Explore tens of thousands of sets crafted by our community.
Marketing Terminologies
49
Flashcards
0/49
B2B Marketing
Business-to-Business Marketing, the process of selling products or services to other businesses.
B2C Marketing
Business-to-Consumer Marketing, the process of selling products or services directly to consumers.
Market Segmentation
The process of dividing a broad consumer or business market into sub-groups of consumers based on some type of shared characteristics.
Marketing Mix
A blend of marketing tools that a company uses to pursue its marketing objectives in the target market, traditionally defined by the '4 Ps': Product, Price, Place, Promotion.
Brand Equity
The value a brand adds to a product or service, based on consumer perceptions, experiences, and brand associations.
Unique Selling Proposition (USP)
The factor or consideration presented by a seller as the reason that one product or service is different from and better than that of the competition.
Market Penetration
A measure of the amount of sales or adoption of a product or service compared to the total theoretical market for that product or service.
SWOT Analysis
A framework for identifying and analyzing the internal and external factors that can have an impact on the viability of a project, product, place, or person.
Customer Lifetime Value (CLV)
The prediction of the net profit attributed to the entire future relationship with a customer.
Customer Relationship Management (CRM)
A technology for managing all your company’s relationships and interactions with customers and potential customers.
Market Orientation
A business approach or philosophy that focuses on identifying and meeting the stated or hidden needs or wants of customers.
Marketing Funnel
A model that illustrates the theoretical customer journey from the awareness phase to the purchase phase and beyond.
Inbound Marketing
A strategy that focuses on attracting customers or leads via company-created Internet content, thereby having potential customers come to the company rather than marketers vying for their attention.
Outbound Marketing
Traditional form of marketing where a company initiates the conversation and sends its message out to an audience.
Content Marketing
A strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly defined audience and, ultimately, to drive profitable customer action.
4 Ps of Marketing
A set of marketing tools used to implement a marketing strategy and attract customers; these include Product, Price, Place, and Promotion.
Target Market
A specific group of consumers at which a company aims its products and services.
Lead Generation
The process of attracting and converting strangers and prospects into someone who has indicated interest in your company's product or service.
Search Engine Optimization (SEO)
The practice of increasing the quantity and quality of traffic to your website through organic search engine results.
Conversion Rate
A metric that shows the percentage of visitors who take a desired action.
Pay-Per-Click (PPC)
An internet advertising model used to drive traffic to websites, in which an advertiser pays a publisher when the ad is clicked.
Brand Awareness
The extent to which consumers are familiar with the distinctive qualities or image of a particular brand of goods or services.
Content Management System (CMS)
A software application or set of related programs that are used to create and manage digital content.
Cost Per Acquisition (CPA)
An online advertising pricing model where the advertiser pays for a specified acquisition - for example a sale, click, or form submit.
AIDA Model
A marketing model that outlines the process for achieving successful marketing and sales communications; stands for Attention, Interest, Desire, and Action.
Affiliate Marketing
A type of performance-based advertising in which a business rewards one or more affiliates for each visitor or customer brought by the affiliate's own marketing efforts.
Brand Loyalty
The tendency of some consumers to continue buying the same brand of goods rather than competing brands.
Click-Through Rate (CTR)
The ratio of users who click on a specific link to the number of total users who view a page, email, or advertisement.
Cross-Selling
The action or practice of selling an additional product or service to an existing customer.
Demographics
Statistical data relating to the population and particular groups within it used for identifying markets.
Direct Marketing
A form of advertising where organizations communicate directly to customers through a variety of media.
Elasticity of Demand
The economic concept that describes the amount of demand for a product or service in relation to price changes.
Guerrilla Marketing
An advertising strategy that focuses on low-cost unconventional marketing tactics that yield maximum results.
Integrated Marketing Communications (IMC)
A strategic marketing process specifically designed to ensure that all messaging and communication strategies are unified across all channels and are centered around the customer.
Key Performance Indicator (KPI)
A measurable value that demonstrates how effectively a company is achieving key business objectives.
Marketing Automation
The use of software and web-based services to execute, manage, and automate marketing tasks and processes.
Net Promoter Score (NPS)
A management tool that can be used to gauge the loyalty of a firm's customer relationships. It serves as an alternative to traditional customer satisfaction research.
Omnichannel Marketing
A multi-channel sales approach that provides the customer with an integrated customer experience. The customer can be shopping online from a desktop or mobile device, by telephone, or in a brick-and-mortar store and the experience will be seamless.
Penetration Pricing
A pricing strategy where the price of a product is initially set low to rapidly reach a wide fraction of the market and initiate word of mouth.
Product Life Cycle (PLC)
The course that a product’s sales and profits take over its lifetime, typically divided into four stages: Introduction, Growth, Maturity, and Decline.
Public Relations (PR)
The professional maintenance of a favorable public image by a company, organization, or famous person.
Return on Investment (ROI)
A performance measure used to evaluate the efficiency or profitability of an investment or compare the efficiency of a number of different investments.
Skimming Pricing
A pricing strategy whereby a firm charges a high introductory price, often coupled with heavy promotion, and later lowers the price to capture other market segments.
Social Media Marketing
The use of social media platforms and websites to promote a product or service.
Touchpoint
Any time a potential customer or customer comes in contact with the brand--before, during, or after they purchase something from the brand.
Value Proposition
An innovation, service, or feature intended to make a company or product attractive to customers.
Word of Mouth (WOM)
The passing of information from person to person by oral communication, which could be as simple as telling someone the time of day.
Yield Management
A variable pricing strategy, based on understanding, anticipating, and influencing consumer behavior in order to maximize revenue or profits from a fixed, perishable resource.
ZMOT (Zero Moment of Truth)
The moment when a consumer researches a product before the actual purchase is made.
© Hypatia.Tech. 2024 All rights reserved.