Glossary of Marketing

Buying decisions are rarely made by one person in an organisation. Effective selling must identify how the group of people who make a decision to buy, the DMU, is comprised.

Fast Moving Consumer Goods are those that are produced and bought in large numbers. Typically they are low-cost, high-volume items that consumers buy on a regular basis.

During the marketing planning process, an audit must be carried out. Before an organisation can decide where it wants to go and how it wants to get there, it must first know where it is.

A revolutionary stock management system that aims to minimise stock held in the business. By getting stock where it is needed Just In Time, extra cashflow is available for the organisation.

Effective marketing can elongate any of the four stages that a product passes through. However, decisions must be made what to do with the product before it begins to decline.