May 4, 2013

IMPORTANT MARKETING TERMS FOR EXAMS-2

MERGERS AND ACQUISITIONS: The phrase mergers and acquisitions (abbreviated M&A) refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling and combining of different companies that can aid, finance, or help a growing company in a given industry grow rapidly without having to create another business entity. A merger is a tool used by companies for the purpose of expanding their operations often aiming at an increase of their long term profitability. An acquisition, also known as a takeover, is the buying of one company (the ‘target’) by another.


MEDIA HOOKS: Aspects of an event or program that are most likely to appeal to a journalist or the media generally.
Media Monitoring: Systematic monitoring of the media in order to ascertain what has been said. Specialized agencies provide this service.


OFFERS: A proposal by a marketer to make available to a target customer a desirable set of positive consequences if the customer undertakes the required action.


PITCH: A proposal - either verbal or written - to enlist the engagement or support of a third party.


PSYCHO GRAPHICS: Life-style measures which combine psychological and demographic measurements based on consumers' activities, aspirations, values, interests or opinions.


PUBLICITY: Definitions vary but in Sauce the term is used to describe obtaining media coverage.


PERSONAL SELLING: Persuasive communication between a representative of the company and one or more prospective customers, designed to influence the person's or group's purchase decision.


QUALITATIVE RESEARCH: Research that seeks out people's attitudes and preferences, usually conducted through unstructured interviews or focus groups.


QUANTITATIVE RESEARCH: Research that measures (quantifies) responses to a structured questionnaire, conducted either through telephone, face-to-face structured interviews, on the Internet or through self completion surveys.


QUICK CUTS: The brand name of technology which enables design companies or advertising agencies to transmit advertisements directly to the publication over a telephone line.


REACH: The total number of people your organization or campaign reaches.


RELATIONSHIP MARKETING: Marketing with a focus on building long-term relationships where the target customer is encouraged to continue his or her involvement with the marketer.


STRATEGIC MARKETING: The process of managerial and operational activities required to create and sustain effective and efficient marketing strategies, including identifying and evaluating opportunities, analyzing markets and selecting target markets, developing a positioning strategy, preparing and executing the market plan, and controlling and evaluating results.


SITUATIONAL ANALYSIS: An analysis of the internal and external environment of a company or event.
SWOT Analysis: Identifying the strengths and weaknesses, which are internal to the organization or project and the opportunities and threats, which come from outside the organization.


SOCIAL MEDIA MARKETING: Social media marketing is marketing using online communities, social networks, blog marketing and more

TALENT: The person or people you put forward to the media as possible subjects for an interview, a game show, a picture or footage, etc.


TARGET AUDIENCE: The section of the population that is identified as likely to be most interested in buying or being associated with a product.


TARGET MEDIA: The media you decide to target for coverage because they reach your target audience.
Targeting: The act of directing promotions to the target audience.


TARPS: Target audience rating points -- that is, the number of people or percentage of people reached in your target audience


UNIQUE SELLING PROPOSITION (USP): The one thing that makes a product different than any other. It's the one reason marketers think consumers will buy the product even though it may seem no different from many others just like it.


VIRAL MARKETING: Marketing by the word of the mouth, having a high pass-rate from person to person is called Viral marketing. Creating a 'buzz' in the industry is an example of viral marketing
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