Impulse buying |
Behaviour that involves no conscious planning but results from a powerful, persistent urge to buy something immediately |
Income elasticity of demand |
Income elasticity of demand measures the relationship between a change in quantity demanded and a change in income |
Industrial buyers |
Industrial buyers are those who purchase items on behalf of their business or organisation |
Industrial market |
Industrial markets involve the sale of goods between businesses. These are goods that are not aimed directly at consumers. |
Inferior goods |
Inferior goods have a negative income elasticity of demand. Demand falls as income rises |
Influencer |
A person in a group buying situation (e.g. a family) who exerts significant influence in the final buying decision |
Initiator |
A person in a group buying situation (e.g. a family) who first suggests buying a particular product or service |
Innovators |
Innovators are those who adopt new products first. They are usually relatively young, lively, intelligent, socially and geographically mobile. They are often of a high socioeconomic group (“AB’s”). |
Intensive distribution |
Intensive distribution aims to provide saturation coverage of the market by using all available outlets |
Internal marketing |
The process of eliciting support for a company and its activities among its own employees, in order to encourage them to promote its goals. This process can happen at a number of levels, from increasing awareness of individual products or marketing campaigns, to explaining overall business strategy. |
Introduction stage |
A product's first appearance in the marketplace, before any sales or profits have been made |
Involvement |
The level of interest, emotion and activity which the consumer is prepared to expend on a particular purchase |
