Terminology

Conglomerate -To form or gather into a mass or whole.

-A corporation made up of a number of different companies that operate in diversified fields.

ex. The relationship between MTV and Sprite


Demographic -A portion of a population, especially considered as consumersex. Teenagers


Early Adopter- An early adopter or lighthouse customer is an early customer of a given company, product, or technology; in politics, fashion, art, and other fields, this person would be referred to as a trendsetter.
- In the improvement process, the opinion leader within the organization who brings in new ideas from the outside, tries them, and uses positive results to persuade others in the organization to adopt the successful changes.

ex.



Coolhunting- Observing emerging trends and styles, usually involving street fashion, and selling this market research to companies

ex. A person, or group of people, that go out to the streets, schools, homes or other places, observes and discovers what is "cool", and puts info and pictures on the internet for marketers to examine.



The paradox of Coolhunting- When "cool" is found and advertised, it becomes "uncool".
ex. A marketer advertsising something that has never before been advertised, and teens thinking that it is no longer cool because it doesn't make them unique.


Synergy- The interaction of two or more agents or forces so that their combined effect is greater than the sum of their individual effects.

- Cooperative interaction among groups, especially among the acquired subsidiaries or merged parts of a corporation, that creates an enhanced combined effect.

ex. Sprite and Hip hop


Horizontal Integration-  Merger of firms at the same stage of production in the same or different industries. When the products of both firms are similar, it is a merger of competitors. When all producers of a good or service in a market merge, it is the creation of a monopoly. If only a few competitors remain, it is termed an oligopoly.


Ancillary Markets- Secondary sales targets for a program that has completed its first run(s) on its initial delivery medium.
ex. selling things


The feedback loop- a circuit that feeds back some of the output to the input of a system
ex. knowing how something has been effected through an event, and knowing how to deal with it when something similar happens.