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CASH-AND-CARRY WHOLESALER. One who sells only for cash; credit and delivery services are not available.
CASH COWS. Strategic business units with high relative market shares in low-growth markets; managerial action is normally to “milk” these.
CASH DISCOUNT. A percentage of the invoice amount that the seller will allow the buyer to deduct in return for specifically prompt payment.
CATEGORY KILLER. A retail store that carries a very large assortment of merchandise and is able to buy at low prices and dominate competitors.
CENSUS. The collection of data for market research purposes.
CHAIN STORES. A group of stores owned and operated by one company. Each carries the same merchandise, but operates in different geographical areas.
CHAIN STORE SYSTEM. A group of retail stores of essentially the same type, centrally owned and with some degree of centralized control of operation. The term Chain Store may also refer to a single store as a unit of such a group. Comment. According to the dictionary, two may apparently be construed to constitute a “group.”
CHANNEL ALIGNMENT. The coordination of efforts in the form of pricing, transportation, inventory planning and ownership between upstream and downstream sites in the supply chain.
CHANNEL OF DISTRIBUTION. The structure of intra-company organization units and extra-company agents and dealers, wholesale and retail, through which a commodity, product, or service is marketed. Comment. This definition was designed to be broad enough to include (a) both a firm’s internal marketing organization units and the outside business units it uses it its marketing work and (b) both the channel structure of the individual firm and the entire complex available to all firms.
CLOSED SALES TERRITORIES. Sales areas in which agents are guaranteed exclusive selling rights by the manufacturer.
CLUSTERING TECHNIQUES. Research techniques which try to find similar patterns within sets of data.
CODE DATING. Identifying attributes of a product – especially date of manufacture, lot number, and recommended usage date – by a system of symbols (letters, numbers, or words).
COMMISSION MERCHANT. An agent wholesaler who has physical control over the merchandise and earns commissions from the sales of goods handled.
COMMON CARRIERS. Transporters which maintain regular schedules and accept goods from any shipper.
COMPARATIVE ADVERTISING. Advertising which makes direct comparisons of the product being promoted with those of competitors.
COMPETITIVE BIDDING. A situation in which several suppliers submit price quotations based on the buyer’s specifications for a product or service.
CONCENTRATED MARKETING. A marketing program in which one market is singled out for intense, exclusive treatment.
CONCEPT TESTING. The process of evaluating a new product idea prior to its actual physical development.
CONJOINT MEASUREMENT (OR TRADEOFF ANALYSIS). Methods for measuring the relative importance of various combinations of product attributes in terms of overall consumer satisfaction.
CONSOLIDATED METROPOLITAN STATISTICAL AREAS (CMSAS). Sprawling giant urban areas that include two or more adjoining SMSAs.
CONSUMER BEHAVIOR. The general manner in which individuals reach decisions related to the selection, purchase, and use of goods and services.
CONSUMERS’ COOPERATIVE. A retail business owned and operated by ultimate consumers to purchase and distribute goods and services primarily to the membership–sometimes called purchasing cooperatives. Comment. The Consumers’ Cooperative is a type of cooperative marketing institution. Through federation, retail units frequently acquire wholesaling and manufacturing institutions. The definition confines the use of the term to the cooperative purchasing activities of ultimate consumers and does not embrace collective buying by business establishments or institutions.
CONSUMER GOODS. Products made expressly for use by the final consumer, as opposed to those made for resale or for further use in the manufacture of other goods.
CONSUMERISM. A movement in which consumers demand that marketers pay more attention to their needs and wants as well as to product quality and service.
CONSUMER PANELS. Groups of consumers that provide information on a continuing basis.
CONSUMER PRODUCT SAFETY COMMISSION [CPSC]. A government agency that is charged with protecting consumers from unsafe products.
CONSUMER SURPLUS. The difference to consumers between the value of a purchase and the price they pay.
CONTRACT CARRIERS. Transporters who are willing to work for anyone for an agreed sum and for any length of time.
CONVENIENCE GOODS. Those consumers’ goods which the customer usually purchases frequently, immediately, and with the minimum of effort in comparison and buying. Examples of merchandise customarily bought as convenience goods are; tobacco products, soap, newspapers, magazines, chewing gum, small packaged confections, and many food products. Comment. These articles are usually of small unit value and are bought in small quantities at any one time, although when a number of them are bought together as in a supermarket, the combined purchase may assume sizable proportions in both bulk and value. The convenience involved may be in terms of nearness to the buyer’s home, easy accessibility to some means of transport, or close proximity to places where people go during the day or evening, for example, downtown to work.
COOPERATIVE MARKETING. The process by which independent producers, wholesalers, retailers, consumers, or combinations of them act collectively in buying or selling or both.
CORRECTIVE ADVERTISING. Advertising required by the Federal Trade Commission to correct previous deceptive advertising.
COST-PLUS. A pricing system in which the cost of the product or service is used as a base to which a profit factor is added.
COUNTERADVERTISING. A Federal Trade Commission plan under which consumer groups can advertise against the sale of a product they consider harmful or uneconomical.
COUPON. A sales promotion device providing a purchase incentive in the form of a price reduction when it is presented with the specified product at the checkout counter and/or mailed to a redemption agency.
CRITICAL PATH SCHEDULING OR CRITICAL PATH METHOD (CPM). A network planning technique used for planning and controlling elements in a project. By showing each of these elements and associated completion time requirements, the “critical path” can be determined. The critical path identifies those elements that actually control the lead time of the project. CPM uses network diagrams with precedence constraints. It is easily run on a computer.
CUMULATIVE QUANTITY DISCOUNTS. These apply to purchases over a given period and the discount usually increases as the amount purchased increases.
CUSTOMER SERVICE LEVEL. A measure of how rapidly and dependably a firm can deliver what customers want; generally measured as a percentage of line items filled “from stock” or within scheduled lead time.
CYCLE STOCK. One of the two main components of any item of inventory, the cycle stock is the most active part, i.e., that which depletes gradually and is replenished cyclically. (Another part of the item inventory is the safety stock which is a cushion of protection against uncertainty in the demand or in the replenishment lead time. The stock level necessary to prevent shortage during ordering, producing, and shipping of replacement work.)
CYCLE TIME. The time it takes in a physical distribution process to complete a process.
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