An account executive (AE) is responsible for managing client relationships within an organization, serving as the primary contact point, ensuring customer satisfaction, and overseeing the delivery of services.
Paid message communicated through various media by industry, business firms, nonprofit organizations, or individuals to influence purchasing behavior and/or thought patterns of the audience.
The American Marketing Association (AMA) is a national professional society comprised of marketing and marketing research executives, sales and promotion managers, advertising specialists, and marketing teachers. Based in Chicago, the AMA provides a wealth of resources including publications like Marketing News, the Journal of Marketing, and the Journal of Marketing Research.
The act of noticing an advertisement or commercial; a component of information or perceptual processing. Given that consumers typically focus on items relevant to their needs, attitudes, or beliefs, attention is inherently selective. There have been instances in advertising history where attention was captured by the advertisement itself rather than the product being promoted.
Mental position or emotional feelings about products, services, companies, ideas, issues, or institutions. Attitudes are shaped by demographics, social values, and personality.
A Bachelor of Business Administration (BBA) is a four-year degree program that equips students with comprehensive knowledge of business principles, ethics, and practices. The program encompasses a variety of business-related disciplines and offers specializations in areas such as accounting, finance, marketing, management, business statistics, and real estate.
Innovative and flashy, but often unnecessary and confusing, features of a product, such as computer hardware or software. Originally referred to the 'toy boxes' on theater organs of the silent-movie era.
The Boston Matrix, also known as the BCG Matrix, is a tool used in brand marketing and product management to help companies decide what products to keep, develop, or discontinue. It categorizes products based on market growth and market share.
A brand serves as an identifying mark, symbol, word(s), or a combination that distinguishes one company's products or services from those of another. It encompasses brand names and trademarks.
Brand association refers to the degree to which a particular brand is connected with the general product category in the minds of consumers. It often leads to consumers referring to the product by brand name rather than its generic name.
Addition of a new product to an already established line of products under the same brand name, allowing the new product to benefit from the established reputation of the older product.
Qualities that consumers associate with a specific brand, expressed in terms of human behavior and desires, which relate to the price, quality, and situational use of the brand.
A brand manager, also known as a product manager, is responsible for marketing and making key advertising decisions for a specific brand within a company.
A brand name is the vocalizable component of a brand, trademark, or service mark, setting it apart from visual identifiers. It can be a word, letter, or a combination of words and letters.
Branding entails creating a perception in the mind of consumers regarding the image and quality provided by a company’s name. It involves various strategies to build a distinct identity and distinguish a company's products or services from competitors.
A flyer or small book used to advertise or describe a product for sale or service available.
A Business Reply Card (BRC) or envelope is a pre-addressed reply mechanism, typically used for promotion, that allows respondents to reply without needing to pay postage. The initiating mailers cover the postage costs via an annual business reply permit fee.
A 'Cash Cow' is a term used in the Boston Matrix to describe a business unit or product that generates a steady, reliable cash flow with lower investment, often used to fund other ventures or pay down debt.
Costs associated with establishing, maintaining, or increasing the readership of a periodical such as a magazine or newspaper.
Cognitive dissonance is a psychological theory that explains the mental discomfort experienced by a person who holds two or more contradictory beliefs, values, or attitudes, especially when their behaviors contradict these beliefs.
A commercial is an advertising message that is broadcast on television or radio. Unlike print advertisements, which are focused on space, broadcast commercials leverage time and must creatively integrate elements such as words, sound, and music for radio; and additionally sight and motion for television.
A competitive strategy is a plan formulated by an organization to gain a competitive edge over its rivals. In the context of advertising, it may include tactics designed to discredit rival brands, undercut prices, or highlight unique product qualities and consumer benefits not found in competitors' offerings.
The term 'concession' can refer to various business arrangements, such as small shops in lobbies, government-granted rights, rent reductions, or compensation in corporate underwriting.
The ultimate user of a product or service, who may not always be the purchaser of the product.
Consumer behavior involves understanding how and why individuals make purchasing decisions, influenced by internal and interpersonal factors. Marketers use this knowledge to create effective stimuli that prompt sales by aligning with customer personalities and needs.
Cooperative advertising, often referred to as co-op advertising, is a cost-sharing arrangement where manufacturers and retailers or distributors collaborate to promote a product or brand. This mutually beneficial strategy leverages the strengths and resources of both parties to optimize marketing efforts and expand market reach.
Cross merchandising refers to the practice of displaying items from different product categories together in order to drive additional sales and enhance the overall shopping experience.
Differential advantage refers to the unique benefits or characteristics of a firm's product or service that set it apart from competitors and provide a superior value to customers.
A method of pricing a product in which the same product is supplied to different customers, or different market segments, at different prices. This approach is based on the principle that to achieve maximum market penetration, the price charged should be what a particular market will bear.
DINKs is an acronym for Dual-Income, No Kids, referring to a family unit where there are two incomes and no children. It often includes couples who collectively earn higher discretionary incomes.
