Sunday, September 11, 2011

Marketing Glossary

1.clustering
A statistical method of forming natural groupings in which a number of important characteristics of a large diverse group are identified in order to define target markets. For a library such a cluster might include higher education levels, and income. (Wood and Koontz)
2.contingency planning
Developing plans to provide alternative plans to the main plan. This is proactive management that deals with events considered unlikely to occur. For example, while a library budget may appear to be adequate and stabile, a contingency plan should be in place in case of cutbacks in funding.
3.convenience product
A consumer good and/or service (such as soap, candy bar, and shoe shine) that is bought frequently, often on impulse, with little time effort spent on the buying process. A convenience product usually is low-priced and is widely available. For a public library this type of material might be newspapers or magazines, or perhaps a quick selection of other materials with little browsing or research. These materials or services are usually located within facility for easy and quick access.
4.destination merchandise
A type of merchandise that motivates or triggers a trip to a specific store. A library's special collection on African history is an example. This is also a 'specialty good.
5.gatekeeper
Usually the individual who controls the flow of information from the mass media to the group or individual.