Marketing dictionary -R
R & D
Research and Development.
Rack-Jobber
a specialised form of merchant wholesaler supplying non-general lines to supermarkets, pharmacies, hardware stores, etc.
Rational Appeals in Advertising
advertising messages, usually product-feature based, in which advertisers attempt to achieve their objectives by appeals to logic and reason rather than to the emotions. See Emotional Appeals in Advertising.
Rational Buying Motives
reasons for buying that are based on logic or judgement rather than on emotion.
Raw Materials
a classification of industrial goods that are basic materials which become part of a physical product in the manufacturing process.
RDC
abbrev. Regional Distribution Centre.
Reach
the percentage of the target audience which will be exposed to at least one advertisement during the specified period of the campaign.
Reactive Marketing Control Systems
evaluation and control systems in which management finds that marketing performance is not satisfactory and takes corrective action; after-the-fact and steering control are reactive systems. See Proactive Marketing Control Systems; Adaptive Control System; After-the-Fact Control System; Steering Control System.
Reactive Marketing Strategies
marketing activities forced upon an organisation by competitive action; defensive strategies. See Proactive Marketing Strategies.
Real Positioning
the modification of a product offering so that it delivers more satisfactorily the benefits that buyers of this kind of product desire. See Market Positioning; Repositioning.
Rebate
a temporary price reduction to encourage immediate purchase.
Recall
see Product Recall.
Recall Tests
a means of evaluating the effectiveness of a company's recent advertising by asking respondents to bring to mind advertisements they have read, heard or viewed. See Aided Recall; Unaided Recall.
Receiver
the target of a message in the communication process.
Recession
Reciprocity
a practice, which may be illegal under the Trade Practices Act, in which a firm gives purchasing preference to a firm to which it sells. See Reverse Reciprocity.
Recognition Tests
a means of evaluating the effectiveness of a firm's recent advertising; respondents are shown an advertisement, asked if they have seen it before, and, if so, are quizzed on its contents.
Recruiting
see Sales Personnel Recruitment.
Recycling
the collection and processing of used materials for reuse.
Redemption
the conversion of a sales promotion coupon to a purchase.
Redemption Rate
the number of sales promotion coupons converted to purchases expressed as a percentage of the number distributed.
Reduced Price Pack
a type of consumer sales promotion in which two or more units of the same product are banded together and sold at a lower price.
Reference Groups
all of those whose influence plays some part in the buying behaviour of consumers. See Aspirational Reference Group; Contactual Reference Group.
Referral Selling
selling to customers whose names have been suggested by previous satisfied customers.
Reflective Probes
neutral statements of the salesperson reaffirming or repeating a customer's comment in order to stimulate the customer to provide more information.
Regional Brands
manufacturers' brands sold only in certain regions.
Regional Shopping Centre
a major retail shopping complex serving a distinct geographic area of a city or state, housing at least one major full-line department store and a number of other retailers and service providers.
Registered Design
a form of legal protection against the copying by a competitor of the external appearance of a product.
Regressive Commission
a sales commission system in which the rate of commission paid decreases with the quantity of goods sold. See Progressive Commission.
Regulatory Environment
that part of the firm's external marketing environment on which legal and political forces act to change regulations which affect the marketing effort; regulation changes can pose threats or present opportunities.
Reinforcement
the reward or punishment delivered by a particular response to a stimulus.
Reinforcement Advertising
advertising intended to reassure purchasers, to tell them that they have done the right thing in buying the particular product and to explain how to get the best results and most stisfaction from its use; the purpose of reinfrcement advertising is to maintain market share.
Reinforcement Advertising
advertising to reassure the buyer that the right product has been purchased.
Relationship Selling
selling in which the primary objective is the building of long-term relationships with customers from which repeat business will flow.
Relative Advantage
the degree to which a new product is superior to an existing one; a major determinant of the rate of adoption of a new product. See Adoption Rate Determinants.
Relative Market Share
the size of a company's share of the market compared to that of competitors.
Reliability
the accuracy with which data in a marketing research study has been collected; a reliable marketing research study should produce similar results if repeated.
Remarketing
marketing activity intended to encourage renewed use of a product in which market interest has declined.
Reminder Advertising
advertising aimed at reminding a target market that a product is available as opposed to informing or persuading it; typically associated with products in the mature stage of their life cycle. Also referred to as Retentive Advertising. See Advertising Objectives.
Reorder Frequency
see Economic Order Quantity.
Reorder Level
see Economic Order Quantity.
