Marketing Terms-

Consumer buyers: Consumer buyers are those who purchase items for their personal consumption
Consumer durables: Consumer durables have low volume but high unit value. Consumer durables are often further divided into White goods (e.g. fridge freezers; cookers; dishwashers; microwaves) and Brown goods (e.g. DVD players; games consoles; personal computers)
Consumer markets: Consumer markets are the markets for products and services bought by individuals for their own or family use
Consumer Price Index: It is a price index covering the prices of consumer goods.
Consumer Price Index: It is a price index that features the rates of consumer goods
Contingency Fund: It is more or less similar to that extra little bit of savings that all mothers set aside in case of an emergency. Likewise, the government has created this fund to help it tide over difficult situations. The fund is at the disposal of the President to meet unforeseen and urgent expenditure, pending approval from Parliament. The amount that is withdrawn from the fund is recouped.
Continuous market research: Continuous research involves interviewing the same sample of people, repeatedly
Core product: The set of problem-solving or need-meeting benefits that customers are buying when they purchase a product. Customers are rarely prepared to pay a premium for these elements of a product.
Countervailing Duties (CVD): This is levied on imports that may lead to price rise in the domestic market. It is imposed with the intention of discouraging unfair trading practices by other countries.
CRR means Cash Reserve Ratio. Banks in India are required to hold a certain proportion of their deposits in the form of cash. However, actually Banks don't hold these as cash with themselves, but deposit such case with Reserve Bank of India (RBI)/ currency chests, which is considered as equivalent to holding cash with RBI. This minimum ratio (that is the part of the total deposits to be held as cash) is stipulated by the RBI and is known as the CRR or Cash Reserve Ratio. Thus, when a bank's deposits increase by Rs 100, and if the cash reserve ratio is 6%, the banks will have to hold additional Rs 6 with RBI and Bank will be able to use only Rs 94 for investments and lending/ credit purpose. Therefore, higher the ratio (i.e. CRR), the lower is the amount that banks will be able to use for lending and investment. This power of RBI to reduce the lendable amount by increasing the CRR, makes it an instrument in the hands of a central bank through which it can control the amount that banks lend. Thus, it is a tool used by RBI to control liquidity in the banking system.
Current Account Deficit: This deficit shows the difference between the nation's exports and imports.
Current Account Surplus: Excess of receipts over expenditure on current account in a country's balance of payments.
Custom Duties: These duties are levied on goods whenever they are either brought into the country or exported from the country. The importer or the exporter pays custom duties.
Customer demand: Consumer demand is a want for a specific product supported by an ability and willingness to pay for it.
Customer loyalty: Feelings or attitudes that incline a customer either to return to a company, shop or outlet to purchase there again, or else to re-purchase a particular product, service or brand.
Demand For Grants: It is a statement of estimate of expenditure from the Consolidated Fund. This requires approval of the Lok Sabha.
Direct marketing: The planned recording, analysis and tracking of customer behaviour to develop a relational marketing strategies
Direct Taxes: Taxes paid directly by the person or organisation on whom they are levied. Income Tax and Corporate Tax fall under this tax category
Disinvestment: It is the dilution of government's stake in Public Sector Undertakings.
Early adopters: People who choose new products carefully and are often consulted by people from the remaining adopter categories
ECB: External Commercial Borrowing
E-commerce: The use of technologies such as the Internet, electronic data exchange and industry extranets to streamline business transactions
Endorsement: The promotion of some kind of product recommendation or affirmation, usually from a celebrity, implying to the potential customer that a product is good
ESPO: Employee Stock Option Loan
Excise duties: These duties refer to duties imposed on goods manufactured within the country.
Finance Bill: It is the government's proposals for imposition of new taxes, modification of the existing tax structure or continuance of the existing tax structure beyond the period approved by Parliament.
Fiscal Deficit: It is the difference between the Revenue Receipts and Total Expenditure.
Fiscal Policy: Fiscal policy is a change in government expenditure and/or taxation designed to influence economic activity. These changes are designed to control the level of aggregate demand in the economy. Governments usually bring about changes in taxation, volume of spending, and size of the budget deficit or surplus to affect public expenditure.
FRBM Act: Enacted in 2003, the Fiscal Responsibility and Budget Management Act required the elimination of revenue deficit by 2008-09. This means that from 2008-09, the government was to meet all its revenue expenditure from its revenue receipts. Any borrowing was to be done to meet capital expenditure i.e. repayment of loans, lending and fresh investment. The Act also mandates a 3% limit on the fiscal deficit after 2008-09; one that allows the government to build capacities in the economy without compromising on fiscal stability.
