CIENCIA.

TERM DEFINITION

• RETAILER

A business or person that sells goods to the consumer, as opposed to a wholesaler or supplier, who normally sell their goods to another business.

• SELLER

A party that makes, offers or contracts to make a sale to an actual or potential buyer. Also called vendor.

• COMPETITORS

Any person or entity which is a rival against another. In business, a company in the same industry or a similar industry which offers a similar product or service. The presence of one or more competitors can reduce the prices of goods and services as the companies attempt to gain a larger market share. Competition also requires companies to become more efficient in order to reduce costs. Fast-food restaurants McDonald's and Burger King are competitors, as are Coca-Cola and Pepsi, and Wal-Mart and Target.

• MARKET DEGMENTS

An identifiable group of individuals, families, businesses, or organizations, sharing one or more characteristics or needs in an otherwise homogeneous market. Market segments generally respond in a predictable manner to a marketing or promotion offer.

• PROVIDER

A person, organization or business that offers a good or service.

• SUPPLIER

A party that supplies goods or services. A supplier may be distinguished from a contractor or subcontractor, who commonly adds specialized input to deliverables. Also called vendor.

• DEALER

Individual or firm that buys goods from a producer or distributor for wholesale and/or retail reselling. Unlike a distributor, a dealer is a principal and not an agent.

• PROMOTION

1. Marketing: The advancement of a product, idea, or point of view through publicity and/or advertising. See also sales promotion.

2. Human Resources: The advancement of an employee's position within the organization.

• STRATEGIC MARKETING

Identification of one or more sustainable competitive advantages a firm has in the markets it serves (or intends to serve), and allocation of resources to exploit them

• MARKET PLACE

Alternative term for market.

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