Direct mail is a form of advertising in which physical promotional materials are sent directly to the recipients via postal mail. It is the third-largest advertising medium following newspapers and television. This method allows businesses to target specific segments of the population effectively, leveraging addresses and other niche data to tailor campaigns. Direct mail can take various forms, including postcards, catalogs, brochures, and letters.
Direct-action advertising, also known as direct-response advertising, aims to elicit an immediate response or action from the target audience, such as making a purchase, signing up for a newsletter, or visiting a website.
Analyzing direct and indirect costs associated with marketing a product or service in a specific area.
A distribution strategy is management's plan for moving products to intermediaries and ultimately to final customers. It involves decision-making regarding the channels of distribution, the logistics and transportation of goods, and the mechanisms for inventory management.
Economies of scope refer to the increases in efficiency and potential sales that businesses experience when they produce, distribute, and market a range of products rather than focusing on a single product or type of product.
An end user is the individual or group who will ultimately utilize a product, contrasting with those who develop, market, or sell the product.
Exposure refers to the level of risk assumed by an individual or entity, measured by the amount that one can potentially lose in finance. In marketing, it describes the extent and frequency of advertisements reaching the target audience across various media channels.
The Family Life Cycle describes various stages in family life resulting in different buying patterns. It accounts for changes in family structure and behavior accompanying the progression from birth to death.
Fashion refers to the style of conduct or dress that is being followed by individuals at a particular time. It encompasses clothing, accessories, lifestyle, and behavior trends that evolve seasonally, based on consumer tastes, cultural influences, and social dynamics.
Form Utility refers to the enhancement of a product's marketability through changes to its physical characteristics, making it more useful to consumers.
The Four Ps of Marketing represent the essential components of a successful marketing strategy: Product, Price, Place, and Promotion. Developed by E. Jerome McCarthy, these elements help businesses address choices about what products or services to produce, pricing strategies, distribution channels, and promotional tactics.
Gender analysis involves assessing names on mailing lists to identify which names correspond to male or female individuals, utilizing a database of typically gendered names. This analysis enables tailored marketing efforts based on gender-specific demographics.
The term 'generic' can be used in various contexts such as to describe something that relates to or covers an entire class or category. In marketing, it often refers to a whole product or service category without any specific brand association.
A generic appeal in advertising focuses on promoting an entire product category rather than a specific brand. For example, the American Dairy Association's campaign encouraging the consumption of milk doesn't spotlight any particular milk brand.
A broad group of buyers with approximately the same general needs, who can choose from different sellers offering varying ways to satisfy those needs.
In a business context, the term 'gratuitous' refers to actions or items that are uncalled for or provided free of charge. These can include free samples given to potential customers or services voluntarily performed by employees in their personal time.
Gross billing refers to the total cost of advertising with a communications medium, including the advertising agency commission, and often also encompasses the cost of a one-time insertion in a communications medium.
Hard sell refers to aggressive sales practices that aim to pressure a customer into completing a transaction quickly.
House-to-House Sampling is a marketing strategy involving the direct distribution of product samples to individual homes to encourage trial and eventual purchase, often aiming to stimulate word-of-mouth promotional effects.
A facility that provides small entrepreneurial businesses with affordable space, shared support, and business development services such as financing, marketing, and management. Incubators play an important role in helping young businesses survive and grow during the startup period, when they are most financially vulnerable.
Inductive reasoning is a process where specific observations or experiences are used to make generalized conclusions. Commonly used in fields such as science, marketing, and business strategy, inductive reasoning involves deriving patterns or theories from specific instances.
Industrial advertising focuses on promoting products and services used by commercial business customers in the production or distribution of other goods and services. This niche sector is vital for businesses that deal in raw materials, components, or equipment.
Institutional advertising is a form of image advertising intended to change the public perception of a company in various dimensions such as environmental issues, health, product safety, or other public matters. It aims to create a positive public awareness of a company and distinguish it from competitors.
An independent stand from which merchandise is sold, often placed in the common area of shopping centers.
The term 'launch' has multiple applications; it can refer to the start or loading of a computer operating system or program, and it can also mean the advertising and release of a new product in the market.
Line extension refers to the addition of another variety of a product to an already established brand line of products. This strategy helps brands to capitalize on their existing reputation and market base, offering consumers more options while remaining under the trusted umbrella of the original brand.
A list owner refers to the individual or organization that possesses and controls a mailing list, often used for marketing and solicitation purposes. Mailing lists are generally sold on a price per name basis.
A licensed real estate professional who secures a listing of the property and is responsible for marketing and selling it. They are employed by the seller and contrast with the selling agent, who represents the buyer.
A logo, also known as a logotype, is a unique design, symbol, or special representation used to identify and distinguish a company, organization, or product, often trademarked for intellectual property protection.
A highly recognizable and iconic design, often a wordmark or lettermark, that represents the brand identity of a business or organization.
Madison Avenue is a famous avenue in New York City historically known as the hub of the advertising industry, housing major advertising agencies. While many agencies have expanded nationally and internationally, they maintain a significant presence in New York City.
A compilation of possible customers prepared as a list for use in direct-mail solicitation.
In its most fundamental sense, a market is any public place where products or services are bought and sold, either directly or through intermediaries. It also refers to the aggregate of people with the present or potential ability and desire to purchase goods or services. Securities markets, such as the New York Stock Exchange, are an important facet of markets in the financial domain.
