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Wednesday, September 12, 2012

Marketing Glossary

Buying behaviour  Buying behaviour concerns the process that buyers go through when deciding whether or not to purchase goods or services. Buying behaviour can be influenced by a variety of external factors and motivations, including marketing activity.

Cash Cows  A term used in the Boston Group Matrix. Cash cows are low-growth businesses or products with a relatively high market share. These are mature, successful businesses with relatively little need for investment. They need to be managed for continued profit - so that they continue to generate the strong cash flows that the company needs for its Stars.

Channel conflict  Disagreement among members of a distribution channel about who should be paid what and what roles each should play. Channel conflict often occurs when a business uses a multi-channel approach to distribution

Cognitive dissonance Cognitive dissonance is an customer effect commonly observed after a major purchase whereby the customer feels uncertainty about whether the purchase should have been made. Post-purchase promotion (particularly advertising) has a role to play to reduce the incidence and effect of cognitive dissonance