Don't Sweat The Interview

Find tips to help you before, during and after the interview. Remember: the more you prepare up front, the more relaxed you will feel during the interview; the more relaxed you feel, the better you will perform; the better you perform, the more likely you will be to get the job! Makes sense, yes? So, what's the big deal? OK, you're revving up for the big interview. What important details do you need to know? First of all, you need to understand what the interview is all about. Your winning resume, cover letter and good use of your networking contacts have won you entree into Potential Employer's office. The interviewer will already have reviewed your resume, which basically provides the hard facts of your employment history and skills. The interview is a subtler, more subjective aspect of the job-hunting process. Frequently, an interviewer (sometimes without even realizing it) will form an opinion of you based on the nuances of your interaction. You're trying to make a good impression here. You need to portray sincerely, politely and enthusiastically that you are knowledgeable about the organization and have something to offer it. Your resume may well have shown examples of your skills as a team player, but now you need to convince them that you fit their team. In order to make the best impression you can, you need to be prepared, know what you can expect, and know how to handle it if things don't go quite as you had planned. Preparation

Know how to keep yourself calm. The best way to do this is to be prepared! Research the company. Research the interviewer, if possible. Know what kind of interview to expecta screening interview, a stress interview.... Have you done any informational interviews about this industry? Know why you want the job. Identify your wants and your needsand know the difference! Be able to express, specifically, the marketable skills you have to offer the organization. Be prepared for the standard interview questions and know your answers to them try taking the virtual interview . Be prepared to answer that killer question. Know how to deal with illegal questions tactfully during the interview. Prepare questions you wish to askonly ask questions you can't find answers to yourself. Line up your references in advance and verify that they will be good ones. Find out the standard dress for the organization. Dress on the conservative side. Arrive early.

Presentation

Bring extra resumes, notepad, pen. Be sure you know how to pronounce your interviewer's name correctly. Be polite to everyone you meet there. They all count. Be personable as well as professional. Do not chew gum, smoke, swear or use slang. Be aware of body language, vibes, reactionsuse your instincts to keep things on course. Assume all questions are asked for a good reason and answer accordingly. Do not assume that your interviewer knows how to elicit the information he/she is looking for. Feel free to ask for clarification before answering a question. Take some time to formulate your answers before you speak. Answer all questions honestly, but in the best, most positive light. Do not bad mouth old employers. Make some notes about the interview right after you leave. Send a thank you letter ASAP to each interviewer. Be sure to know how to spell all names and know correct titles

Perseverance

Phone Strategies for Getting an Interview

Once you have developed your phone script, you need to know how to use it effectively. Here are more tried and true tips: Get to the Hiring Authority You need to get directly to the person who would supervise you. Unless you want to work in the Personnel Department, you wouldn't normally ask to talk to someone who does. Depending on the type and size of the organization you're calling, you should have a pretty good idea of the title of the person who would supervise you. In a small business you might ask to speak to the "person in charge." In a larger one, you would ask for the name of the person who is in charge of a particular department. Get the Name of a Person If you don't have the name of the person you need to speak to, ask for it. For example, ask for the name of the person in charge of the accounting department if that is where you want to work. Usually, you will be given the supervisor's name and your call will be transferred to him or her immediately. When you do get a name, get the correct spelling and write it down right away. Then you can use that person's name in your conversation. Get Past the Receptionist In some cases, receptionists and secretaries will try to screen out your call. If they find out you are looking for a job, they may transfer you to the Personnel Department or ask you to send an application or resume. Here are some things you can do to keep from getting screened out:

Call Back: Call back a day later and say you are getting ready to send some correspondence to the person who manages such and such. You want to use the correct name and title and request that they give you this information. This is true since you will be sending them something soon. And this approach usually gets you what you need. Say "thank you" and call back in a day or so. Then ask for the supervisor or manager by name. Call When the Secretary Is Out: You are likely to get right through if you call when that receptionist is out to lunch. Other good times are just before and after normal work hours. Less experienced staff members are likely to answer the phones and put you right through. The boss also might be in early or working late.

