9.1.8 GLOSSARY

Acceptance or acceptability
It is the extent to which consumers and others in the value chain are willing to consume, distribute or sell a product or service.
(Source: Jamie Anderson; Costas Markides, 2007, “Strategic Innovation at the Base of the Pyramid”)

Boston Matrix
It is a well known tool for the marketing manager. It was developed by the large US consulting group and is an approach to product portfolio planning. It has two controlling aspect namely relative market share (meaning relative to your competition) and market growth.
You would look at each individual product in your range (or portfolio) and place it onto the matrix. You would do this for every product in the range. You can then plot the products of your rivals to give relative market share. This is simplistic in many ways and the matrix has some understandable limitations that will be considered later. Each cell has its own name as follows.
Please have a look at the figure Boston Matrix.
(Source: www.marketingteacher.com/Lessonstore.htm#marketing_strategy).<//a>



Diaries
Diaries are used by a number of specially recruited consumers. They are asked to complete a diary that lists and records their purchasing behaviour of a period of time (weeks, months, or years). It demands a substantial commitment on the part of the respondent. However, by collecting a series of diaries with a number of entries, the researcher has a reasonable picture of purchasing behaviour (Source: http://www.marketingteacher.com/Lessonstore.htm#marketing_strategywww.marketingteacher.com/Lessonstore.htm#marketing_strategy).

Horizontal cooperation or coopetition
It refers to the need to involve competitors in developing a marketing strategy for the innovation.

Omnibus Studies
An omnibus study is where an organisation purchases a single or a few questions on a 'hybrid' interview (either face-to-face or by telephone). The organisation will be one of many that simply want to a straightforward answer to a simple question. An omnibus survey could include questions from companies in sectors as diverse as heath care and tobacco. The research is far cheaper, and commits less time and effort than conducting your own research (Source:  www.marketingteacher.com/Lessonstore.htm#marketing_strategy).

Product life cycle It is based upon the biological life cycle. For example, a seed is planted (introduction); it begins to sprout (growth); it shoots out leaves and puts down roots as it becomes an adult (maturity); after a long period as an adult the plant begins to shrink and die out (decline)
Please have a look at the figure product life cycle.
(Source:  www.marketingteacher.com/Lessonstore.htm#marketing_strategy).<//a>



Testimonial In promotion and advertising, a testimonial or endorsement consists of a written or spoken statement, sometimes from a public figure, sometimes from a private citizen, extolling the virtue of some product. The term "testimonial" most commonly applies to the sales-pitches attributed to ordinary citizens, whereas "endorsement" usually applies to pitches by celebrities.
(Source: http://en.wikipedia.org/wiki/Testimonial)