glossary

'V'

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Value Added - Benefits received that are not included in the purchase price of the individual good or service.

Value Analysis - An investigation that determines the best product for the money.

Values - A set of beliefs a person holds to be important to him or her. The brand says something about the producer’s values.

Venture Capital - Money made available for investment in innovative enterprises or research, especially in high technology, in which both the risk of loss and the potential for profit may be considerable. Also called "risk capital".

Venture Teams - Is a cross-functional group charged with developing a specific produce or business. 

Vertical Marketing Systems - Professionally managed and centrally programmed networks, pre-engineered to achieve operating economies and maximum market impact.

            Three Types of Vertical Marketing Systems:

1.      Corporate - combines successive stages of production and distribution under a single ownership.

2.      Administered - achieves coordination of successive stages of production and distribution not through common ownership but through the size and power of one of the parties within the system.

3.      Contractual - consists of independent firms at different levels of production and distribution integrating their programs on a contractual basis to obtain more economies and/or sales impact than they could achieve alone.

Viatical - A contractual arrangement in which a business buys life insurance policies from terminally ill patients for a percentage of the face value. Termed as a "viatical settlement".

Viral Marketing - Marketing activities on the internet that take advantage of or accelerate the contagion process. ICQ and Hotmail are examples for companies that grew through viral marketing.

Visual Buzz - Comments that move visually (as opposed to verbally). For example, a new type of shoe creates visual buzz as people observe it.

Visuals - Illustrative material that aids a prospect in increasing memory retention of a presentation.

Visual Tests - To insure that the script is legible and the colors are harmonious.

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