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How to Talk Like an Insider
Here's a list of universal terms every aspiring marketer should know.
B2B and B2C: Businesses that sell products or services to other businesses, and businesses that develop products for consumers, respectively.
Brand: The total experience of all ideas and information associated with a product or producer, shaped by the specific images, slogans, name, logos, colors, sounds and design selected by a marketing team. Brands have the power to mold consumers- expectations about a product, and even to bestow that product with a distinct value or personality. Brand identity is the name given to a company's goal for its product appearance, whereas brand image is the consumer's actual perception.
The Four P's: Product, Promotion, Price, and Place (of distribution). Also known as the marketing mix, the four p's of marketing represent all the variables available to a marketing director in his or her efforts to maximize sales.
Market: A population of people or
organizations that have a similar need, desire, and ability
to pay for a product or service.
Point-of-sale: The place where a product purchase actually occurs.
Relationship marketing: The current era of marketing philosophy, placing the focus not only on transactions in the short-term but on building ongoing relationships with customers.
Reference group: A group (say, Ipod users) that an individual uses as a standard for defining his or her own beliefs and values (say, being young and hip), potentially having a great impact on customers- opinions and behavior patterns.
Sales promotion: Promotional activity used to motivate purchases, such as a coupon offer.
Viral marketing: Just like a virus that spreads contagiously, a strategy that encourages customers to spread a marketing message to friends and acquaintances-particularly effective through e-mail and far-reaching social networking sites (like Facebook).
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