Repositioning
arranging for a product or brand to occupy some other clear and distinctive position in the market and in the minds of target consumers than that which it presently occupies; repositioning may be necessary or desirable if sales expectations are not being met, or to allow for the introduction to the market of a new product or brand, or similar. See Market Positioning.
Representative
see Sales Representative.
Representativeness
the degree to which a sample of consumers in a marketing research study represents the characteristics of the population as a whole.
Resale Price Maintenance
a practice, now illegal in Australia, in which the manufacturer fixes the price at which a buyer may resell the product.
Research Design
the controlling plan for a marketing research study in which the methods and procedures for collecting and analyzing the information to be collected is specified.
Research Objectives
see Marketing Research Objectives.
Researcher-Controlled Sampling
a form of non probability sampling in which the researcher selects the respondents in a marketing research study. It may result in researcher bias.
Reseller
a middleman; one who buys merchandise to resell it at a profit.
Reseller Market
the market consisting of wholesalers and retailers who buy products for resale purposes.
Response Bias
the inclination of respondents in a marketing research survey to give the answer that they believe the interviewer wants to hear.
Response Elasticity
a measure of the degree to which individuals or groups respond to a marketing program.
Response Selling
a elementary form of selling, common in retailing, in which the salesperson simply responds to the customer's demands; little creativity or persuasion is used.
Response Time
the time taken by a firm to answer a customer inquiry about the status of an order.
Responsiveness
the degree to which people control their emotions when relating to others; used in selling as an indicator of social style. See Social Styles; Amiable; Analytical; Driver; Expressive.
Restraint of Trade
any action which damages in some way another's opportunity to carry on a business.
Retail Advertising
advertising by retailers direct to consumers.
Retail Buyer
an individual employed by a retailer primarily to buy merchandise for resale through the store.
Retail Image
the perception that consumers have of a particular store and of the experience of shopping there.
Retail Mix
the mix of variables, including location, merchandise, communications, price, services, physical attributes and personnel, which form the overall strategic marketing components of retailing.
Retailers
members of the distribution channel who sell directly to the consumer.
Retailer Cooperative
a wholesaling operation established by a group of retailers to give themselves a buying advantage.
Retailing
the activity of selling to buyers who are buying for their own ultimate consumption.
Retentive Advertising
see Reminder Advertising.
Return on Assets Managed
a measure of a firm's profitability; after-tax profit expressed as a percentage of assets used to make it.
Return on Equity
a measure of a firm's profitability; profit achieved in a given period is expressed as a percentage of the total amount invested in the firm by its owners.
Return on Investment
a measure of a firm's profitability in which profits are expressed as a percentage of investment.
Reusable Container
a type of consumer sales promotion in which potential customers are encouraged to buy a particular product because it is packaged in a container that can be used for some other useful purpose when empty.
Reverse Marketing Channel
a marketing channel in which goods (to be recycled or reprocessed) flow backward from consumer to intermediaries to producer; also called a Backward Marketing Channel..
Reverse Reciprocity
a practice in which a firm gives supply preference to another from which it buys.
Risk
the chance a purchaser takes that the product will not function as expected or satisfy the felt want. See Emotional Risk; Financial Risk; Performance Risk; Physical Risk; Social Risk.
Risk Avoidance
measures including acquiring information, seeking reassurance from family and friends, obtaining advice from experts, etc. taken by purchasers to reduce the level of anxiety they experience when buying.
ROAM
Return on Assets Managed.
ROI
Return on Investment.
Role Playing
an exercise commonly used in sales training in which one person acts the part of a salesperson and another a buyer to practice selling skills.
Roll out
the launch of a new product on a region by region basis as opposed to a national introduction; the roll out is intended to minimize the risk and to reduce the investment in production and marketing. See National Introduction; New Product Development.
Route Sales force
a sales team consisting of salespeople who call on existing customers to take orders for the company's products; the route sales force does not sell in the traditional sense, but merely inspects a retailer's shelves and restocks them as required.
Routine Re-buy
see Straight Re-buy.
Routine Response Behavior
a buying situation in which the buyer has had considerable past experience; also called Automatic Response Behavior or Habitual Response Behavior. See Extensive Problem Solving; Limited Problem Solving.
Routing
the planning of the best route to be followed by a sales representative in making a series of sales calls; good routing raises both the number of calls the representative is able to make and the ratio of selling time to non-selling time.
RPM
Resale Price Maintenance.
Run-Out Strategy
a strategic decision to allow a product in the decline stage of its life-cycle to continue to be sold, especially if the product has a sizable hard-core market which insists on buying it; often, the marketer may raise the price a little to obtain a slight premium price while paring all promotional costs. See Decline Stage; Product Life cycle.
