T-O Technique - a closing technique commonly used in retailing where
one salesperson "turns over" the customer to another if he or
she fails to close the sale. See Close.
Tactic - a detailed, specific plan or course of action by which a strategy
is to be implemented. See Strategy.
Tactical Planning - planning of the shorter-term tactics to be used
in implementating strategies to be employed in achieving planned marketing
objectives.
Tactile Communication - a form of nonverbal communication or body language
in which touching, handshaking, kissing, etc. conveys a message from sender
to receiver. See Kinesic Communication; Nonverbal Communication; Proxemic
Communication.
Tagging - see Dealer Listing.
Tamper-Proofing - the sealing of packages of products in such a way
as to make deliberate, undetected interference with them, for malicious
or nuisance purposes, virtually impossible.
Tangible Product - see Actual Product.
Tangible Product Attributes - elements of a product which have physical
dimensions or are discernible by the senses. See Intangible Product Attributes.
Tangible Symbol - a service mark or design, usually of solid appearance,
used by some service organisations as a means of positioning their intangible
offerings. See Service Mark.
Target Audience Rating Points - a commonly used measure of the gross
cumulative exposure of an advertising campaign.
Target Margin on Sales - the desired profit on each sale; used to determine
the selling price where the average total cost is known.
Target Market - the group whose needs and wants the company wishes to
satisfy.
Target Price - a price which is set in order to achieve a set percentage
return on investment or a certain level of profit on net sales. See Target
Return Pricing.
Target Public - the group whose needs and wants are served by a nonprofit
organisation.
Target Return on Investment - a pricing method which seeks the achievement
of a desired return on investment.
Target Return Pricing - a pricing method in which a formula is used
to calculate the price to be set for a product to return a desired profit
or rate of return on investment assuming that a particular quantity of
the product is sold.
Targeted Revenue - the desired income from sales of the goods and services
produced.
Tariff - a government tax or duty on imported goods.
TARPS - abbrev. Target Audience Rating Points.
Team Selling - the use of two or more representatives from a selling
company to present a product to a buying organisation; the selling team
may include sales and technical specialists.
Technical Sales Representative - a salesperson hired primarily for his
or her technical or scientific expertise.
Technological Environment - that part of the firm's external environment
in which changes in technology affect the firm's marketing effort; the
changing technological environment may pose threats or present opportunities.
Telemarketing - a cost effective method of selling to prospective customers
and of maintaining contact with existing customers using the telephone
and other advanced telecommunications technologies.
Telephone Interviews - a rapid and moderately inexpensive means of gathering
marketing research data.
Teleshopping - a form of non-store or in-home retailing in which the
consumer can purchase goods and services shown on television; the purchaser
telephones an order, or orders with the aid of a computer, and the products
are delivered to the home. See Home Shopping; Non-Store Retailing.
Terminal Market - the market to which commodity products are shipped
from local and regional markets for processing and packing for final shipment
to wholesalers and retailers.
Territorialisation - the division of a sales region into territories.
Territory - see Sales Territory.
Territory Management - see Sales Territory Management.
Test Market - a city, region or state used to test market reaction to
a new product and marketing program before full commercialisation begins;
test markets can also be simulated by bringing together selected individuals
from the target market. See New Product Development.
Test Marketing - see Market Testing.
Testimonials - written recommendations from satisfied purchasers of
a product to be used in selling it to new prospects.
Theory-in-Use Model - a decision-making tool employing previous learning
and experience; theory-in-use models incorporate statements such as "if
action X is taken, then result Y will occur".
Third-Line Forcing - an arrangement in which a manufacturer sells a
prodcut to a reseller only on the condition that the reseller also buys
another product from some other (nominated) manufacturer. Third-line forcing
is usually illegal under the Trade Practices Act.
Thought-Leader Survey - a technique sometimes used in the exploratory
stage of marketing research where personal interviews are conducted with
community leaders or experts who may be expected to shed some light on
a problem to be investigated.
Threat Matrix - see SWOT Analysis.
Threshold Firm - see Market Nicher.
Thrust Marketing - a term used to refer to situations in which sales
managers change their titles to marketing managers but continue to ignore
the satisfaction of customer needs and wants, emphasising instead the selling
of the products their firms can make most cheaply and easily.
Tie-In Arrangements - an arrangement in which a manufacturer sells a
product to a reseller only on condition that the reseller also buys another
less popular product; also called a Tying Contract. Tie-In Arrangements
are usually illegal under the Trade Practices Act.
Time Analysis - a time management technique in which the amount of time
allocated to each job activity is recorded and later reviewed in order
to plan for more productive use of the available time. See Time Management.
Time Management - the perception of time as a valuable asset and the
systemmatic structuring of it to conserve resources and maximise productivity.
Time Prices - the shopping time, travel time, waiting time, performance
time and monitoring time that are part of the total price a consumer pays
for a product. See Monitoring Time; Non-Monetary Price; Performance Time.
Time Utility - the value given to a product by virtue of the fact that
it is available at the time it is required. See Utility.
Time-Efficient Retailing - a recent trend in retailing in which retailers
attempt to position themselves by emphasising the speed and convenience
of their services, which include non-store retailing, such as computer,
credit card and telephone shopping.
