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Sunday, July 31, 2011

Marketing glossary

  1.  Erratic Demand
A pattern of demand for a product that is varied and unpredictable, e.g., some best sellers, or specific online databases randomly assigned in curriculum by teachers.

  1.  Evoked set
A set of alternatives that are activated directly from memory--certain brands considered during the buying process.

  1.  Exchange
All activities associated with receiving something from someone by giving something voluntarily in return. This is the heart of the marketing process. A library user gives time instead of money to borrow materials, but it is still an exchange.

  1.  Habit
A learned response to a stimulus that has become automatic and routine, requiring little or no cognitive effort. It is often said that the reading and library habit if not learned as a child, will not be learned as an adult.

  1. 10.Halo Effect
A problem that arises in data collection when there is carry over from one judgement to another.