Glossary of marketing terms Absolute advantage

Low context culture. High reliance on explicit verbal or written communications or other explicit format.

Market entry. The way in which an organisation enters foreign markets either by direct or indirect export or production in a foreign country.

Market holding price. The charging of a price at what the market can bear in order to hold market share.

Market positioning. The adoption of a specific market stance, either leader, challenger, follower, flanker or adopter, vis a vis competition.

Marketing. Planning, executing and controlling the conception, pricing, promotion and distribution of ideas, goods and services in order to build lasting, mutually profitable exchange relationships satisfying individual and organisational objectives.