Are you unsure of some of the marketing jargon and terminology that get banded about when in meetings?
In almost all businesses and organisations, educational facilitates and offices we have and use jargon, words or anagrams that some people just don’t understand.
“I think putting labels on people (or things) is just an easy way of marketing something you don’t understand” by Adam Jones
So, we have come up with an A-Z for Marketing Terms that are used within our industry. This list is only small and there are a lot more terms but this is a good place to start!
Audience – (a.k.a. Target Market, Ideal Customer, Perfect Client) Within the marketing context the audience in the group of people who you are aiming to attract and engage with through your marketing communications.
Analytics – ways of measuring your marketing to see if it working or not. You can use a number of online analytics tools and packages like Google Analytics (Website analytics), Clicky (Real time analytics), Facebook Insights and TweetMap (Twitter analytics).
B2B – This is business carried out between two businesses.
B2C – This is business carried out between a business and a consumer.
However, we should be thinking about H2H – Human to Human because people buy from people!
Consumer Behaviour – This is a key consideration within academic debate, as efforts to understand and quantify why consumers behave and respond to stimuli in a certain way is essential for all marketing.
Demographics – Statistical data relating to the population used to segment the market – Usually includes factors such as age, sex, income & employment status.
Ethics – Ethics are effectively moral principles which are often followed for the good of individuals and society.
Focus Groups – These are groups of individuals used in qualitative research to test specific hypothesis.
Geo-Tagging – This is the process of adding geographic information to various form of media such as photography and videos.
Heuristics – Within the decision making process heuristics are mental short-cuts used to make the decision making process easier and shorter, even if they are based on little evidence – an example would be more expensive products are better quality
Integration – Integrated marketing is the connection and congruity between all of your marketing communications both online and offline, which lead to a focused and effective brand.
Knowledge Base – A collation of knowledge based on a business or brand which can be used to produce a new marketing plan, market position or more.
Link-Building – One of the key techniques used to improve a websites search engine optimisation (SEO).
Marketing Communications (MarComs) – These are the tools and channels that businesses use to communicate their marketing message with their target market.
Niche Market – Subset of the market on which specific products, goods and services are focused, often due to the small percentage of the market that can be aided by or can afford the product or service.
Opinion Leaders – These are people, often specialists within the industry or sector, who can influence people through communication of their thoughts and ideas.
Psychographic – This is one of the three pillar of segmentation which focuses of segmenting customer based on their values, opinions, attitudes, personality, lifestyle and interests.
Qualitative/Quantitative – These are the two main types of data collection that is carried out within marketing research, both have their benefits and limitations. But largely quantitative data aids the discovery of phenomena, while qualitative data facilitates the understanding behind the phenomena.
Research & Development (R&D) – This is the process of carrying out research to test, introduce and improve products and services.
Relationship Marketing – Relationship marketing is the kind of marketing approach that is primarily developed from direct response marketing campaigns that emphasizes customer satisfaction and retention.
Segmentation – Division of the market into separate parts based on their shared characteristics, be that; demographic, behavioural or psychographic.
Top-of-Mind Awareness (TOMA) – This is an aspirational place within consumer minds for many brands. As it is the first brand which consumers think of when think of a specific industry.
User Experience (UX) – This relates to users emotions, feelings and attitudes while engaging with a product or service, many business with aim to produce an engaging user experience to increase customer loyalty and word of mouth.
Value – This term can take many forms, but I feel the key role of value is understanding the value to provide to your customers as then this can be effectively communicated to enhance business generation.
Word of Mouth – This is often thought of as the best form of marketing as it is very powerful and free! It is in essence just the spread of information/reputation from one person to another through oral communication.
Yield Management – The process of pricing a business’s goods or services to maximise the amount of revenue received per unit sold.
This post was written by Lawrence Chadwick (Marketing Assistant for Koogar)
Updated by Amanda on 02/08/2017