Timing Objection - an objection by a prospective buyer to the timing
of the purchase of the goods offered by a salesperson; the buer indicates
that the goods are not required at this particular time. See Objections.
Title Flow - the transfer of title or ownership of products as they
pass from one member to the next in a channel of distribution. See Marketing
Channels.
Top-Down Approach to Planning - an approach to planning in which senior
management determines objectives, strategies, tactics, etc with minimal
input from subordinates. See Marketing Planning.
Top-Down Approach to Promotion Budgeting - an approach to promotion
budgeting in which the amount to be spent on promotion is determined by
senior management with minimal input from subordinates.
Top-Down Approach to Sales Forecasting - an approach to forecasting
which takes the company's objectives rather than market conditions as its
basis. See Bottom-Up Forecasting.
Total Costs - the sum of the fixed and variable costs incurred in the
production of any given quantity level.
TPC - abbrev. Trade Practices Commission.
Trade Barriers - economic and financial measures, including tariffs,
quotas, documentation requirements, etc. imposed by some countries to limit
the inflow of foreign goods to protect local industries.
Trade Discount - an allowance or price reduction in payment for a channel
member's participation in the distribution network; also called a Functional
Discount. See Discount.
Trade Practices Act - legislation introduced to protect consumers from
unfair dealings with sellers.
Trade Practices Commission - a body established under the Trade Practices
Act 1974 (Commonwealth) to administer and enforce the Act.
Trade Promotions - see Trade Sales Promotion.
Trade Publications - magazines, newletters, journals, directories, etc
which serve the interests of particular industries; often used by salespeople
as a source of leads.
Trade Sales Promotion - an incentive offered to resellers to encourage
them to buy more of a particular product and to sell it more aggressively.
Trade Selling - selling products to wholesalers and retailers for resale
purposes.
Trade Show - an exhibition or fair at which manufacturers display their
products for the benefit of visiting wholesalers and retailers.
Trademark - a name, design or symbol registered for the exclusive use
by a manufacturer to distinguish its product.
Traders - the earliest form of salespeople, existing in most ancient
societies; typically, traders had ownership in the goods they sold.
Trading Areas - major cities and centres of business, often used as
the basis of sales territory organisation to minimise problems caused by
the inequality of territories drawn on strictly geographical lines.
Trading Down - adding a lower-priced version of a product to the range,
generally to capture a new market segment not served effectively because
the original version of the product was too expensive for it. See Trading
Up.
Trading Stamps - a form of sales promotion used by retailers in which
customers receive stamps or coupons in proportion to the amount of their
purchases; the stamps can be redeemed later for merchandise.
Trading Up - adding a higher-priced, higher-quality version of a product
to the range, generally to increase sales of the lower-priced model through
consumer association of its image with the more prestigious model. See
Trading Down.
Traffic Builder - the lowest-priced item in a product line. See Prestige
Builder; Product Line.
Transactional Functions - one of the three kinds of functions (with
facilitating functions and logistical functions) performed by intermediaries
in a marketing channel; transactional functions are the activities associated
with buying products and reselling them, and the risks incurred in keeping
the products in stock. See Facilitating Functions; Logistical Functions.
Transfer Price - the price charged by one division of a large company
for the shipment of its goods from one profit centre to another.
Translation Method - see Boomerang Method.
Traveller - an old term for a salesperson; a travelling salesperson.
Travelling Salesperson - see Traveller.
Trend Analysis - a forecasting method in which likely future sales are
estimated by statistical analysis of previous sales patterns.
Trial Close - a technique used in selling to assess the buyer's readiness
to make a purchase decision. A trial close usually takes the form of questions
that ask for decisions on minor selling points; if the salesperson gets
favourable responses to these questions, he or she can more confidently
attempt to close the sale. See Close; Minor Points Close.
Trial Objective - one of a three possible aims or objectives (with
loading objective and loyalty objective) of a consumer sales promotion;
purchasers are offered incentives to try a new product. See Loading Objective;
Loyalty Objective.
Trickle-Across Concept - the notion that the adoption of a particular
fashion will spread horizontally within several socioeconomic classes at
the same time. See Trickle-Down Concept; Trickle-Up Concept.
Trickle-Down Concept - the notion that the adoption of a particular
fashion will flow downward from one socioeconomic layer or consumers to
the next. See Trickle-Across Concept; Trickle-Up Concept.
Trickle-Up Concept - the notion that the adoption of a particular fashion
will flow upward from one socioeconomic layer of consumers to the next.
See Trickle-Across Concept; Trickle-Down Concept.
Try-On-For-Size Method - a buyer-based approach to pricing in which
salespeople test resellers' reactions to the proposed price of a forthcoming
product before a final decision on price is made.
Turnover Method - see T-O Technique.
Two Level Channel - a marketing channel in which there are two levels
of intermediaries (for example, a wholesaler and a retailer) between the
manufacturer and the end-user. See Marketing Channels.
Two-Way Stretching - introducing new products into a product line at
both the higher and lower priced ends at the same time. See Downward Stretching;
Product Line Stretching; Upward Stretching.
Tying Contract - an agreement, usually illegal, which forces an intermediary
(wholesaler, retailer, etc) to purchase other products in the line in order
to obtain the product actually required.
