1. Marketing
The process of identifying or creating needs and fulfilling them profitably.
2. Marketing Management
The planning and organisation of all the processes of meeting customers needs profitably.
3. Marketing Environment
The sumtotal of all the various factors that influence the Marketing of a company.
4. Consumer Behaviour
The combination of various factors: knowledge, exposure, peer influence, etc; that affect a consumer's purchase decision.
5. Market
A place where buyers and sellers meet and exchange products against a price.
6. Consumer Market
A market where products are sold to individual consumers in smaller quantities or numbers.
7. Industrial Market
A market where products are sold to businesses like colleges, govt departments, etc. Here products are sold in bulk.
8. FMCG
Fast Moving Consumer Goods
Those consumer goods which are sold to individuals in smaller units or quantities but are sold frequently, for example, Shampoo, Bread, etc.
9. Consumer Durables
Those products which are sold to individuals but are big and complicated products and aren't bought frequently, for example, Car, Refrigerator, etc.
10. Industry
A group of all companies offering a same type of product, for example, Automobile Industry.
11. Market Potential
The unmet demand for a particular product in a particular market at a particular time is called the Market Potential.
12. Market Share
The total sales percentage achieved by a company out of the total sales by all companies in a particular market for a particular time period.
13. Sales Potential
The numerical difference between Market Potential and Market Share is called Sales Potential.
14. Professional Services
It's an industry of technical or unique function performed by independent contractors or consultants whose occupation is the rendering of services.
15. Segmentation
It's the process of dividing the heterogenous market into segments which are homogenous so as to target one or more segments effectively.
16. Market Targeting
It's the process of targeting one segment, already selected, by a certain mix of Marketing Communication plan.
17. Positioning
Positioning is defined as the way by which the marketers attempt to create a distinct impression in the customer's mind.
18. Product Differentiation
Development or incorporation of attributes (such as benefits, price, quality, styling, service , etc.) that a product's intended customers perceive to be different and desirable.
19. Marketing Mix
It's the perfect blend among various attributes of Product, Place, Promotion and Price of an offering. In services, the mix extends to other 3 Ps: Physical Evidence, People and Process.
20. Brand
It's the identity of a product which can be made up of words, colours, images, logos, icons, etc etc.
21. Branding
Branding is the activity of creating such a Brand which stands out amongst others and displays a distinct identity of a product.
22. Price
Price is the monetary exchange value of a product.
23. Marketing Communication
It's the aggregate of various tools (Advertising, Sales Promotion, Personal Selling, Direct Marketing) used to convey the right message to a large number of intended audience.
24. Advertising
Advertising includes all messages a business pays to deliver through a medium to reach a targeted audience.
25. Sales Promotion
Sales promotions are the set ofmarketing activities undertaken to boost sales of the product or service.
26. Direct Marketing
It's the process of reaching out to a market on a personal basis or mass media basis.
27. Marketing Channels
A marketing channel is a set of practices or activities necessary to transfer the ownership of goods, and to move goods, from the point of production to the point of consumption.
28. Channel Motivation
It's the process of impressing the channel members so that they may promote a company's products with some efforts.
29. Product Mix
The variety of products offered by a company.
30. Product Line
Various varieties of one single kind or class of a product, for example, different varieties of Shampoo.
31. Product Breadth or Width
The total number of different product classes offered by a company, for example, Shampoo, Soap, Cream, Toothpaste.
32. Product Mix Length or Depth
It's the total number of different kinds or varieties of products offered in a single product line, for example, in Shampoo Line, a company offers Protein Shampoo, Herbal Shampoo and Anti Dandruff Shampoo.
33. Consistency
It means how closely the different products of a Product Mix are related to one another, how similar the products are.
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