Unplanned cannibalisation The unintentional loss of sales for an existing company's product following the introduction of a similar product to the market
Brand extension The process by which a company develops new products to be marketed under an existing, well-known brand name
Marketing mix The controllable inputs behind how a company pursues its marketing objectives. These are traditionally 'the 4 Ps': product, price, promotion and place. Some have extended the list to 7 Ps however, with people, process and physical evidence joining the set of principles
Food And Drug Administration (FDA) The US Department of Health and Human Services agency responsible for ensuring the safety and effectiveness of all drugs, vaccines and medical devices
Clinical trial enrolment The act of signing up participants into a study. Generally this process involves evaluating a participant with respect to the eligibility criteria of the study and going through the informed consent process
Tactical planning Breaking down a company's wider strategic plan into more short-term, specific and deliverable tactics
Guerrilla marketing The strategy of targeting small and specialised customer groups in such a way that bigger companies will not find it worthwhile to retaliate
e-Detailing The use of computer technology to enhance or bypass the pharmaceutical representative's traditional sales call to healthcare providers
Market value added (MVA) The difference between the equity market valuation of a company and the capital contributed by investors
Behavioural targeting A digital marketing term used to refer to the technology employed to target users with advertisements based on previous browsing behaviour and patterns
Customer focus The organisational orientation that focuses on satisfying the needs of potential and actual customers. Customer focus is considered a key element of business success
Data processing The obtaining, recording and holding of information that can then be retrieved, used, disseminated or erased. The term tends to be used in connection with computer systems
Cost per thousand (CPM) This is a standard measurement used for determining the cost effectiveness for a specific medium or channel. Calculated by dividing the rate or specific advertisement cost by the circulation or number of readers/ users
Competitors Companies that sell products or services in the same marketplace as one another
Placebo effect The phenomenon where a person receiving an inactive substance undergoes a physical or emotional change that is not the result of any special property in the substance. These changes can often reflect the expecations of both the participant and the person administering the inactive substance, with a belief that the treatment is effective having a beneficial effect.
Double-blind trial A clinical trial design in which neither the participating individuals nor the study staff know which participants are receiving the experimental drug and which are receiving either placebo or another therapy. Double-blind trials are thought to produce objective results, since the expectations of the doctor and the participant about the experimental drug do not affect the outcome.