Marketing Terms from A to Z
- Advertising: Advertising is a way of communication with the consumers of a particular product or service.
- Advertisements: Advertisements are paid way of communication and paid to those who send the message to the public.
- Brand: A brand is a name of a product or service which makes an identity by itself.
- Distribution: Distribution is the way to distribute the product throughout the market so that a huge population can purchase it.
- Endorsement: Endorsement is a type of advertising to promote the product or service which is done through the celebrities. Advertisers understand that it will influence buyers well as they have high degree of credit, trust and respect among people.
- Marketing Mix: Marketing mix made from the combination of 7Ps i.e. Product, Price, Promotion, Place, Packaging, Positioning & People. It is used by the marketers to promote their product or service in the market
- Market: A market is a place where buyers and sellers gather at a place to buy and sell the product or services.
- Penetration: Penetration defines how many consumers are there for a product. Higher level of penetration defines the success of a product.
- Place: Place refers to the channel through which goods move from the source to the final user.
- Mark Up: Mark Up means the value, a market player adds to the cost price of a product. When the mark-up added to the cost price , it becomes the retail price.
- Positioning: Positioning means where the product of a company stands in relation to its competitors similar products and services.
- Price: Price is the value which is put to a product or service. Price plays a very important role in the success and failure of any product & service. The price charged by the company depends on the competition, the quality, the marketing and the segment that is targeted by it.
- Product: Product is any item either product or service offered by the company for sale.
- Promotion: Promotion refers to the whole set of actions, which is used to introduce the product or service to the customer. It is a way to aware, to attract and to encourage them to buy that product.
- Sales promotion: Sales promotion is the set of all marketing activities taken by the company to increase sales of its product or service.
- Segmentation: Segmentation is the method to divide the whole marketplace into segments which are definable and profitable and have a growth potential. It becomes very difficult for a company to target the whole market. So, they decide a perfect segment of the market on the basic of their product, time and budget.
- SWOT Analysis: SWOT Analysis is a method of analysis of the company’s Position in the environment. “SWOT” stands for Strengths, Weaknesses, Opportunities and Threats.
