Glossary of marketing terms Absolute advantage

Competitive strategy. The adoption of a specific target market and marketing mix stance in the market place.

Cooperative. A collection of organisations or individuals, pooling their resources in order to gain commercial or non-commercial advantage in buying, selling or processing goods and/or services.

Countertrade. An agreement by the customer to buy goods on condition that the seller buys some of the customer's own products in return.

Culture. The sum total of learned behaviourial characteristics or traits which are manifest and shared by members of a particular society.

Currency swaps. A method to gain access to foreign capital at favourable rates comprising contracts to exchange cash flow relating to the debt obligations of the two counterparts to the agreement.