1. Packaging: Designing and manufacturing the container or wrapper for the product.
2. Patronage Rewards: Cash or other awards for the regular uses of a certain company’s products or service.
3. Penetration Pricing: Placing a low price on a new product so that it will secure quick acceptance and preclude competition.
4. Perceived Value Pricing: A strategy in which the price of a product or service is based upon the buyer’s perception of its value rather than on the seller’s cost of production.
5. Percentage Analysis: Determining the percentage of a total figure accounted for by a specific aspect of the company’s marketing operation.
6. Perception: The process through which an individual - selects relevant stimuli from the environment, organizes it and assigns meaning to it.
7. Performance Improvement Analysis: Determining why performance is not up to the standards and developing corrective action to improve poor performance.
8. Perishability: A characteristic of service indicating that it is highly perishable and can not be stored.
9. Person Marketing: Activities undertaken to create, maintain or change attitudes or behavior towards particular persons.
10. Personal Selling: A sales technique which frequently involves face to face contact between salesman and customer to satisfy their needs and desires and attempts to obtain, their purchase by the market.
11. Physical Distribution: The marketing management function that decides the route taken by the finished goods from the point of origin to the point of sale.
12. Place Utility: The value that products have because they are available where purchasers want them. Place utility is provided by transportation function.
13. Planned Obsolescence: A product strategy designed to make an existing product out of date and thus to increase the market for replacement products. There are two forms Technological and style.
14. Point of purchase (pop) Materials: The collective name for promotional tools used in sales displays (e.g., banners, price cards, posters etc.)
15. Post Decisional Dissonance: The state of doubt that arises in a buyer’s mind after purchase because of regret about lost options.
16. Post Testing: Measuring the effectiveness of a promotional campaign after its completion.
17. Post Testing of Advertisement: Research designed to determine the effectiveness of an advertisement or advertising campaign after its general appearance in the media.
18. Pre Emptive Pricing/Keep out Pricing/Stay Out Pricing: A strategy in which price levels are set so low that makers of competing products are discouraged from entering the market place.
19. Pre Emptive Marketing: The advertising of a product or service before it is actually available in the market place in an effort to foretell the purchase of a competitor's product.
20. Predatory Pricing/Put out pricing/Extinction Pricing: The setting of prices at a level so low as to derive competitors out of business.
21. Premium Pricing/Prestige Pricing: The setting of the price at a level above that commonly found in the market place in an effort to indicate that the product is of premium quality.
22. Presentation: The stage in the sales process during which a salesperson translates the features of the products he is selling into benefits the customer can understand.
23. Prestige Pricing: Setting the price of a product high to benefit from the price-quality relationship that exists in many consumer’s minds.
24. Pretesting: Measuring the effectiveness of an organization’s promotion on a small part of the market before spending for a large scale campaign.
25. Pretesting of Advertisement: Research designed to determine the effectiveness of an advertisement or advertising campaign prior to the general appearance in the media.
26. Price: The amount of money and/or products needed to acquire some combination of another product and its accompanying services.
27. Price Discrimination: Selling the same product to two different competitive buyers at different prices.
28. Price Leader: A dominant member of an industry that announces pricing policies and is usually followed by, other firms in the industry.
29. Price Lining: A common practice of retailers that involves charging different prices for different quality levels of a product.
30. Pricing: The marketing function concerned with the establishment and maintenance of an overall pricing program.
31. Primary Data: First-hand data collected by the researcher.
32. Primary-Demand Advertising: Advertising designed to stimulate demand for a generic product.
33. Principle 20/80: A small percentage of the firm’s products customers, salespeople etc., accounts for large percentages of sales volume and profit.
34. Private (distributor) Brands: Products that carry the middleman’s brand instead of manufacturer’s brands.
35. Product: A combination of physical and intangible attributes, services and symbols designed to supply certain expected benefits to users.
36. Product Image: The sun total of attitudes and knowledge that people hold of a product.
37. Product Life Cycle: A series of stages through which a product or service passes as it evolves into the market place often classified into introduction, growth, maturity, and decline.
38. Product Development: The creation of a physical product for market introduction.
39. Product Item: A specific member of a product line/A specified model, brand or size of a product that a company sells.
40. Product Line: A group of products that are closely related in some way or the another /the line of products having similar characteristics.
41. Product Mix: The total composite of all products offered by a company.
42. Product Management: The marketing function that involves developing new products and services that satisfy customer’s needs and wants, management of these products and services over their lifetime and consideration of marginal products and services for elimination.
43. Product Differentiation: It seeks to create a difference in people’s minds between the marketer’s brand and rival brands that seek to serve the same mas market.
44. Product Adaptation Strategy: An international product planning strategy in which domestic products are modified to meet language needs, taste preference, foreign conditions, electrical requirements, water conditions, or legal regulations.
45. Product Development: A product/market opportunity matrix strategy in which a firm develops new or modified products to appeal to present markets.
46. Product Positioning: Creating and maintaining in the mind of target customers the intended image for the product relative to other brands so they will perceive the product as possessing, the attributes they want.
47. Product Detection/Product Pruning: The withdraw of a product from a company’s line of products, generally because it is no longer profitable.
48. Productivity Measures: Productivity measures determine the effectiveness of the performance of a given resource by expressing a variable on a per unit basis.
49. Professional Pricing: The approach used by many doctors and lawyers who are bound by ethical codes in setting their fees, or prices. Such codes are based on the premise that standard fees are more appropriate than fees based on the amount of time spend with individual patients or clients.
50. Professional Sales: Salespeople who sell to medical doctors, architects, and other professionals. They establish a strong personal relationship with the professionals, provide samples, brochures, and other services, and are continually on the lookout for new product development, new uses for existing products, and new products.
51. Profitability Analysis: Determining net profit accounted for by various areas of a company’s marketing operations, such as individual customers, individual salespeople, and individual products.
52. Promotion Mix: One of the four major components of the marketing mix, involves a careful blending of advertising, personal selling, sales promotion, public relations, publicity and packaging to accomplish the organization’s promotional objectives.
53. Promotional Allowance: A payment or reduction from list price granted by sellers to compensate buyers for performing promotional service.
54. Prospecting: Determining With current and prospective customers will help maximize sales volume, profit, and the sales person’s income.
55. Prosperity: The phase of the business cycle characterized by high income, employment, and business growth.
56. Psychographic Segmentation: Classification of personal activities, interests, and opinions that attempt to measure consumer lifestyle patterns.
57. Public Relations: Any message that attempts to generate a favorable attitude toward an organization among employees, stockholders, suppliers, and the government as well as among customers.
58. Publicity: Any form of non-paid commercially significant news or editorial comment about ideas, products or institutions.
59. Pull Strategy: Stimulating consumer or industrial user’s demand by focusing promotional effort directly on ultimate consumers or industrial users instead of middlemen in the marketing channel.
60. Pure Competition: A type of market structure where there are many small sellers and buyers, a homogeneous product, easy entry into and exit from the industry, all buyers buy and all sellers sell under the same conditions and perfect information in the hands of buyers and sellers.
61. Pure Monopoly: A type of market structure in which one firm manufacturer a product that has no close substitute.
62. Push Strategy: Focuses on pushing a product through the marketing channels. Typically, involves heavy reliance by the manufacturer on the company’s sales force and various types of sales promotion directed to company salespersons and to middlemen and their sales forces.