DEFINITION OF MARKETING R - S

The practice of using different marketing mixes to accommodate unique preferences and competitive conditions in different geographical areas.
Relevant cost

Expenditures that are expected to occur in the future as a result of a specific marketing action and differ among other potential marketing alternatives.
Repositioning

The process of strategically changing consumer perceptions surrounding a product or service.
Rogers,

Everett Author who studied and published work on the diffusion of innovation.

The level of sales a single organization expects to achieve based on a chosen marketing strategy and assumed competitive environment.
Scrambled merchandising

The practice by wholesalers and retailers that carry an increasingly wider assortment of merchandise.
Selective distribution

A strategy where a producer sells their products or services in a few select retail outlets in a specific geographical area.
Situation analysis

The assessment of operations to determine the reasons for the gap between what was or is expected, and what has happened or what will happen.
Skimming pricing strategy

Setting a relatively high initial price for a new product or service when there is a strong price-perceived quality relationship that targets early adopters that are price insensitive. This strategy may include lowering the price over time.
Slotting allowances

Payments to retail stores for acquiring and maintaining shelf space.
Strategic control

The practice of assessing the direction of the organization as evidenced by its implicit or explicit goals, objectives, strategies, and capacity to perform in the context of changing environmental and competitive actions.
Strategic marketing management

The planned process of defining the organization’s business, mission, and goals; identifying and framing organizational opportunities; formulating productmarket strategies, budgeting marketing, financial, and production resources; developing reformulation and recovery strategies.
Success requirements

The basic tasks that must be performed by an organization in a market or industry to compete successfully. These are sometimes categorized as “key success factors.” Sunk cost Past expenditures for a given activity that are typically irrelevant in whole or in part to future decisions. The “sunk cost fallacy” is an attempt to recoup spent dollars by spending still more dollars in the future.
SWOT analysis

A formal framework of identifying and framing organizational growth opportunities. SWOT is an acronym for an organization’s internal Strengths and Weaknesses and external Opportunities and Threats.