When Referred by Someone Else It is always best to be referred by someone else. If this is the case, immediately give the name of the person who suggested you call. For example, say: "Hello, Ms. Beetle. Joan Bugsby, suggested I give you a call." If the receptionist asks why you are calling, say: "A friend of Ms. Beetle's suggested I give her a call about a personal matter." When a friend of the employer recommends that you call, you usually get right through. It's that simple. When Calling Someone You Know Sometimes using your telephone script will not make sense. For example, if you are calling someone you know, you would normally begin with some friendly conversation before getting to the purpose of your call. Then, you could use your phone script by saying something like this: "The reason I called is to let you know I am looking for a job, and I thought you might be able to help. Let me tell you a few things about myself. I am looking for a position as. . . " (Continue with the rest of your phone script here). There are many other situations where you will need to adapt your basic script. Use your own judgment on this. With practice, it becomes easier! Your Goal Is to Get an Interview The primary goal of a phone contact is to get an interview. To succeed you must be ready to get past the first and even the second rejection. Ask Three Times for an Interview You must practice asking three times for the interview! Here is an example: You: When may I come in for an interview? Employer: I don't have any positions open now... You: That's OK, I'd still like to come in to talk to you about the possibility of future openings. Employer: I really don't plan on hiring within the next six months or so. You: Then I'd like to come in and learn more about what you do. I'm sure you know a lot about the industry, and I am looking for ideas on getting into it and moving up. Although this approach does not always work, asking the third time works more often than most people would believe! It is important to learn how to do this, since overcoming initial rejections is a very important part of getting to "Yes."

Arrange a Time If the person agrees to an interview, arrange a specific date and time. If you are not sure of the correct name or address, call back later and ask the receptionist. Sometimes an Interview Does Not Make Sense Sometimes you will decide not to ask for an interview. The person may not seem helpful or you may have caught him or her at a busy time. If so, you can take another approach: Get a Referral: Ask for names of other people who might be able to help you. Find out how to contact them. Then add these new contacts to your job search network! Ask to Call Back: If your contact is busy when you can, ask if you can call back. Get a specific time and day to do this, and add the call to your to-do list for that day. If you do call back, the employer will be impressed. And she may give you an interview for just that reason. Ask to Call Back From Time to Time: Ask if you can keep in touch. Maybe the employer will hear of an opening or have some other information for you. Many job seekers get their best leads from a person they have checked back with several times. Follow Up! It is important to follow up with each person you contact in your search for a job. This includes following up with people in your network, including those you phone. This effort can make a big difference in their remembering and helping you. Here is the best way to follow up: Send thank-you notes! It is good manners to send a thank-you note to the person who helped you. Send a thank-you note right after the phone call. If you arranged for an interview, send a note saying you look forward to your meeting. If the contact gave you a referral to someone else, send another note telling her how things turned out. Or send a thank-you note telling her you followed up on her suggestion.

Questions To Ask the Interviewer

Even if you don't ask any questions during an interview, many employers will ask you if you have any. How you respond will affect their evaluation of you. So be prepared to ask insightful questions about the organization. Good topics to touch on include: the competitive environment in which the organization operates executive management styles what obstacles the organization anticipates in meeting its goals how the organization's goals have changed over the past three to five years. Generally, it is most unwise to ask about pay or benefits or other similar areas. The reason is that it tends to make you seem more interested in what the organization can do for you. It is also not a good idea to simply have no questions at all. Doing so makes you appear passive rather than curious and interested.

