Key terms(1.3.2) Flashcards
Advertising definition
paid form of communication used by a business to raise customer awareness of its products, services and brands to persuade purchases to be made
Customer loyalty definition
customers favouring a business over competitors when making a purchase/favour it over competitors in the same market
Digital communications definition
electronic transfer of data
Direct marketing definition
where a business mails out leaflets or letters to households
Emotional branding definition
the creation of brands that may appeal to customers emotional nature rather than their logical side
Manufacturer/corporate branding definition
brands created by the producers of goods and services e.g Kelloggs cornflakes (bear the name of the producer)
Own brand definition
products that are manufactured for wholesalers or retailers by other businesses e.g Tesco beans
Personal selling definition
direct communication between a sales person and the ustomer
Premium price definition
charging a higher price than competitor because of customer loyalty that has been built up over a period of time
Promotion definition
the way a business creates demand/awareness for its product/service
Public relations definition
an organisations attempt to communicate with interested parties usually through unpaid media such as press conferences
Sales promotion definition
methods of promoting products in the short term to boost sales
Social media definition
websites and applications that enable users to participate in social networking
Sponsorship definition
a company giving a product or money to support another business or person
Unique selling point (USP) definition
a feature that differentiates a product from its competitor
Viral marketing definition
encouraging customers to share information/adverts throuogh existing social media platforms e.g Facebook
