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Saturday, November 5, 2011

Marketing Glossaries


Ambiance
An overall feeling or mood projected by a store through its aesthetic appeal to human senses. A brightly colored children's room is more appealing to juveniles than an area sectioned off within the adult room which blends in.
Correlation Analysis
A statistical technique used to measure the closeness of the linear relationship between two or more intervally scaled variables. For example public library use has a close linear relationship with people of higher education and income.
Diffusion of Innovation
The spread of innovation with a market group in stages--innovators (2- 5%), early adopters (10-15%), early majority (next 35%), late majority(next 35%), and laggards (final 5-10%.) Fair amount of disagreement about the percentages.

Evoked Set
A set of alternatives that are activated directly from memory--certain brands considered during the buying process.
Flagship Store ;
In a local department store organization/library system, the main or central store/library when it is large or dominant in relation to other company stores