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Top-line Value
The top-line of a company refers to the turn-over. If an offering helps to increase the top-line of a company, we call that increment the top-line value of the offering. If the higher top-line is there to stay, we call it a sustainable top-line value of the offering.
We weren't able to pinpoint real definitions, but here are some references to this topic we could find over the internet:
- The dictionary of sustainable management mentions that top-line and bottom-line are both to be focused for management to be succesful on the long term.
- Many business aspects claim to have a positive effect on the top-line: HR or 'talent' is one of them, information another. Innovations, of course, is todays term number one to have impact on the top-line.
If you know of any document or web page defining top-line value, we would much appreciate your hint.
Industrial Marketing
Industrial Marketing is called a synonym to Business Marketing, yet in languages like Dutch, the word industry is related to manufacturing and to the process industry. That is why, in many non-English countries, industrial marketing gets a much more technological connotation. For outsiders to the business marketing arena, industrial marketing is related to manufacturing.
On Wikipedia too, the industrial marketing page opens with the statement that it is really the same as business marketing. The page also warns that the word industry has connotations that might narrow the definition unintendedly: "Industrial marketing is the marketing of goods and services from one business to another. The word industrial has connotations of heavy machinery, mining, construction etc. but industrial marketing is not confined to these types of business activities."
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Business Marketing
There are plenty of good definitions on Business Marketing all over the internet.
- Let's start off with Wikipedia: "Business marketing is the practice of organizations, including commercial businesses, governments and institutions, facilitating the sale of their products or services to other companies or organizations that in turn resell them, use them as components in products or services they offer, or use them to support their operations.
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Consumer Marketing
A definition of Consumer Marketing cannot easily be found over the net. Most consumer marketing pages speak about marketing without the consumer prefix. It is only in business and industrial marketing literature that the distinction wth consumer marketing is made explicitely. The Barron's dictionary of Marketing Terms e.g. does not list consumer marketing nor business marketing, although it does include both consumer and business advertizing. Also Wikipedia mentions marketing rather than consumer marketing. It is only on its business marketing page, that Wikipedia explicitely mentions consumer marketing as opposed to business marketing. But it is not defined.
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Price
Price is defined in many resources:
- Wikipedia says "In economics and business, price is the assigned numerical monetary value of a good, service or asset. Price is also central to marketing where it is one of the four variables in the marketing mix that business people use to develop a marketing plan."
- Merriam-Webster lists the defition of price as follows:
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Total Cost of Ownership (TCO)
"Total cost of ownership (TCO) is a financial estimate designed to help consumers and enterprise managers assess direct and indirect costs related to the purchase of any capital investment, such as (but not limited to) computer software or hardware. It is a form of full cost accounting limited to costs clearly associated with given devices and systems." This is the definition of Wikipedia on TCO.
Value-based Pricing
With value-based pricing, marketeers try to set a product's price to the value rewarded to it by customers, rather than to a cost-plus price. Some interesting sources on this topic are:
- Wikipedia has just started a stub on this topic and asks for cooperation for expansion and precision. It now says that "The goal of value-based pricing is to align price with value delivered".
- Business Link clearly compares value-based pricing to cost-plus pricing.
- The CEO Refresher determines why prices are often too low and how value-based pricing could help you obtain a higher price.
- Computerworld published an interesting article on the role of data mining for value-based pricing.
If you find a clear and scientific definition on value-based pricing out on the internet, do not hesitate to contact us on this.
Value
Value is explained in various ways. Many encyclopedia make a difference between economic value indicating an absolute amount in currency, versus a marketing value indicating a relative advantage over a perceived quality.
This is what wikipedia says about economic versus marketing value:
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Value of a product within the context of marketing means the relationship between the consumer's expectations of product quality to the actual amount paid for it. Value in marketing can be defined by both qualitative and quantitative measures. On the qualitative side, value is the perceived gain composed of individual's emotional, mental and physical condition plus various social, economic, cultural and environmental factors. On the quantitative side, value is the actual gain measured in terms of financial numbers, percentages, and dollars.
Posted in Value | Terminology Submitted by Jan Lagast on Fri, 2007-04-13 18:11.
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