Quick Tip From "America Online's Career Center," hosted by Jim Gonyea. Q: I've been on several interviews lately, and invariably the interviewer invites me to ask questions about the position or the company. What kinds of questions would be most appropriate to show genuine interest? I know what not to ask, e.g. "How much am I gonna make at this place?" Still, I think it is possible that I have done less than my best in this regard. A: I would ask the following questions: 1. What are the main objectives and responsibilities of the position? 2. How does the company expect these objectives to be met? 3. What obstacles are commonly encountered in reaching these objectives? 4. What is the desired time frame for reaching the objectives? 5. What resources are available from the company and what must be found elsewhere to reach the objectives? Tough Interview Questions

Experience and Management Questions

1. You may be overqualified for the position we have to offer. Strong companies need strong people. A growing, energetic company is rarely unable to use its employees' talents. Emphasize your interest in a long-term association, pointing out that the employer will get a faster return on investment because you have more experience than required. 2. What is your management style? (If you've never thought about this, it's high time you did.) "Open-door management" is best ... And you get the job done on time or inform your management. 3. Are you a good manager? Give an example. Why do you feel you have top managerial potential? Keep your answer achievement- and task-oriented; emphasize management skills -planning, organizing, interpersonal, etc. 4. What do you look for when you hire people? Skills, initiative, adaptability. 5. Did you ever fire anyone? If so, what were the reasons and how did you handle it? Give a brief example of a time when you faced this, and stress that it worked out well. 6. What do you see as the most difficult task in being a manager? Getting things planned and done on time within the budget. 7. What do your subordinates think of you? Be honest and positive...they can check your responses easily. 8. What is your biggest weakness as a manager? Be honest and end on a positive note, e.g. "I don't enjoy reprimanding people, so I try to begin with something positive first."

General Questions
1. Tell me about you! Keep your answer to one or two minutes; don't ramble. Use your resume summary as a base to start. 2. What do you know about our company? Do your homework before the interview! Spend some time online or at the library researching the company. Find out as much as you can, including products, size, income, reputation, image, management talent, people, skills, history and philosophy. Project an informed interest; let the interviewer tell you about the company. 3. Why do you want to work for us? Don't talk about what you want; first, talk about their needs: You would like to be part of a specific company project; you would like to solve a company problem; you can make a definite contribution to specific company goals. 4. What would you do for us? What can you do for us that someone else can't? Relate past experiences that show you've had success in solving previous employer problem(s) that may be similar to those of the prospective employer. 5. What about the job offered do you find the most attractive? Least attractive? List three or more attractive factors and only one minor unattractive factor. 6. Why should we hire you? Because of your knowledge, experience, abilities and skills. 7. What do you look for in a job? An opportunity to use your skills, to perform and be recognized. 8. Please give me your definition of a .... (the position for which you are being interviewed). Keep it brief -- give an action- and results-oriented definition. 9. How long would it take you to make a meaningful contribution to our firm? Not long at all -- you expect only a brief period of adjustment to the learning curve. 10. How long would you stay with us? As long as we both feel I'm contributing, achieving, growing, etc. If You Are Leaving a Job 1. Why are you leaving your present job? Refine your answer based on your comfort level and honesty. Give a "group" answer if possible, e.g. our department was consolidated or eliminated. 2. How do you feel about leaving all of your benefits? Concerned but not panicked. 3. Describe what you feel to be an ideal working environment. One in which people are treated as fairly as possible. 4. How would you evaluate your present firm? It's an excellent company that afforded me many fine experiences.

Job Search Questions

1. Why haven't you found a new position before now? Finding a job is easy; finding the right job is more difficult. Stress that you are being selective, and are looking for the right "fit." 2.Had you thought of leaving your present position before? If so, what do you think held you there? Explain that your job is no longer challenging and that you feel your talents are best used elsewhere. 3. What do you think of your boss? Be as positive as you can, even if you don't really believe it. 4.Would you describe a situation in which your work was criticized? Be as positive as you can and emphasize what you learned from the situation. 5. What other types of jobs or companies are you considering? Keep your answer related to this company's field, and don't give out specific company names. .

