see national introduction and new product development
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| route salesforce | a sales team consisting of salespeople who call on existing customers to take orders for the company's products, the route sales force does not sell in the traditional sense, but merely inspects a retailer's shelves and restocks them as required
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| routine rebuy | see straight rebuy
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| routine response behavior | a buying situation in which the buyer has had considerable past experience, also called automatic response behavior or habitual response behavior, see extensive problem solving and limited problem solving
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| routing | the planning of the best route to be followed by a sales representative in making a series of sales calls, good routing raises both the number of calls the representative is able to make and the ratio of selling time to non-selling time
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| RPM | see resale price maintenance
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| run-out strategy | a strategic decision to allow a product in the decline stage of its life-cycle to continue to be sold, especially if the product has a sizable hard-core market which insists on buying it, often, the marketer may raise the price a little to obtain a slight premium price while paring all promotional costs, see decline stage and product lifecycle
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Glossary V2.0 |