Fringe Benefit Tax (FBT): It is the tax levied on the ‘fringe benefit' / perks given by a company to its employees. Companies could no longer get away with marking such expenses as ‘ordinary business expenses' and escape tax when they actually gave out club memberships to their employees. Employers had to now pay a tax (FBT) on a percentage of the expense incurred on such perquisites. This tax was introduced in the 2005-06 budget.
Gender segmentation: The segmentation of markets based on the sex of the customer. The cosmetic industry is a good example of widespread use of gender segmentation, Geographic segmentation, Geographic segmentation divides markets into different geographical units
Gross Domestic Product: Total market value of the goods and services manufactured within the country in a financial year. GROSS NATIONAL PRODUCT Total market value of the finished goods and services manufactured within the country in a given financial year, plus income earned by the local residents from investments made abroad, minus the income earned by foreigners in the domestic market.
Growth stage: The stage at which a product's sales rise rapidly and profits reach a
GST: A GST (Goods and Services Tax) contains the entire element of tax borne by a good / service including a Central and a state-level tax.
Income Tax: This is the tax levied on individual income from various sources like salaries, investments, interest, etc.
Indirect Taxes: Taxes imposed on goods manufactured, imported or exported such as Excise Duties and Custom Duties.
Inflation: A progressive increase in prices of goods and services. It is the percentage rate of change in the price level. In inflation, everything tends to appear more valuable except money.
Internal marketing: The process of eliciting support for a company and its activities among its own employees, in order to encourage them to promote its goals. This process can happen at a number of levels, from increasing awareness of individual products or marketing campaigns, to explaining overall business strategy.
Laggards: The group of consumers who are typically last to buy a new product
Marginal Standing Facility Rate:  Under this scheme, Banks will be able to borrow upto 1% of their respective Net Demand and Time Liabilities".  The rate of interest on the amount accessed from this facility will be 100 basis points (i.e. 1%)  above the repo rate. This scheme is likely to reduce volatility in the overnight rates and improve monetary transmission.
Market segmentation: Segmentation involves subdividing markets, channels or customers into groups with different needs, to deliver tailored propositions which meet these needs as precisely as possible.
Market targeting: Market targeting is the process of evaluating each market segment and selecting the most attractive segments to enter with a particular product or product line.
Marketing: The all-embracing function that links the business with customer needs and wants in order to get the right product to the right place at the right time"
Minimum Alternate Tax (MAT): It's known that a company pays tax on profits as per the Income-Tax Act. If a company's tax liability is less than 10% of its profits, it has to pay a minimum alternate tax of 10% of the book profits.
MODVAT: It stands for Modified Value Added Tax and is a way of giving some relief to the final manufacturers of goods on Excise Duties borne by their suppliers.
Monetized Deficit: Measures the level of support the RBI provides to the Centre's borrowing program.
National Debt: Total outstanding borrowings of the central government exchequer.
Non-Plan Expenditure: Expenses that don't form a part of the government's five year plan. These expenses consist of Revenue and Capital Expenditure on interest payments, Defense Expenditure, subsidies, postal deficit, police, pensions, economic services, loans to public sector enterprises and loans as well as grants to State governments, Union territories and foreign governments.
Non-Tax Revenue: Any loan given to state governments, public institutions, PSUs come with a price (interests) and forms the most important receipts under this head apart from dividends and profits received from PSUs. The government also earns from the various services including public services it provides.
Peak Rate: it is the highest rate of Custom Duty applicable on an item.
Per capita income: The national income of a country, or region, divided by its population.
Performance Budget: it is a compilation of programs and activities of different ministries and departments.
Plan Expenditure: Consists of both Revenue Expenditure and Capital Expenditure of the Center on the Central Plan, Central Assistance to States and Union Territories.
Plan Outlay: Plan Outlay is the amount for expenditure on projects, schemes and programmes announced in the Plan. The money for the Plan Outlay is raised through budgetary support and internal and extra-budgetary resources. The budgetary support is also shown as plan expenditure in government accounts.
Primary Deficit: Fiscal Deficit minus Interest payments
Product life cycle: The course of a product's sales and profitability over its lifetime. The model describes five stages, each of which represents a different opportunity for the marketer:  - Development, Introduction, Growth, Maturity, Decline.
Product: A product is defined as anything that is capable of satisfying customer
Progressive Tax Structure: a tax structure in which the marginal tax rate increases as the level of income increases.
Promotion: One of the four "P's" of the marketing mix. Promotion is all about
Proportional Tax: a tax taking the same percentage of income regardless of the level of income.
