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Market Testing
A service contracting technique
that refers to the use of public-private competition to compare or benchmark inhouse
service delivery approaches and costs
against the private sector. (Ferrell and Hirt
2002)
-
Market Value
The price that a product, service,
or property might be expected to bring if
offered for sale in a fair market (i.e., one that
is not prone to fluctuations).
-
Market-Based Pricing
A pricing strategy that sets
the value of a product from the market
perspective and is based on supply and
demand.
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Market-Oriented Pricing
Price setting that occurs
when prices are defined according to the
range of the quality of the product or service
provided by the supplier.
-
Marketing
The action of promoting and selling a
good or service, which includes market
research and advertising.
-
Marketing Channel
A group of organizations that
moves products from their producer to
customers; also called Channel of
Distribution. (Ferrell and Hirt 2002)
-
Maslow’s Hierarchy (of Need)
In psychology, a
five-tier model in which human needs are
ranked in order from lowest to highest.
-
Mass Production
The manufacture of a large
quantity of a standardized good, often by an
automated process.
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Material
The substance from which something is
composed or made.
-
Material Credit
A credit issued by a warehouse
upon the return of requisitioned supplies
found to be in excess of requirements.