Personality Questions
1. Do you generally speak to people before they speak to you? It depends on the circumstances. 2.What was the last book you read? Movie you saw? Sporting event you attended? Talk about books, sports or films to show that you have balance in your life. 3. What is the toughest part of a job for you? Be honest. Remember, not everyone can do everything. 4. Are you creative? Yes. Give examples that relate to your current job. 5. How would you describe your own personality? Balanced is a good word to use, but remember the type of company you are interviewing at. Some companies may want someone who is aggressive and a gogetter. 6. Are you a leader? Absolutely! Cite specific examples using your current job as a reference point. 7. What are your future goals? Avoid, "I would like the job you advertised." Instead, give long-range goals. 8. What are your strengths? Present at least three and relate them to the company and job you are interviewing for.

9. What are your weaknesses? Don't say that you dont have any. Try not to cite personal characteristics as weaknesses, but be ready to have one if the interviewer presses. Turn a negative into a positive answer: "I am sometimes intent on completing an assignment and get too deeply involved when we are late

Quantifying Your Experience and Accomplishment

1. How have you helped increase sales? Profits? Explain in some detail, citing figures and specific examples. 2. Have you helped reduce costs? How? Describe in some detail with specifics. 3. How much money did you account for? Give examples as to your responsibilities. Explain how the budget was determined, and your role in overseeing your department's portion. 4. How many people did you supervise on your last job? Explain the structure of your department and your role as manager. 5. Do you like working with figures more than words? Be honest but positive. 6. In your current or last position, what features did you like the most? Least? Be honest but put a positive spin on your least favorite duties. 7. In your current or last position, what are or were your five most significant accomplishments? Refer to the key accomplishments already identified on your resume

Salary Questions
1. How much are you looking for? Answer with a question, e.g., "What is the salary range for similar jobs in your company?" If the interviewer doesn't answer, then give a range of what you understand you are worth in the marketplace. Check out Monster.com's Salary Center. 2. How much do you expect, if we offer this position to you? Be careful; the market value of the job may be the key answer, e.g., "My understanding is that a job like the one you're describing may be in the range of $______." 3.What kind of salary are you worth? Have a specific figure in minddon't be hesitant.

Your Career Goals

1. If you could start your career again, what would you do differently? Nothing ... I am happy today, so I don't want to change my past. 2. What career options do you have at the moment? "I see three areas of interest..." Relate those to the position and industry. 3. How would you describe the essence of success? According to your definition of success, how successful have you been so far? Think carefully about your answer and relate it to your career accomplishments

Your Work Habits and Style 1. If I spoke with your previous boss, what would he say are your greatest strengths and weaknesses? Emphasize your skills, and don't be overly negative about your weaknesses. It's always safer to identify a lack of a skill as an area for improvement rather than a shortcoming. 2. Can you work under pressures, deadlines, etc.? Yes, it's a way of life in business. Be sure to cite examples of your success. 3. How have you changed the nature of your job? Explain how you have improved the efficiency, productivity, and the like. 4. Do you prefer staff or line work? Why? It depends on the job and its challenges. 5. In your present position, what problems have you identified that had previously been overlooked? Keep it brief and don't brag. 6. Do you feel you might be better off in a different size company? Different type company? It depends on the job -- elaborate slightly. 7. How do you resolve conflict on a project team? Explain that communication is important, and that you would first you discuss the issues privately. 8. What was the most difficult decision you ever had to make? Try to relate your response to the prospective employment situation.