A market segment is one of two or more subgroups within a target market. Different marketing mix strategies can be developed to reach each of the target market segments.
Market segmentation is the process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers (known as segments) based on some type of shared characteristics. The goal is to identify high-yield segments — that is, those segments that are likely to be the most profitable or that have growth potential — so that these can be targeted with tailored marketing strategies.
Marketing encompasses the strategic activities involved in promoting the sale of goods or services. This discipline is centered around the Four Ps: product, price, place, and promotion.
A nondirected marketing approach designed to appeal to all possible users of a product.
A Media Plan is a crucial element in an advertising strategy. It specifies the media to be used, outlining media objectives and strategies within a designated timeframe and budget.
The planning and activities involved in marketing the right merchandise or service at the right place, time, quantities, and price to stimulate sales through effective promotional strategies.
A multibuyer is a customer who appears on two or more customer lists, indicating purchases from each list owner. This term is also known as a multiple buyer. Multibuyers may be moved to a special promotion list due to their demonstrated high propensity to purchase.
Multimedia mail refers to emails that contain a combination of text, images, audio, and video, enhancing the communication experience and audience engagement. Often used in marketing and communication strategies, multimedia mail aims to capture the recipient's attention more effectively compared to plain text emails.
A National Brand refers to a product that is distributed, sold, and recognized across the country, as opposed to a store brand, which is typically exclusive to the retailer selling it.
A news release, also known as a press release, is a brief written statement or video released to the mass media to announce new products, changes in management, sales and earnings information, and other items of interest.
An opinion leader is an individual whose ideas and behavior serve as a model to others, influencing the attitudes and behavior changes of their followers.
In marketing and advertising, overkill refers to an expensive promotional effort that produces diminishing returns because it repels rather than attracts consumer interest.
Package bands are strips of paper or other materials printed with advertisements, announcements, or special price offers, which are wrapped around a product package.
A Package Code is an identification code used by direct marketers to track and compare the effectiveness of different mailing packages, particularly when testing new promotional packages against control packages.
Package design refers to the comprehensive process of planning and fashioning the form and structure of a product's package. This includes various elements such as size, shape, color, closure, appearance, protection, economy, convenience, labeling, and environmental impact.
Payola refers to the secret or private payment made to individuals or organizations in exchange for the promotion of a product or service. The term originated in the 1950s within the record industry.
Penetration pricing involves establishing low pricing for a product to achieve rapid market entry and discourage competitors, with the potential to raise prices later once market share is established.
Persuasion is the act of inducing attitude changes and influencing a target market to action, by appealing to reason or emotion. It is a primary objective of modern advertising aimed at creating effective advertisements using various persuasive elements.
Promotional advertising aimed at encouraging product sampling and brand switching to influence consumer behavior and increase market share.
Place utility refers to the value added to products or services by making them available in locations convenient for consumers, thereby increasing the product's overall utility.
A point-of-purchase display is a promotional tool used to attract consumer attention and influence purchasing decisions at retail locations by providing detailed product information and advice.
Additional consumer value created by transferring a product's ownership.
A press kit, also known as a media kit, is a collection of promotional materials a company produces to provide information about itself to members of the press or media.
Advertising designed to enhance the prestige of a company or a company's products or services, aiming to elevate the perceived reliability, quality, and reputation.
A price war occurs when competing companies reduce their prices in a bid to attract customers, often leading to reduced profits and potentially driving some businesses out of the market.
Primary demand refers to the total market demand by consumers for non-capital goods rather than specific brands, focusing on the intrinsic need for a product category as a whole.
An organization of producers who cooperate in the areas of buying supplies and equipment and of marketing. These cooperatives aim to achieve greater efficiency and market influence than they could individually.
Product advertising is targeted specifically at promoting individual products or services, highlighting their features, benefits, and performance to attract customers and drive sales.
A product image is a visual representation used in marketing and advertising to promote and describe a product.
A product line refers to a group of products manufactured by a firm that are closely related in use and in production and marketing requirements. The depth of the product line indicates the number of different products offered within that line.
The assortment of merchandise made or held for sale by a business; a crucial element of marketing strategy.
Promotion refers to the process of advancing an employee to a higher job position with greater pay and responsibilities or the set of marketing activities aimed at increasing brand visibility, sales, and customer engagement.
A promotion mix is a blend of various promotional methods aimed at achieving marketing objectives, including advertising, personal selling, publicity, and sales promotion.
A promotional allowance is a reduction of the wholesale price as an incentive to retailers or middlemen. It compensates the retailer for expenditures made promoting the product.
A prospect refers to a potential client, customer, or employee who is expected to engage in a business transaction or association. The term is commonly used in sales, marketing, and HR contexts.
Psychographics involves determining market segmentation based on consumer psychological profiles. It encompasses various psychological attributes such as interests, values, attitudes, and lifestyle preferences, providing a deeper understanding of consumer behavior.
A marketing approach where the seller concentrates efforts on the end user through various promotional activities to create demand at the retail level.
