L
Browse A-Z
Select a letter to find terms listed alphabetically.
Viewing terms beginning with 'Ll'
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LAN Internetwork
Geographically dispersed different computer systems which are so well inter-connected that they are more...
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LPO
abbrev. Landing Page Optimisation. Commonly swapped with CRO, Landing Page Optimisation involves creating more...
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LSI
Latent Semantic is a mathematical method used to determine the relationship between terms more...
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Label
the part of a package that carries information about the product it contains; more...
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Labelling
activities associated with the design and content of the wording on a product more...
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Laboratory Test Markets
see Accelerated Test Marketing. more...
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Labour
The aggregate of all human physical and mental effort used in creation of more...
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Labour Cost
The cost of wages paid to workers during an accounting period on daily, more...
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Labour Demand
The need for employees and workers in a particular job market such as more...
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Labour Economics
Study of economic behavior of employers and employees in response to changing prices, more...
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Labour Force
1. Number of workers in a firm. 2. Number of individuals in an more...
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Labour Hour
Unit of work that represents the productive effort of one person in one more...
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Labour Intensive
Industry or process where a larger portion of total costs is due to more...
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Labour Market
Labor markets may be local or national (even international) in their scope and more...
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Labour Productivity
Rate of output per worker (or a group of workers) per unit of more...
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Labour Standards
Computed, estimated, or measured values (such as assembly time, operations per hour, output more...
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Labour Supply
Availability of suitable human resources in a particular labor market. more...
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Labour Theory of Value
A theory proposed by Karl Marx that states that the value of a more...
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Labour Turnover
The ratio of the number of employees that leave a company through attrition, more...
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Labour Union
Workers who organise in order to, among other things, promote higher wages and more...
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Laddering
The process of probing to identify the linkages between means (i.e., attributes) and more...
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Laggards
those in a community who are slowest to adopt a new product. more...
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Lagged Effect
see Lagged Response. more...
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Lagged Response
a delayed response by consumers to an advertising campaign; measuring the effect of more...
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Last Sale
Most recent or last price at which commodity or security was traded on more...
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Last-Chance Close
see Standing Room Only. more...
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Late Majority
the large, conservative group in a community slower than all except the 'laggards' more...
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Latent Demand
demand for a product which can satisfy a want which is unable to more...
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Latent Market
A potential market that has been identified for a product or service that more...
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Lateral Shelf File
Filing cabinet in which files are hung side-by-side and not in front or more...
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Law of Demand
Observation that, as a general rule, the demand for a product varies inversely more...
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Law of Diminishing Demand
If the price of a product is raised, a smaller quantity will be more...
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Law of Diminishing Marginal Productivity
An economic rule governing production which holds that if more variable input units more...
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Law of One Price
Purchasing power parity doctrine that the real purchasing power of different currencies tends more...
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Law of Supply
At higher relative prices, the quantity supplied of a good will increase; at more...
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Law of Supply and Demand
The common sense principle that defines the generally observed relationship between demand, supply, more...
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Laws of Nature
Scientific generalizations (arrived at by experimentation and/or observation) that try to explain how more...
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Layoff
A layoff is the termination of employment of an employee or (more commonly) more...
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Layout Inspection
Layout Inspection is the complete measurement of all part dimensions shown on the more...
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Lead Generation
the activity of identifying potential customers. more...
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Lead Scoring
Lead scoring is a behavioural scoring methodology used by sales and marketing for more...
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Lead Time
The total time that elapses between an order's placement and its receipt. It more...
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Leader Pricing
see Loss Leader Pricing. more...
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Leading Indicators
An economic indicator (or business indicator) is a statistic about the economy. Economic indicators allow analysis more...
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Leading Question
(1) Particularly pointed question suggesting further unrevealed particulars. (2) Question in market research more...
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Leads
see Sales Leads. more...
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Leaflet
Printed piece of paper, single or folded-over to make four pages. It can more...
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Lean Manufacturing
Doing more with less by employing 'lean thinking.' Lean manufacturing involves never ending more...
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Lean Production
See Lean Manufacturing more...
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Leapfrog Routing
A method for scheduling calls that requires salespeople to call on a cluster more...
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Learning
fixed behavioural changes resulting from an individual's experiences. more...
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Learning Curve
a graphical representation of the way in which average unit cost of production more...
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Learning Cycle
A theory of learning proposed by David Kolb that consists of four steps, more...
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Learning Map
A graphical representation of complex information that is designed to allow effective assimilation more...
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Learning Organization
Organization that acquires knowledge and innovates fast enough to survive and thrive in more...
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Learning Process
the way in which an individual's behaviour changes as a result of previous more...
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Leasing
the granting, under contract, of use of a product for an agreed upon more...
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Legal and Political Environment
factors in government, the law and the regulatory system which affect the way more...
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Less-Than-Carload Freight Rate
a U.S. term for the freight rate charged by a railroad company when more...
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Level of Analysis
Different perspectives (system, state, individual) from which international politics can be analysed. more...
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Level of Buffering
The amount of excess production capacity in a production line or other manufacturing more...
