Umbrella Pricing - a pricing situation common in oligopolistic market
situations where the larger firms, by keeping prices high, create room
for smaller companies to operate profitably below them. See Keep-Out Pricing.
Unaided Recall Test - a means of evaluating the effectiveness of a company's
recent advertising; without help from the researcher, selected respondents
from the target market are asked to bring to mind advertisements they have
seen or heard recently. See Aided Recall Test; Recall Test.
Unbundling - eliminating one or more of the elements of a firm's product
offering; for example, a firm selling computers might discontinue its offer
of free training with each computer sold, deciding instead to charge separately
for it. See Bundling.
Undifferentiated Marketing - see Mass Marketing.
Uniform Delivered Price - a pricing method, sometimes referred to as
"postage stamp" pricing, in which all customers pay the same
freight costs regardless of their distance from the dispatch point; also
called Single-Zone Pricing. See Zone Pricing.
Unique Selling Proposition - the particular quality, feature or benefit
of a product which a competitor's product, although similar, cannot or
does not offer; commonly referred to as the USP.
Unit Cost - see Average Cost.
Unit Pricing - an aspect of labelling in which, either by law or under
voluntary industry codes, marketers are required to mark the price per
unit of standard measure on certain product items as well as the price
of the item so that shoppers in retail stores can compare packs of varying
weight and volume.
Unit Volume Quota - a common form of sales assignment, goal or target
used to measure a salesperson's performance; the salesperson is expected
to sell a certain number of units of the product or product range in each
budget period. Other commonly used types of quota are dollar volume quota,
gross margin quota, net profit quota and activity quota. See Sales Quota.
Universal Product Code - the American system of computer-assisted product
identification; the equivalent system in Australia is the Australian Product
Number. See Australian Product Number.
Universality - a feature of ideas marketing that distinguishes it from
other forms of marketing; universality means that ideas can be made (and,
therefore, marketed) by anyone.
Universe - see Population.
Unplanned Cannibalisation - the unexpected loss of sales from one product
to another more recently introduced product in the line; unplanned cannibalisation
is more likely when there is little significant difference between the
two products. See Cannibalisation; Planned Cannibalisation.
Unsegmented Marketing - see Mass Marketing; Undifferentiated Marketing.
Unsought Goods - a category of goods and services which the buyer (a)
is unaware of, or (b) would prefer not to think about buying; commonly
quoted examples include cemetery plots, encyclopedias and life insurance.
See Convenience Goods; Shopping Goods; Specialty Goods.
UPC - abbrev. Universal Product Code.
Upside Elasticity - a term used in reference to the sensitivity of consumers
to an increase in the price of a particular product; upside elasticity
means that there will be a significant drop in consumer demand as prices
increase. See Upside Inelasticity; Downside Elasticity; Downside Inelasticity.
Upside Inelasticity - a term used in reference to the sensitivity of
consumers to an increase in the price of a particular product; upside inelasticity
means that there will be no significant change in demand as prices increase.
See Upside Elasticity; Downside Elasticity; Downside Inelasticity.
Upward Stretching - introducing a new product into a product line at
the higher priced end of the market. See Downward Stretching; Two-Way
Stretching.
Usage Rate - a measure of the quantity of a product consumed by a user
in a given period; users may be subdivided as heavy, moderate and light.
See Behaviouristic Segmentation.
Users - those individuals in the buying centre who will actually use
the product being considered for purchase. See Buying Centre.
USP - abbrev. Unique Selling Proposition.
Utility - the inherent quality or ability of a product to satisfy a
want. See Economic Utility; Form Utility; Information and Image Utility;
Place Utility; Time Utility; Possession Utility.