Public Account: it is an account where money received through transactions not relating to consolidated fund is kept.
Public Debt: The difference between borrowings and repayments during the year is the net accretion to the public debt. Public debt can be split into two heads, internal debt (money borrowed within the country) and external debt (funds borrowed from non-Indian sources).
Regressive Tax: a tax in which the poor pay a larger percentage of income than the rich. It is the opposite of Progressive Tax.
Repo (Repurchase) rate: It is the rate at which the RBI lends shot-term money to the banks against securities. When the repo rate increases borrowing from RBI becomes more expensive.  Therefore, we can say that in case,  RBI wants to make it more expensive for the banks to borrow money, it increases the repo rate; similarly, if it wants to make it cheaper for banks to borrow money, it reduces the repo rate.
Revenue budget: Consists of Revenue Receipts and Revenue Expenditure of the government.
Revenue Deficit: It is the difference between Revenue Expenditure and Revenue Receipts.
Revenue Surplus: Opposite of Revenue Deficit, it is the excess of Revenue Receipts over Revenue Expenditure.
Reverse Repo rate is the rate at which banks park their short-term excess liquidity with the RBI.  The banks use this tool when they feel that they are stuck with excess funds and are not able to invest anywhere for reasonable returns. An increase in the reverse repo rate means that the RBI is ready to borrow money from the banks at a higher rate of interest. As a result, banks would prefer to keep more and more surplus funds with RBI.
Revised Estimates: usually given in the following budget, it is the difference between the Budget Estimates and the actual figures.
SEBI: Securities and Exchange Board of India
Securities Transaction Tax (STT): STT is a small tax you need to pay on the total amount you pay or receive in a share deal. In the 2004-05 Budget, the government did away with the tax on profits earned on the sale of shares held for over a year (known as long-term capital gains tax) and replaced it with STT.
SLR: Statutory Liquidity Ratio. Every bank is required to maintain at the close of business every day, a minimum proportion of their Net Demand and Time Liabilities as liquid assets in the form of cash, gold and un-encumbered approved securities. The ratio of liquid assets to demand and time liabilities is known as Statutory Liquidity Ratio (SLR).  RBI is empowered to increase this ratio up to 40%.  An increase in SLR  also restrict the bank's leverage position to pump more money into the economy
Special Economic Zone Scheme: A new export promotion scheme entitled ‘Special Economic Zone' (SEZ) was introduced in the Export and Import (EXIM) Policy which came into effect from 1.4.2000. The Scheme envisages a simple and transparent policy and procedure for promotion of exports with minimum paper work. The most important feature of the Scheme is that the SEZ area is considered essentially as a foreign territory for the purposes of trade operations, duties & tariffs. Therefore, goods supplied to SEZ from the Domestic Tariff Area (DTA) are treated as deemed exports and goods brought from SEZ to DTA are treated as imported goods.
Subsidies: Financial aid provided by the Center to individuals or a group of individuals to be competitive. The grant of subsidies is also aimed at improving their skills of those who benefit from the subsidies.
Subvention: This is how a government bears the loss that financial institutions incur when asked to give farmer loans below the market rates.
Surcharge: This is an extra bit of 10% on the tax liability that individuals pay for earning more than Rs. 10 lakh. Companies with revenue of up to Rs. 1 crore are spared.
TRAI: Telecom Regulatory Authority of India
Treasury Bill (T-BILLS): These are bonds (debt securities) with maturity of less than a year. These are issued to meet short-term mismatches in receipts and expenditure.
VAT: This tax is based on the difference between the value of output and the value of inputs used to produce it. The aim here is to tax a firm only for the value it adds to the manufacturing inputs, and not the entire input cost. Thus, VAT helps avoid a cascading of taxes as a product passes through different stages of production/value addition.
Vote On Account: It is a sort of interim budget where the government presents accounts required to keep the process on until the next government takes over.
Ways And Means Advance (WMA): RBI is the banker for both Central and State governments. Hence, it provides a breather to manage mismatches in their receipts and payments in the form of ways and means advances.
What is the Union Budget?: The Union Budget is the annual report of India as a country. It contains the government of India's revenue and expenditure for the end of a particular fiscal year, which runs from April 1 to March 31. The Union Budget is the most extensive account of the government's finances, in which revenues from all sources and expenses of all activities undertaken are aggregated. It comprises the revenue budget and the capital budget. It also contains estimates for the next fiscal year.
Wholesale Price Index: Prices of goods that are dealt with wholesale (mostly inputs to production, rather than finished commodities).