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Q–T

Q

    QA - Quality Assurance
  • Quality assurance is a set of activities intended to establish confidence that quality requirements will be met. QA is one part of quality management.

    QC – Quality Control
  • Subset of quality assurance(link) process, it comprises of activities employed in detection and measurement of the variability in the characteristics of output attributable to the production system, and includes corrective responses.

    QMS - Quality Management System
  • A quality management system is a set of interrelated or interacting elements that organizations use to direct and control how quality policies are implemented and quality objectives are achieved.


 R

    R&D - Research and Development
  • Systematic activity combining both basic and applied research, and aimed at discovering solutions to problems or creating new goods and knowledge. R&D may result in ownership of intellectual property such as patents.


    ROI - Return on Investment.
  • Fundamental measure of business performance, of a whole business, a part of a business, a business activity or decision - anything with a cost and attributable profit.

   RSP - Recommended Selling Price
  • The price the manufacturer recommends that the retailer should sell it for. The intention was to help to standardize prices among locations. While some stores always sell at, or below, the suggested retail price, others do so only when items are on sale or closeout.

S

   Sales Lead
  • A person or organization exhibiting key characteristics that suggest to a salesperson that further information gathering is warranted in order to determine (i.e., qualify) whether they are a sales prospect.

   SEO - Search Engine Optimization
  • Internet marketing strategies designed to attain higher rankings for company websites within users’ search engine queries.
   S&OP - Sales and Operational Planning
  • A decision making process, to balance demand and supply, to align volume and mix, and to integrate financial and operating plans.

   SOM – Share of Market
  • A company's share of the market that it competes in.

   SOV – Share of Voice
  • A company's share of media spending within the market.


   SKU - Stock Keeping Unit
  • A unique identifier for each distinct product and service that can be purchased. Usage of the SKU system is rooted in data management, enabling the merchant to systematically track their inventory, such as in warehouses and retail outlets, and are often assigned and serialized at the merchant level. Each SKU is attached to an item, variant, product line, bundle, service, fee, or attachment.

   SRP - Shelf Ready Packaging
  • Packaging that protects products throughout the supply chain, sells the product on shelf and help increase in store replenishment efficiency.

   Social capital
  • Represents the active connections between people; including trust, mutual understanding, shared values, and behaviours that bind together the members of groups, networks, and communities and make cooperation possible; or, comprises the norms and relations embedded in social structures that enable people to coordinate action to achieve desired goals.

   Social Responsibility
  • A characteristic of an organization that shows concern for the people and environment in which it transacts business. With such concerns being communicated and enforced within the entire organization and, in some cases, with business partners.


   Stakeholder
  • A part of the marketer’s external environment that are represented by groups who have an interest (i.e., stake) in the company and include Connected Stakeholders and Peripheral Stakeholders.

    Strategic intent
  • Is the desired future state or aspiration of an organisation

   Subcontracting
  • Signing a contract with a company for them to do part of the work for a project
From BBC

   Synergy
  • This can occur in situations where two or more activities or processes complement each other, to the extent that their combined effect is greater than the sum of the parts.

T

   Target Marketing
  • A strategic approach in which an organization attempts to get the most from its resources. This is done by following a planned procedure for identifying customers who possess the greatest potential to respond to the marketer’s efforts and help the marketer meet objectives.

   TPR - Temporary Price Reduction
  • A short-term price reduction to increase sales of a product for a specific time period.


   TM - Trade Marketing
  • A discipline of marketing that relates to increasing the demand at wholesaler, retailer, or distributor level rather than at the consumer level. However, you need to continue with your Brand Management strategies to sustain the need at the consumer end. To ensure that a retailer promotes your product against competitors, you must market your product to the retailers, also. Trade marketing might also include offering various tangible/intangible benefits to retailers.

   TQM - Total Quality Management.
  • A management philosophy embracing all activities through which the needs and expectations of the customer and the community, and the objectives of the organization, are satisfied in the most efficient and cost-effective way. This is done by maximizing the potential of all employees in a continuous drive for improvement.


   Trademark
  • A registered name or logo that is protected by law. Must be registered with the UK Intellectual Property Office.

    Trade Investment
  • Funds invested in the retailer in order to sell products to consumers. Trade investment includes unconditional and conditional components. Conditional trade investment includes funding temporary price reductions(link), trading terms agreements and early settlement discounts. Unconditional trade investment includes margin enhancement monies and ullage (waste) allowances.

   Transit time
  • Measured by the number of days (or hours) from the time a shipment leaves your facility to the time it arrives at the customer's location.  Often measured against a standard transit time quoted by the carrier for each traffic lane.  Unless you are integrated into your customers' systems, you will have to rely on freight carriers to report their own performance.  This is often an important component of lead-time. Transit times can vary substantially, based on freight mode and carrier systems.