Business Buzzwords: Benefits & Compensation

copayment The portion of a medical expense, often a percentage, that must be paid by the patient even after paying a deductible. Example: A patient's medical expense is $1200 and she has a $200 deductible and a copayment of 20%. After paying the $200 deductible, $1000 remains to be paid. Having a 20% copayment, the patient will pay $200 (20%) and the insurance will pay $800 (80%). covered expense The medical services and products for which an insurance company agrees to pay. Some services typically not covered are cosmetic surgery or experimental drugs; these must be paid by the patient. deductible The amount of a medical expense (usually a fixed amount, say $200) that a patient must pay before the insurer will consider paying any medical expenses. employee stock ownership plan (ESOP) A program in which employees receive shares of stock in the company where they work. This transfer of stock to the employees is a form of compensation or reward that is often used by management as a source of motivation. 401(k) plan An retirement plan that allows an employee to set aside a certain percentage of his/her income in a retirement account. The money in the account is usually invested, and often the employer will contribute to this account on behalf of the employee. The money placed in this account is not taxed until it is withdrawn. health maintenance organization (HMO) A form of managed care that emphasizes preventative and early primary care, often with little or no copayments or deductibles. The patient is usually restricted to seeing a provider who is a part of the HMO's network. This provider is the primary care physician who must approve any specialty care. hygiene factors The workplace conditions (compensation, working conditions, management policies, etc.) required to keep employees satisfied. incentive plans Incentive plans include any form of reward used to motivate employees, often based on increasing profits, sales, productivity, or maintaining market position.

Keogh plan A retirement account for the self-employed or for the employees of unincorporated businesses. Contributions, as with a 401(k) plan, are not taxed until they are withdrawn. managed care A form of medical care designed to control costs by having the medical provider accept discounts, share risk or use case managers. PPO A preferred provider organization (PPO) is designed to reduce costs by having patients see providers who have agreed to offer service at reduced costs. Patients are allowed to see other non-PPO providers, but they are subject to higher deductibles and copayments. pension plan An agreement by an employer to pay for retirement benefits for employees. This money is usually placed in a pension fund. sexual harassment Any physical or psychological abuse based solely on sex that threatens the victim's employment status or interferes with his/her work performance. universal coverage A system that provides access to health care for all citizens within a country.

Business Buzzwords: Finance

American Stock Exchange (AMEX) The second largest stock exchange in the United States (after the NYSE). AMEX has a larger listing of smaller businesses as its requirements for listing are less rigid than those of the NYSE. annuity A contract that guarantees periodic payments at some future point in time, often after retirement. balance of trade The net difference, in currency, between a country's imports and exports over a certain period of time. bearer bond

A security that does not have a registered owner; possession determines ownership. blanket purchase order A contract that allows for the purchase of items from a supplier over a fixed period of time; it is used to reduce the number of purchase orders. blue chip A common stock that has consistently paid dividends over a long period of time. bond A debt obligation of an organization to pay a specific amount at a specific time, often used to raise capital. carrying costs The costs of holding inventories to a company. Chapter 7 / Chapter 11 Two legal methods for a company to file for bankruptcy. Under Chapter 11, the company is allowed to continue in operation while it attempts financial restructuring and payment of debts. Under Chapter 7, the company is shut down and its assets liquidated in order to pay off its debts. common stock Documents that represent ownership in a corporation. Owners of common stock, shareholders, usually are involved in the election of corporation officials. consolidation The inclusion of subsidiaries in the financial statements of the parent company. disclosure The part of a company's financial statement that includes an explanation of the its financial position and operating results. diversification A strategy of spreading risk between several markets, industries, or product lines. Investors diversify, and thus spread risk, by choosing several different types of investments (for example, a mix of stocks, bonds, and cash). dividend The transfer of a company's earnings to stockholders in the form of cash, property, or additional stock.

Dow Jones Industrial Average (DJIA) The average value of a representative group of about 30 blue chip stocks used to judge entire market movement and value. Dun & Bradstreet reports A subscription service that provides information on the credit worthiness of companies. finance lease A contract between lessor and lessee wherein the lessee agrees to make payments totaling the purchase price and finance charges for an asset for the life of the asset. fixed costs Expenses, such as rent and utilities, which do not change even if there is an increase or decrease in sales. going private The change in which a company goes from public ownership to private ownership through the repurchase of its shares from the public. going public When a company sells to the public a portion of its common shares to raise capital. gross domestic product (GDP) A measure of the total output produced and income earned within the United States. This measure includes exports and subtracts the value of imports. indirect cost An expense not directly attributable to a particular unit of production, such as marketing expenses. long-term asset An asset expected to provide economic benefits over a period of several years. market risk The group of factors that affect the price of stocks, such as inflation and interest rates. money markets Markets for the sale of short-term debts, such as certificates of deposit and Treasury bills.

