This section features key phrases and terms that will give the readER insight into marketing and advertising terms.
Keeper: premium used to induce a consumer to take some action, such as completing a survey or trying a
Kerning: Spacing between the letters of a word.
Lanham Act: Federal trademark law.
Layout: A drawing that indicates the relative positions of the elements (e.g., headline, photo, logo, body copy,
etc.) of an ad.
Leading: The space between lines of type.
Leave-Behind: A premium left with prospective customers by a sales person, to remind them of the product or service being sold.
Letterpress: A printing method that stamps ink onto paper, using raised lettering.
Lifestyle Segmentation: Separating consumers into groups, based on their hobbies, interests, and other aspects of their lifestyles.
Lifetime Value of Patients: is a prediction of the projected revenue and/or net profit attributed to and generated by the entire future relationship with a patient over a lifetime. Here’s how to develop a detailed understanding of the lifetime value of your patients:
Step 1: Calculate the profit contribution of each patient in the current year (net profit per visit x number of visits per year).
Step 2: Develop a realistic estimate of how long you might retain each patient.
Step 3: Estimate the cost to acquire a new patient or retain the current patient.
Linage: Refers to the size of an ad, based on the number of lines of type taken up by the ad.
Line Conversion: A high–contrast reproduction of an illustration, where all shading is reduced to either black or white.
List Broker: An agent who sells lists of sales prospects.
Lithography: A printing method in which the printing and non–printing areas exist on the same plane, as opposed to a bi–leveled reproduction.
Local Advertising: (1) Advertising to a local merchant or business as opposed to regional or national advertising.
(2) Advertising placed at rates available to local merchants.
Local Rate: An advertising rate charged to a local advertiser , typically a retailer, by local media and publications,
as distinguished from a national rate that is charged to a national advertiser, typically a manufacturer.
Logotype (logo): A brand name, publication title, or the like, presented in a special lettering style or typeface and used in the manner of a trademark.
Loss Leader: A retail item advertised at an invitingly low price in order to attract customers for the purchase of other, more profitable merchandise.
Lottery: A scheme in which making a required purchase gives a person a chance to win a prize which is
awarded at random, usually through an electronic drawing. Lotteries may not be used as promotion
devices under U.S. laws.
Loyalty Index: Frequency of listenership of a particular broadcast station.
Macromarketing: A type of marketing in which a company adapts itself to uncontrollable factors within the industry.
Mail–in Premium: A premium obtained by mailing in a suitable response to the manufacturer or distributor, with or without money.
Mail–order Advertising: Advertising which supplies paperwork for the purpose of soliciting a purchase made through the mail.
Make Good: (1) To present a commercial announcement after it ”s scheduled time because of an error.
(2) To rerun a commercial announcement because of technical difficulties the previous time it was run.
(3) To rerun a print advertisement due to similar circumstances.
Marginal Analysis: Technique of setting the advertising budget by assuming the point at which an additional dollar spent on advertising equals additional profit.
Market Profile: A summary of the characteristics of a market, including information of typical purchasers and
competitors, and often general information on the economy and retailing patterns of an area.
Market Segmentation: To divide a market by a strategy directed at gaining a major portion of sales to a subgroup in a category, rather than a more limited share of purchases by all category users.
Market Share: The percentage of a product category’s sales, in terms of dollars or units, obtained by a brand, line, or company.
Marketing Firm: A business that affects the distribution and sales of goods and services from producer to consumer; including products or service development, pricing, packaging, advertising, merchandising, and
Marketing Mix: The levels and interplay of the elements of a product’s or service’s marketing efforts, including product features, pricing, packaging, advertising, merchandising, distribution, and marketing budget; especially
as these elements affect sales results.
Marketing Research: The systematic gathering, recording, analyzing, and use of data relating to the transfer and sale of goods and services from producer to consumer.
Master Tape: An edited audio tape or video tape to be recorded on quantity prints or dubs.
Materiality: The FTC theoretically will not regulate a deceptive advertisement unless the deceptive claim is also
material. This means, in simple terms, that the claim must be important to consumers, rather than trivial. The FTC requires that the deception be likely to affect consumers’ “choice of, or conduct regarding, a product.”
Matte Shot: A camera shot made with a matte or mask in part of the frame to allow another shot to be printed in the opaque area.
Mechanical (paste–up): A finished layout that is photographed for offset printing.
Media Buying Service: Agency that specializes in the services of media buying.
Media Concentration Theory: Technique of scheduling media that involves buying space in one medium only and developing strength through concentration.
Media Dominance Theory: Technique of scheduling media that involves buying a large amount of space in one medium, and shifting to another medium after achieving optimum coverage and frequency.
Media Plan: A plan designed to select the proper demographics for an advertising campaign through proper media selection.
Media Strategy: A plan of action by an advertiser for bringing advertising messages to the attention of consumers
through the use of appropriate media.
Medium (plural, Media): A vehicle or group of vehicles used to convey information, news, entertainment,
and advertising messages to an audience. These include television, cable television, magazines, radio, billboards, etc.
Merchandising the Advertising: The promoting of a firm”s advertising abilities to distributors.
Metropolitan Statistical Area (MSA): An urban area with a population of at least 50,000 that is designated by the Office of Management and Budget for statistical reporting purposes and used in audience measurement studies. This is generally synonymous with the former term Standard Metropolitan Statistical Area.
Micromarketing: The activities a firm practices in order to react controllably to external forces, e.g., setting objectives and selecting target markets.
Milline Rate: Used to determine the cost effectiveness of advertising in a newspaper; reached by multiplying the cost per agate line by one million, then dividing by the circulation. Also referred to as Milline.
Motivation Research: Used to investigate the psychological reasons why individuals buy specific types of merchandise, or why they respond to specific advertising appeals, to determine the base of brand choices and product preferences.