Freepost: Used to encourage a response
by mail. The sender does not pay to return an item by post e.g. a
questionnaire.
Guerilla Marketing: Unconventional
marketing intended to get maximum results from minimal resources is nothing but
Guerilla 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
behavioural 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.
Marketing Strategy: The first stage is
setting marketing objectives (where the organisation wants to be at the
end of the strategic planning period) and goals
(the objectives with specific numerical
benchmarks and deadlines attached to allow management
to measure achievement). The second stage is specifying the
core marketing strategy, i.e. specific target markets,
competitive positioning and key elements of the marketing
mix. The third is the implementation of tactics to achieve the core strategy.
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. Specialised
agencies provide this service.
Offer: 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.
Psychographics: 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.
Quickcuts: 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 organisation 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 Planning: 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 organisation or project and
the opportunities and threats, which come from outside the organisation.
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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