National Association of Securities Dealers Automated Quotation System (NASDAQ) A primary market for over-the-counter trading of stocks. Stocks quoted on NASDAQ are simultaneously listed on the NYSE as well as other regional stock exchanges. New York Stock Exchange (NYSE) The largest stock exchange in the United States that lists primarily larger companies. opportunity costs The amount lost by choosing one activity over its next best alternative when both options cannot be chosen. For example, the opportunity cost of leaving a job to go to school is the salary of the job because it will no longer be earned. overhead The costs of running a company that are not directly attributable to the products or services produced, such as utilities and maintenance. par value The face value of a security. preferred stock A type of stock that gives its owner preference over common stockholders in the distribution of earnings and rights to the company's assets, often paying dividends. price controls A power of the government to set the price of a product or service above or below its market price. privately held company A company whose shares of ownership are not traded publicly Securities & Exchange Commission (SEC) The governmental agency that regulates financial reporting, accounting and the trading and auditing of public companies. simple interest The interest paid on the principal of a loan when no compounding of interest occurs spin-offs Turning a portion of a company into a separate company that functions independently

spreadsheet A table with rows and columns of numbers often used with financial statements stock index An indicator used to report and measure changes in value of a representative group of stocks, such as the Dow Jones Industrial Average. 10-K An annual filing made by a company to the Securities and Exchange Commission detailing its financial information. trade deficit The debt incurred by importing products with a value greater than the value of the products exported (see balance of trade). transfer price The price one part of a company charges another part within the same company for a product or service that is often an input for a final product underwriting The guarantee of a bank to a company issuing securities that it will purchase any remaining securities at a fixed price if all are not sold. write-down The reduction in book value of an asset when there is an indication that its value has decreased.

Business Buzzwords: Management

barriers to entry Any factor that prevents the entry of a competitor into an industry or market. Examples include high startup costs and heavy competition. benchmarking When a company compares its business practices with the best practices of other companies as a means of improving its own practices. Chapter 7/Chapter 11 The two legal methods for a company to file for bankruptcy. Under Chapter 11, the company is allowed to continue in operation while it attempts financial restructuring and payment of debts. Under Chapter 7, the company is shut down and its assets liquidated in order to pay off its debts.

competitive advantage The aspects of a company that make it more competitive than other companies in the same market or industry; examples include high quality, customer service, and brand equity. corporate culture The general feeling of a company reflected in the particular values, norms and behaviors that are expected of employees by management; the "way things are done" in the company. decentralization A management strategy that involves the diffusion of power throughout different levels of a company. diversification A strategy of spreading risk between several markets, industries, or product lines. Investors diversify, and thus spread risk, by choosing several different types of investments. employee stock ownership plan (ESOP) A program in which employees receive shares of stock in the company where they work. This transfer of stock to the employees is a form of compensation or reward that is often used by management as a source of motivation. empowerment A strategy intended to increase employees' motivation by increasing their involvement in their work. idle time The time spent waiting to continue working on a process because of some delay or bottleneck. incentive plans Incentive plans include any form of reward used to motivate employees, often based on increasing profits, sales, productivity or maintaining market position. intellectual property Ideas or works with legal rights to ownership held by their inventors, creators or owners such as patents, copyrights and artistic works (films, books, etc.). job depth The amount of influence individuals have over their jobs and workplaces.

