IMPORTANT MARKETING TERMS FOR EXAMS -1

COPY : Written or typed matter intended to be reproduced in print.


COPYRIGHTS: The exclusive right, granted by law for a certain term of years, to make and dispose of copies of, and otherwise to control, a literary, musical, dramatic, or artistic work.


CRITICAL PATHS: Plots the events that need to occur to complete a project on a timeline.


CRM: Customer Relationship Marketing. Building loyalty through your relationship with a customer.


DATABASE: A large volume of information stored in a computer and organized in categories to facilitate retrieval.


DIRECT MAIL: Mailing brochures, letters, questionnaires etc. directly to the target market.


DIRECT MARKETING: Marketing to the customer without the use of an intermediary.

Types of Direct marketing:

There are many types of direct marketing, only some important types are listed below and these are the most form of direct marketing.
i)Direct Mail Marketing: Advertising material sent directly to home and business addresses. This is the most common form of direct marketing.

ii)Telemarketing: It is the second most common form of direct marketing, in which marketers contact consumers by phone.

iii)Email Marketing: This type of marketing targets customers through their email accounts
Display Ad: An advertisement which is usually designed by the advertiser and displayed in a box.

DIRECT RESPONSE: In advertising. Advertising designed to trigger a behavioral response in target audiences, e.g. placing mail back coupons in the ad, asking people to bring in or mention an ad, setting up a phone number and asking individuals to call for further information etc.


DIGITAL MARKETING: Digital Marketing is the practice of promoting products and services using all forms of digital advertising. It includes Television, Radio, Internet, mobile and any other form of digital media.


DISTRESS RATES: Cheaper rates for advertising at short notice, i.e. When newspapers have spaces to fill shortly before their deadlines.


DISTRIBUTION: To place promotional material, e.g. fliers or posters, throughout areas where they will be picked up.
Drip Marketing: Method of sending promotional items to clients is called Drip marketing.


DUMPING: If a company exports a product at a price (export price) lower than the price it normally charges on its own home market (normal value), it is said to be 'dumping' the product. Dumping can harm the domestic industry by reducing its sales volume and market shares, as well as its sales prices. This in turn can result in decline in profitability, job losses and, in the worst case, in the domestic industry going out of business. Often, dumping is mistaken and simplified to mean cheap or low priced imports. However, it is a misunderstanding of the term. On the other hand, dumping, in its legal sense, means export of goods by a country to another country at a price lower than its normal value. Thus, dumping implies low priced imports only in the relative sense (relative to the normal value), and not in absolute sense.


FREE POST: Used to encourage a response by mail. The sender does not pay to return an item by post e.g. a questionnaire.


GUERRILLA MARKETING: Unconventional marketing intended to get maximum results from minimal resources is nothing but Guerrilla Marketing.


JIT: Just-in-time (JIT) is an inventory strategy implemented to improve the return on investment of a business by reducing in-process inventory and its associated carrying costs. In order to achieve JIT the process must have signals of what is going on elsewhere within the process.


INCENTIVE: Something of financial or symbolic value added to an offer to encourage some overt behavioral response.


INDIRECT MARKETING: Indirect Marketing is the distribution of a particular product through a channel that includes one or more resellers.

Difference b/w Direct and Indirect Marketing:

· Direct marketing is basically advertising your own products or services.
· In the same way you might advertise for someone else is called Indirect marketing, is an increasingly popular way of doing business.


INTERNET MARKETING: Internet marketing is the marketing of products or services over the Internet.
Internet Marketing is also known as i-marketing, web-marketing, online-marketing, Search Engine Marketing (SEM) or e-Marketing.


KEY SELLING POINTS: The components of a program or event that will appeal to the greatest number of people.


LOYALTY PROGRAMS: A component of relationship marketing. Programs designed to increase the strength of a consumer's preference for a particular entity. The most common form of loyalty program in the arts is subscription or membership programs.


MARKETING: The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services, and people to create exchanges that will satisfy individual and organizational goals.


MARKETING MIX: The blend of product, place, promotion, and pricing strategies designed to produce satisfying exchanges with a target market.


MARKET RESEARCH: The process of planning, collecting, and analyzing data relevant to marketing decision-making. Using a combination of primary and secondary research tools to better understand a situation.