Research and Development.
Rack-Jobber
a specialised form of merchant wholesaler supplying non-general lines to supermarkets, pharmacies, hardware stores, etc.
Rational Appeals in Advertising
advertising messages, usually product-feature based, in which advertisers attempt to achieve their objectives by appeals to logic and reason rather than to the emotions. See Emotional Appeals in Advertising.
Rational Buying Motives
reasons for buying that are based on logic or judgement rather than on emotion.
Raw Materials
a classification of industrial goods that are basic materials which become part of a physical product in the manufacturing process.
RDC
abbrev. Regional Distribution Centre.
Reach
the percentage of the target audience which will be exposed to at least one advertisement during the specified period of the campaign.
Reactive Marketing Control Systems
evaluation and control systems in which management finds that marketing performance is not satisfactory and takes corrective action; after-the-fact and steering control are reactive systems. See Proactive Marketing Control Systems; Adaptive Control System; After-the-Fact Control System; Steering Control System.
Reactive Marketing Strategies
marketing activities forced upon an organisation by competitive action; defensive strategies. See Proactive Marketing Strategies.
Real Positioning
the modification of a product offering so that it delivers more satisfactorily the benefits that buyers of this kind of product desire. See Market Positioning; Repositioning.
Rebate
a temporary price reduction to encourage immediate purchase.
Recall
see Product Recall.
Recall Tests
a means of evaluating the effectiveness of a company's recent advertising by asking respondents to bring to mind advertisements they have read, heard or viewed. See Aided Recall; Unaided Recall.
Receiver
the target of a message in the communication process.
Recession
Reciprocity
a practice, which may be illegal under the Trade Practices Act, in which a firm gives purchasing preference to a firm to which it sells. See Reverse Reciprocity.
Recognition Tests
a means of evaluating the effectiveness of a firm's recent advertising; respondents are shown an advertisement, asked if they have seen it before, and, if so, are quizzed on its contents.
Recruiting
see Sales Personnel Recruitment.
Recycling
the collection and processing of used materials for reuse.
Redemption
the conversion of a sales promotion coupon to a purchase.
Redemption Rate
the number of sales promotion coupons converted to purchases expressed as a percentage of the number distributed.
Reduced Price Pack
a type of consumer sales promotion in which two or more units of the same product are banded together and sold at a lower price.
Reference Groups
all of those whose influence plays some part in the buying behaviour of consumers. See Aspirational Reference Group; Contactual Reference Group.
Referral Selling
selling to customers whose names have been suggested by previous satisfied customers.
Reflective Probes
neutral statements of the salesperson reaffirming or repeating a customer's comment in order to stimulate the customer to provide more information.
Regional Brands
manufacturers' brands sold only in certain regions.
Regional Shopping Centre
a major retail shopping complex serving a distinct geographic area of a city or state, housing at least one major full-line department store and a number of other retailers and service providers.
Registered Design
a form of legal protection against the copying by a competitor of the external appearance of a product.
Regressive Commission
a sales commission system in which the rate of commission paid decreases with the quantity of goods sold. See Progressive Commission.
Regulatory Environment
that part of the firm's external marketing environment on which legal and political forces act to change regulations which affect the marketing effort; regulation changes can pose threats or present opportunities.
Reinforcement
the reward or punishment delivered by a particular response to a stimulus.
Reinforcement Advertising
advertising intended to reassure purchasers, to tell them that they have done the right thing in buying the particular product and to explain how to get the best results and most stisfaction from its use; the purpose of reinfrcement advertising is to maintain market share.
Reinforcement Advertising
advertising to reassure the buyer that the right product has been purchased.
Relationship Selling
selling in which the primary objective is the building of long-term relationships with customers from which repeat business will flow.
Relative Advantage
the degree to which a new product is superior to an existing one; a major determinant of the rate of adoption of a new product. See Adoption Rate Determinants.
Relative Market Share
the size of a company's share of the market compared to that of competitors.
Reliability
the accuracy with which data in a marketing research study has been collected; a reliable marketing research study should produce similar results if repeated.
Remarketing
marketing activity intended to encourage renewed use of a product in which market interest has declined.
Reminder Advertising
advertising aimed at reminding a target market that a product is available as opposed to informing or persuading it; typically associated with products in the mature stage of their life cycle. Also referred to as Retentive Advertising. See Advertising Objectives.
Reorder Frequency
see Economic Order Quantity.
Reorder Level
see Economic Order Quantity.
