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Home→The Westburn Dictionary of Marketing→G→goodwill

goodwill

Definition:
A term which comes to MARKETING from the accountancy profession. 'Goodwill' is an intangible asset of a company and which is therefore of value to it. It cannot, however, be divided from the business and sold separately as can items of equipment or machinery. 'Goodwill' can be recorded in the ACCOUNTS of a company. 'Goodwill' is important when selling the company as the price asked can be enhanced by the 'goodwill' element. Customer lists, introductions to key customers and BRAND NAMES are all examples of 'goodwill'.

Cross-References:
[account] [brand name] [marketing]

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Figures:

© Westburn Publishers Ltd 2002, The Westburn Dictionary of Marketing edited by Michael J Baker, ISBN 978-0-946433-01-8. www.themarketingdictionary.com. Entry: [Barry R. Moore],.