job satisfaction The combined attitudes and beliefs (positive or negative) that one holds about the various aspects of a job. joint venture A legal agreement between two or more companies to work together in cooperation to achieve some particular goal. mission statement A short statement by a company stating its values, purposes, and strategies. quality circle A company-sponsored activity in which several employees from different areas of the company work together to discuss and solve problems related to the quality of a product or service. strategic planning The formation of goals and the development of strategies to achieve these goals. synergy The idea that the combination of two efforts will create a benefit that is greater than the sum of the individual efforts. For example, the value of the production of two companies working together on a project is greater than if the two companies had worked independently on the same product

Business Buzzwords: Marketing

available market The group of consumers who have an interest in a product or service, access to it, and sufficient income to purchase it. bundling The grouping of several products and/or services into one package. Bundling benefits buyers by condensing several purchases into one. Companies benefit by reducing the ability of consumers to compare individual product prices with those of competing companies. cherry picking Purchasing several products individually that are usually sold as a bundle by one company from a variety of companies. cold call

Frequently used in telemarketing; an unannounced sales pitch or sales call to a potential customer. cost per thousand (CPM) The cost to an advertiser of reaching one thousand people with an advertisement. Marketing departments can use CPM to compare two sources of advertising within the same medium. differentiated marketing A marketing strategy used by companies to increase sales volume. The company will segment a market and offer specially tailored goods/services to each separate and distinct element. direct marketing Marketing strategy intended to make sales, rather than create preferences or namebrand recognition, by interacting directly with a target market and giving its members a chance to respond. An example would be a telemarketer calling a person from a target market and giving her an opportunity to purchase a product. discretionary income The income remaining after taxes and after paying for the essentials (housing, food, etc.). distribution channels Paths by which goods move from the manufacturer to the ultimate consumer. (Also known as marketing channels) events marketing The associating of advertising for a product, service or company with an event of interest to a target market. Companies will typically sponsor these events in exchange for advertising during the event. focus group interview A group of several individuals who are involved in a discussion on a particular topic lead by a facilitator. The discussion can be effective at further defining the question at issue as well as revealing new questions. freelance A type of work that is completed on a job-by-job basis by an independent contractor. global marketing

Marketing activity with a goal of achieving production efficiencies by producing standardized products for all consumers without a particular emphasis on local or regional differentiation. latent market A group of people with a similar need or desire for a product that does not yet exist. list broker One who arranges for the sale or rental of specific lists of people within a target market. market share Total number of units sold by a particular company expressed as a percentage of the total number of units sold by the entire market. An effective means of benchmarking competitive progress. media buyer A person who plans for the purchase of space and time for advertising in several mediums for various companies. niche marketing The specializing by a company to serve a small, particular segment of a market that is usually of little interest to major competitors. penetrated market The customers within the potential market who have already purchased the market's product. potential market The group of consumers who have access to and sufficient income to purchase a product or service. press release A prepared statement that is distributed to the media. product mix The collection of products a company offers to the market. A product mix can be either wide/broad (offering a large number of products) or narrow/limited (offering only a few products). public relations (PR)

A strategy used to increase the public's knowledge and acceptance of a company, its products or its services; often used to counter negative publicity. public-service advertisement (PSA) An advertisement focusing on the public's welfare, usually displayed on donated time or space. rate card A brochure that lists the costs of advertising on a particular media, such as radio, television, newspapers, magazines, or Web sites. target market The segment of the market actively pursued by a company. telemarketing A direct marketing tool in which a consumer is called by a seller, or the consumer calls the seller, the product or service is described, and the consumer decides whether or not to purchase. trademark The legal right of a seller granted by the government to the exclusive use of a symbol or brand. transit advertising A form of advertising appearing on vehicles (buses, subways, taxis, etc.) used to target specific geographic markets. undifferentiated marketing A marketing strategy that considers the market as a whole, that is with no segmentation. Also know as mass marketing. unearned revenue Used to describe payment in advance for services not yet rendered or future goods. d:\lohit\tips\arohika