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Level of Involvement
Degree of intensity of interest that a buyer shows for a certain product more...
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Level of Measurement
The type of data collected; nominal, order, interval or ratio, which subsequently affects more...
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Levels of Management
A part of an organization that maintains responsibility for the productivity and the more...
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Leverage Products
These products have high value and cost to the customer but involve little more...
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Lexicographic Model (of Brand Evaluation)
a model used in the study of consumer decision processes to evaluate alternatives; more...
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Liability
see Product Liability. more...
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License Fee
A form of a use tax charged by various government entities for the more...
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Licensed Characters
figures from fiction, television, movies, etc which are used, under license from their more...
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Licensed Merchandise
Goods produced by a manufacturer (the licensee) who has obtained a license to more...
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Licensed Product Strategy
marketing plans and actions based on the use of licensed characters. more...
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Licensing
the granting of permission by one manufacturing organisation to another to use a more...
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Licensing Agreement
Written contract under which the owner of a copyright, know how, patent, servicemark, more...
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Life Cycle
"1. General: Concept that compares the cyclical nature of families, organizations, processes, products, more...
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Life Cycle Assessment
Comprehensive ecological assessment that identifies the energy, material, and waste flows of a more...
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Life Cycle Cost
the costs associated with the use and maintenance of a product over its more...
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Life Cycle Costing
Procurement and production costing technique that considers all life cycle costs. In procurement, more...
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Life Cycle of a Product
Marketing concept that, like people and living organisms, goods and services pass through more...
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Life Events
Refer to events that require a significant adjustment in a person's life, for more...
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Life Expectancy
The number of years a new-born in a particular society can expect to more...
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Life Stage
Persons in the same part of the life cycle may differ in their more...
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Life Stage Buying Power Segmentation
the division of a total heterogeneous market into relatively homogeneous groups on the more...
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Life Themes
They represent critical values and goals that influence consumers at different stages of more...
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Lifestyle
an individual's way of life as shaped by his or her interests, attitudes more...
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Lifestyle Analysis
The analysis of a person's day-today pattern of living as expressed in that more...
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Lifestyle Research
Research that attempts to explain behaviour by analysing people's attitudes, hobbies, activities and more...
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Lifestyle Segmentation
the division of a total heterogeneous market into relatively homogeneous groups on the more...
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Lifetime Cost
The total cost incurred of possessing certain goods over their lifetime, as an more...
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Lifetime Custom Value(LTCV)
An estimate of how much a given customer contributes to a firmâÂ(TM)s profit more...
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Lifetime Customer Value
An estimate of profit per customer for the total net company profit. more...
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Lifetime value (LTV)
An estimate of the net present value of the stream of benefits from more...
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Light Industry
A section of an economy's secondary industry characterized by less capital-intensive and more more...
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Like-for-like Sales
The method of comparing current year sales figures to prior years sales figures more...
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Like-kind Exchange
Exchange of similar business or investment assets on which any gain or loss more...
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Likert Scale
a rating device frequently used in marketing research questionnaires in which respondents indicate more...
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Limitation of Liability
Written statement listing instances or conditions the manufacturer is responsible for the operating more...
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Limited Decision Making
see Limited Problem Solving. more...
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Limited Distribution
Product which is only sold within a specific location or through a specific more...
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Limited Guarantee
Written undertaking to fulfill a specific obligation. more...
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Limited Problem Solving
buying situations in which a purchaser has had some previous experience but is more...
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Limited Resources
Restricted amounts of inputs required by a business or economy such as motivated more...
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Limited Warranty
Written statement that specifies under what conditions, to what extent, and for how more...
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Limited-Line Department Store
a department store which carries a narrower range of merchandise than a full-line more...
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Limited-Line Retailer
a retailer carrying only one line, or a few related lines, but a more...
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Limited-Line Strategy
the decision by a producer to offer a lesser number of product variations more...
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Limited-Service Research Supplier
In contrast to a Full-Service Research Supplier, a Limited-Service Research Supplier specialises in more...
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Limited-Service Wholesaler
a wholesaler providing less than the full range of services of some other more...
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Line
see Product Line. more...
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Line Extension
see Product Line Exyension. more...
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Line Family Branding
A branding policy in which an organisation uses family branding only for products more...
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Line Filling
Adding more products to an existing product Line in order to leave no more...
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Line Functions
The decision-making areas associated with daily operations. Logistics line functions include traffic management, more...
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Line Manager
see Category Manager. more...
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Line Marketing
A style of promotional activity that focuses attention on communicating to consumers via more...
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Line Organisation
an organisational structure in which authority moves down in a line from the more...
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Line Organization
Business or industry structure with self-contained departments. Authority travels downwards from top and more...
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Line Pruning
see Product Line Pruning. more...
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Line Retrenchment
see Product Line Retrenchment. more...
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Line Scrap
Value of raw materials and work-in-process inventory scrapped as a result of improper more...
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Line of Authority
The chain of command within an organization that confers the power to order more...
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Line of Business
A general category applied to insurers, for example, Homeowners, Health or Life. more...
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Line-of-Marketing Strategy
Strategy Line-of-business (or business) strategy is the managerial action plan for directing and more...
