MARKETING GLLOSSARY (P)

Packaging
Material used to protect goods; also an opportunity to present the brand and logo.

PANSES
Politically Active and Not Seeking Employment - a demographic grouping

Parallel Importing
See 'grey marketing'

Pareto Principle
Also called the 80/20 rule. The principle that about 80% of the outcomes will come from about 20% of your effort.

Payment By Results (PBR)
Remuneration of an employee or service provider according to productivity or other measure of performance

Peer to Peer (P2P) Marketing
Technique of encouraging customers to promote your product to one another, particularly on the Internet. An example might be a web site that offers users a discount on products in return for recruiting new customers for the site. See also 'word of mouth'; 'viral marketing'.

PEEST
Political, Economic, Environmental, Socio-cultural and Technological - a framework for viewing the macro environment. See 'macro-environment'.

Penetration Pricing
Adoption of a lower price strategy in order to secure rapid wide penetration of a market.

Perceptual Mapping
Process of representing consumer perceptions of brands in relationship to each other. Consumers’ perceptions of brands are measured against certain criteria, ie value, customer service, innovation and quality. See ‘Brand Mapping and Brand Maps’.

Perfect Competition
An open market situation where free trade prevails without restriction, where all goods of a particular nature are homogeneous and where all relevant information is known to both buyers and sellers.

Performance Prism
A performance measurement and management framework. It addresses all of an organisation’s stakeholders - principally investors, customers, intermediaries, employees, suppliers, regulators and communities.

Personal Data
Data related to a living individual who can be identified from the information; includes any expression of
opinion about the individual.
Personal Selling
One-to-one communication between seller and prospective purchaser
PEST
Political, Economic, Socio-cultural and Technological - a framework for viewing the macro environment.
See also 'macro-environment'
Pester Power
The influence children have over purchases by adults: an influence which, controversially, advertisers may seek to stimu late.

PESTLE
Political, Economic, Socio-cultural, Technological, Legal and Environmental - a framework for viewing the macro environment. See 'macro-environment'.

Pharming
Redirecting traffic from a website, such as a bank, to a bogus website designed to mimic the original website in order to steal a user’s login details and other personal information.
See ‘Phishing’.

Phishing
Sending legitimate-looking emails, often giving the impression that they are sent from a trusted source, such as a bank, asking for personal information that can be used for identity theft. See ‘Pharming’.

Physical Evidence
The elements of 'marketing mix' which customers can actually see or experience when they use a service, and which contribute to the perceived quality of the service, e.g. the physical evidence of a retail bank could include the state of the branch premises, as well as the delivery of the banking service itself.

PIMS
Profit Impact of Marketing Strategies: a US database supplying data such as environment, strategy, competition and internal data with respect to 3000 business. This data can be used for benchmarking purposes.

Podcast/Podcasting
Term used to define the broadcasting of multimedia files to iPods or other similar devices. Subscribers areable to view or listen to podcasts online.

Point of Sale (POS) (also called Point of Purchase)
The location, usually within a retail outlet, where the customer decides whether to make a purchase. Seealso 'EPOS - Electronic Point of Sale'.

Pop-under
Automatically launched internet advertisement that appears in a small window behind another webpage.See ‘Pop-up'.

Pop-up
Automatically launched internet advertisement that appears in a small window in front of anotherwebpage. See ‘Pop-under'.

Porter's Five Forces
An analytic model developed by Michael E. Porter. The five forces in terms of which the model analysesbusinesses and industries are: Buyers, Suppliers, Substitutes, New Entrants and Rivals.

Portfolio (and Portfolio Analysis)
The set of products or services which a company decides to develop and market. Portfolio analysis is theprocess of comparing the contents of the portfolio to see which products or services are the mostpromising and deserving of further investment, and which should be discontinued.

Positioning
The creation of an image for a product or service in the minds of customers, both specifically to that itemand in relation to competitive offerings.

POSTAR
Poster Audience Research - the UK Outdoor advertising industry audience measurement organisation.

Premium Pricing
Highly pricing a product or service to give an impression of quality or in order to offer the consumer additional service.

Prestige Pricing
Applying a high price to a product to indicate its high quality.
See ‘Premium Pricing’.

Price Maker
A producer who has enough market power to influence prices.

Price Taker
A producer who has no power to influence prices.

Problem Child
See ‘Boston Matrix’.

Product Life Cycle
A model describing the progress of a product from the inception of the idea, via the main period of sales, to its eventual decline.

Product Placement
The use of a product or service within a television or radio programme, or a film: an example would be the appearance of a leading coffee brand on a table in "Eastenders". There are strict guidelines as to the payments that can be given for such appearances.

Professional Marketing Standards
CIM's grid of marketing competencies required to achieve business aims. CIM's new syllabus structure is mapped out against each marketing level as identified in the grid. Previously called Statements ofMarketing Practice. For full copy visit http://www.cim.co.uk/resources/home.aspx.

Professional Services
The services of individuals or companies that are accredited by professional bodies, such as accountants,lawyers and chartered marketers. See also 'Chartered Marketers'
Promotional Mix The components of an individual promotional campaign, which are likely to include advertising, personal selling, public relations, direct marketing, packaging, and sales promotion.

Promotional Plan
Detailed plan describing promotional objectives and activities involved in achieving the role of promotions as laid down in the marketing plan.

Proximity Marketing
The wireless transmission of advertising to compatible devices in a local area.
P's See 'marketing mix'.

Public Relations
The function or activity that aims to establish and protect the reputation of a company or brand, and to create mutual understanding between the organisation and the segments of the public with whom it needs to communicate.

Pull Promotion
Pull promotion, in contrast to Push promotion, addresses the customer directly with a view to getting them to demand the product, and hence "pull" it down through the distribution chain. It focuses on advertising and above the line activities. See also 'push promotion'

Push Promotion
Push promotion relies on the next link in the distribution chain - e.g. a wholesaler or retailer - to "push" out products to the customer. It revolves around sales promotions - such as price reductions and point of sale displays - and other below the line activities. See also 'Sales Promotion'.