U
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.
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.
Unique selling proposition: The particular quality, feature or benefit of a product which a competitor's product, although similar, cannot or does not offer.
Unplanned cannibalization: The unexpected loss of sales from one product to another more recently introduced product in the line.
Up-sell: To sell a prospect or customer a product or service of higher value or a series of additional smaller priced items.
V
Value added resellers: Value added resellers provide enhanced product offerings, they take the vendor's product and add additional value, and this may be accomplished through the use of hardware, software, or service.
Value proposition: The specific and definitive offer of value from one organization to another.
Value added tax: A tax based on the amount by which value has been added to a product at each stage of production.
Value-adds: Merchandise that includes something of value designed to encourage an individual to choose one product over another.
VAR: Sales acronym... value added reseller... term generally used to describe an organization that sells another organization's product after adding features to it.
Variability: One of the four characteristics (with inseparability, intangibility and perish- ability), which distinguish a service, variability expresses the notion that a service may vary in standard or quality from one provider to the next or from occasion to the next.
Vendor: A seller or supplier.
Venture capital: Capital invested in a start up business that is thought to have excellent growth prospects but does not have access to capital markets because it is a private company.
Vertical market: A market for a product that is used in one (or few) industries.
Vertical Marketing system: An organized, structured and unified distribution channel system in which producer and intermediaries or middlemen (wholesalers and retailers) work closely together to facilitate the smooth flow of goods and services from producer to end-user.
Viral Marketing: The act of marketing a product or service using tactics that encourage individuals to pass along a marketing message to other individuals (word of mouth, email etc) in order to have the message delivered at an exponential rate and at very little to no cost to the marketer... a successful viral marketing campaign encourages prospects and customers to market a product or service for the marketing company or individual.
Voucher: A type of consumer sales promotion in which vouchers (or coupons) sent by mail or included in newspaper advertisements, etc can be exchanged for merchandise to encourage trial of a new product.
W
What- if method: A closing technique in which the salesperson attempts to isolate the last remaining objection or obstacle to the sale and closes it contingent upon being able to remove the obstacle, also called the contingent method.
White Goods: A classification of consumer durables, which includes refrigerators, dishwashers, clothes dryers, washing machines, etc.
Wholesalers: A marketing intermediary engaged in buying from manufacturers in bulk to resell to retailers or industrial buyers in smaller quantities.
Work place marketing: A direct-selling strategy in which manufacturers sell their products to consumers at their place of work, for example, Avon employs working women to sell its cosmetics in their offices, also known as workplace selling or worksite marketing.
Worldwide adaptation: A strategy used in global marketing in which slightly different variations of a product are sold in each country, using promotion and distribution strategies, which have also been modified to suit the particular needs of each country.