Repositioning
arranging for a product or brand to occupy some other clear and distinctive position in the market and in the minds of target consumers than that which it presently occupies; repositioning may be necessary or desirable if sales expectations are not being met, or to allow for the introduction to the market of a new product or brand, or similar. See Market Positioning.
Representative
see Sales Representative.
Representativeness
the degree to which a sample of consumers in a marketing research study represents the characteristics of the population as a whole.
Resale Price Maintenance
a practice, now illegal in Australia, in which the manufacturer fixes the price at which a buyer may resell the product.
Research Design
the controlling plan for a marketing research study in which the methods and procedures for collecting and analyzing the information to be collected is specified.
Research Objectives
see Marketing Research Objectives.
Researcher-Controlled Sampling
a form of non probability sampling in which the researcher selects the respondents in a marketing research study. It may result in researcher bias.
Reseller
a middleman; one who buys merchandise to resell it at a profit.
Reseller Market
the market consisting of wholesalers and retailers who buy products for resale purposes.
Response Bias
the inclination of respondents in a marketing research survey to give the answer that they believe the interviewer wants to hear.
Response Elasticity
a measure of the degree to which individuals or groups respond to a marketing program.
Response Selling
a elementary form of selling, common in retailing, in which the salesperson simply responds to the customer's demands; little creativity or persuasion is used.
Response Time
the time taken by a firm to answer a customer inquiry about the status of an order.
Responsiveness
the degree to which people control their emotions when relating to others; used in selling as an indicator of social style. See Social Styles; Amiable; Analytical; Driver; Expressive.
Restraint of Trade
any action which damages in some way another's opportunity to carry on a business.
Retail Advertising
advertising by retailers direct to consumers.
Retail Buyer
an individual employed by a retailer primarily to buy merchandise for resale through the store.
Retail Image
the perception that consumers have of a particular store and of the experience of shopping there.
Retail Mix
the mix of variables, including location, merchandise, communications, price, services, physical attributes and personnel, which form the overall strategic marketing components of retailing.
Retailers
members of the distribution channel who sell directly to the consumer.
Retailer Cooperative
a wholesaling operation established by a group of retailers to give themselves a buying advantage.
Retailing
the activity of selling to buyers who are buying for their own ultimate consumption.
Retentive Advertising
see Reminder Advertising.
Return on Assets Managed
a measure of a firm's profitability; after-tax profit expressed as a percentage of assets used to make it.
Return on Equity
a measure of a firm's profitability; profit achieved in a given period is expressed as a percentage of the total amount invested in the firm by its owners.
Return on Investment
a measure of a firm's profitability in which profits are expressed as a percentage of investment.
Reusable Container
a type of consumer sales promotion in which potential customers are encouraged to buy a particular product because it is packaged in a container that can be used for some other useful purpose when empty.
Reverse Marketing Channel
a marketing channel in which goods (to be recycled or reprocessed) flow backward from consumer to intermediaries to producer; also called a Backward Marketing Channel..
Reverse Reciprocity
a practice in which a firm gives supply preference to another from which it buys.
Risk
the chance a purchaser takes that the product will not function as expected or satisfy the felt want. See Emotional Risk; Financial Risk; Performance Risk; Physical Risk; Social Risk.
Risk Avoidance
measures including acquiring information, seeking reassurance from family and friends, obtaining advice from experts, etc. taken by purchasers to reduce the level of anxiety they experience when buying.
ROAM
Return on Assets Managed.
ROI
Return on Investment.
Role Playing
an exercise commonly used in sales training in which one person acts the part of a salesperson and another a buyer to practice selling skills.
Roll out
the launch of a new product on a region by region basis as opposed to a national introduction; the roll out is intended to minimize the risk and to reduce the investment in production and marketing. See National Introduction; New Product Development.
Route Sales force
a sales team consisting of salespeople who call on existing customers to take orders for the company's products; the route sales force does not sell in the traditional sense, but merely inspects a retailer's shelves and restocks them as required.
Routine Re-buy
see Straight Re-buy.
Routine Response Behavior
a buying situation in which the buyer has had considerable past experience; also called Automatic Response Behavior or Habitual Response Behavior. See Extensive Problem Solving; Limited Problem Solving.
Routing
the planning of the best route to be followed by a sales representative in making a series of sales calls; good routing raises both the number of calls the representative is able to make and the ratio of selling time to non-selling time.
RPM
Resale Price Maintenance.
Run-Out Strategy
a strategic decision to allow a product in the decline stage of its life-cycle to continue to be sold, especially if the product has a sizable hard-core market which insists on buying it; often, the marketer may raise the price a little to obtain a slight premium price while paring all promotional costs. See Decline Stage; Product Life cycle.
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