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Linear Learning Model
A brand choice model that views the probability of choosing a particular brand more...
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Linear Market
Traditional distribution channel characterized by a straight line movement of goods from one more...
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Liquid Asset
An asset in the form of cash or convertible to cash in twelve more...
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Liquid Asset Ratio
The amount of liabilities a retail bank can have from a given volume more...
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Liquidity
current assets, other than inventory and work in progress, to which a firm more...
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List Brokers
firms which compile and sell mailing and prospect lists. more...
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List Price
the regular price of a product before any discount is given or allowances more...
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Listed Company
(Fin Marketing) A company whose shares are traded on the stock exchange and more...
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Live Customers
Active customers who are still trading and likely to continue trading with any more...
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Living Standards
The quality of peopleâÂ(TM)s lives. more...
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Loading Objective
one of a three possible aims or objectives (with loyalty objective and trial more...
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Lobby
1. Group that attempts to influence a legislation or government spending plans to more...
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Lobbying
The act of attempting to influence business and government leaders to create legislation more...
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Local Advertising
Local advertising (also called retail advertising) is advertising placed by retailers and other more...
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Local Agent
An agent who works on behalf of the insurance companies in a small more...
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Local Business
A company which provides goods or services to a local population. Though most more...
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Local Buy
the buying of media (print, newspapers, television, radio and outdoor advertising) serving a more...
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Local Community
A group of individuals that interact within their immediate surroundings. A typical local more...
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Local Government
An administrative body for a small geographic area, such as a city, town, more...
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Local Knowledge
Knowledge of a local community possessed by individuals who spend long periods of more...
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Local Market
Clients and customers who will buy a product in the region or area more...
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Local Marketing
Target marketing is leading to marketing programs tailored to the needs of local more...
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Local Rate
1. Shipping: A rate for transportation within a municipality or local region. 2. more...
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Localization
The practice of adjusting a product's functional properties and characteristics to accommodate the more...
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Location Pricing
The same product is priced differently at different locations even though the cost more...
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Locus of Control
The extent to which people believe they have control over situations in their more...
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Logistical Costs
costs involved in the acquisition and transportation of materials required for production, and more...
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Logistical Functions
one of the three kinds of functions (with transactional functions and facilitating functions) more...
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Logistics
activities involved with the orderly and timely acquisition and transportation of materials required more...
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Logistics Channel
The network of supply chain participants engaged in storage, handling, transfer, transportation and more...
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Logit Model
A probabilistic model for representing the discrete brand choice behavior of individuals. On more...
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Logo
a distinctive mark, sign or symbol, or a graphic version of a company's more...
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Long Term Goal
A strategic target that is projected to require significantly more time for completion more...
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Long Term Liability
Obligation payable in goods or services at a future period more than 12 more...
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Long Term Objectives
Performance goals of an organization, intended to be achieved over a period of more...
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Long tailed keyword
Search term phrases with three or more words. more...
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Long-Range Planning
strategic planning over an extended horizon; 'long-range' is commonly thought to be at more...
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Long-Run Average Cost
the average cost per unit of a set or group of products in more...
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Longitudinal Study
Statistical study aimed at identifying a trend over a period of time. more...
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Loophole
Usually-unintended ambiguity, exception, omission, or technical defect in a text that allows a more...
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Loss Leader
a product offered at less than cost to attract purchasers to a store more...
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Loss Leader Pricing
the pricing of a product at less than cost to attract purchasers to more...
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Loss of Market
The loss of the opportunity to sell a specific item to a potential more...
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Lost Account Ratio
a measure used to evaluate salespeople in which the salesperson's ability to keep more...
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Lost Wages
Potential earnings the insured was unable to receive due to an injury or more...
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Lottery
a form of consumer sales promotion in which purchasers are offered to win more...
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Low Cost
A type of pricing method where a business sets a comparatively low price more...
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Low Cost Strategy
A pricing strategy in which a company offers a relatively low price to more...
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Low Pressure Selling
Concentration on winning customers' confidence and respect for long-term gains rather than gaining more...
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Low-Balling
A negotiation strategy in which the salesperson agrees to a low price and more...
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Low-Income Countries
Countries with the lowest income per capita compared with the rest of the more...
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Low-Involvement Hierarchy
A response hierarchy whereby a message recipient is viewed as passing from cognition more...
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Low-Involvement Products
products which are bought frequently and with a minimum of thought and effort more...
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Low-Touch Service
customer service characterised by a low level of personal contact with customers; low-touch more...
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Loyad
A customer who is a 'loyal advocate' for a brand more...
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Loyal Buyers
Firms must invest in relationship building and customer intimacy. more...
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Loyalty
Measure of commitment based on obligation or, in consumer preferences, degree of satisfaction. more...
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Loyalty Discount
That is offered for repeat purchases. Also called patronage discount. more...
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Loyalty Objective
one of three possible aims or objectives (with loading objective and trial objective) more...
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Luddite
One who rejects new technology. After the luddite rioters of 1811-16, who in more...
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Luxury Goods
Products which are not necessary but which tend to make life more pleasant more...