Glossary of marketing terms Absolute advantage

Decentralised plans. A planning system taking into account differences in product/market conditions.

Demand pattern analysis. The analysis of in-country industrial sector growth patterns.

Devaluation. The reduction in the value of one currency vis a vis other countries.

Diffusion theory. A classification for the adoption of innovation(s) through social phenomenon, characterised by a normal distribution.

Distribution channel. An institution through which goods or services are marketed giving time and place utilities to users.

Dumping. The selling of goods or services in a buying country at less than the production unit price in the selling country, or the difference between normal domestic price and the price at which the product leaves the exporting country.

Duty. The actual custom duty based on an imported good either on an ad valorem, or specification amount per unit or combination of these two.

Ethnocentrism. A home country orientation but with export of surplus production. Exchange rate. The ratio of exchange of one currency to another.