BUS602: Marketing Management

This video provides a simple example of the use of terms. Marketers must be careful with the common use of abbreviations and acronyms.

In particular, one of the frustrating aspects of shipping and transportation for marketers concerns the use of shipping terms. Shipping terms have evolved over several hundred years and are often misinterpreted or misunderstood. This problem often results in disputes between buyer and seller, particularly with international cargo movements. Abbreviations and acronyms are commonly used and can be misunderstood. When you doubt the meaning of a shipping term, look it up.

For more on current shipping terms, you can visit the International Chamber of Commerce (ICC) website and review "Incoterms". This provides the standard terminology used throughout the world for shipping terms. It is a good reference if you are planning to go on to do work in international marketing.