Online Learning CentrePrinciples & Practice of Marketing, 3/e by David Jobber
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Glossary of Key Terms

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O

Omnibus survey
a regular survey usually operated by a market research specialist company which asks questions of respondents

Operant conditioning
the use of rewards to generate reinforcement of response

Opportunity
a situation favourable to the achievement of the organization’s objectives, usually characterised by unfulfilled customer demand, the organization being in a position to meet that demand and the relative weakness or total absence of competition.

Opportunity cost
that which is foregone in the pursuit of a given strategy

Order point
the level of inventory at which re-ordering is advisable to avoid stock-outs caused by the lead-time to resupply

Order-creators
salespeople who do not receive orders directly as they talk to specifiers rather than buyers

Order-getters
salespeople who attempt customers to place an order directly

Order-takers
salespeople who respond to already committed customers

Organizational salespeople
salespersons whose role is to maintain close long-term relationships with organizational customers, often involved in team selling

Overt power play
the use of visible, open kinds of power tactics

Own label
retailer’s own brand

Own-label brands
brands created and owned by distributors or retailers


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