Glossary of marketing terms Absolute advantage

Regression analysis. The selection of an independent variable which accounts for the most variance in a dependent variable.

Retailer. A channel institution which acts as an intermediary between other channel institutions and the end user and who usually breaks bulk, charging a margin for its services.

Revaluation. The increase in the value of one currency vis a vis other currencies.

Search. The collection of relevant information by deliberate searching either formally or informally.

Secondary data. Published accessible data from a variety of sources.

Self reference criterion. Perceptual distortion brought about by an individual's own cultural experience.

Skimming price. The charging of a high price in order to gain maximum revenue conducted under conditions of product uniqueness and inelastic demand patterns.

Sourcing. A decision to have certain components in the value chain manufactured out of the country. Often called the "make of buy" decision.

Standardisation. Same goods or services marketed in either product, distribution or advertising form, unchanged in any country.

Standardised plans. A uniform planning system applied globally, based on economics of scale and consumer uniformity.

Strategic business unit. A self contained grouping of organisations, products or technologies which serve an identified market and competes with identified competitors.

Surveillance. The collection of relevant information which crosses an individual's scanning attention field.

Tariff. An instrument of terms of access normally the imposition of a single or multiple excise rate on a imported good.

Terms of access. The conditions imposed by one country which apply to the importation of goods from another country.

The World Bank. Known also as the International Bank for Reconstruction and Development (IBRD). A bank, with world wide country membership, (United nations) which provides long term capital to and economic development.

Transfer pricing. The price at which goods or services are transferred between one country and another within the same organisation.

Wholesaler. A channel institution which purchases and sells in bulk from either original suppliers and/or other channel intermediaries, charging a margin for its services.