Marketing & Attraction Flashcards
Advertising
Any paid form of non-personal mass media presentation of image, goods or services by an identified sponsor.
Cost Per Thousand (CPM)
The cost of a single insertion divided by the number of target market members.
Direct Mail
A form of advertising in which a message is sent to pre-selected targets.
Frequency
The number of times those reached by a marketing technique or message are exposed to it.
Geographic Segmentation
Subdividing a market into units such as regions, countries, states, or cities.
Image
The sum total of all the perceptions other have about a community or entity.
Market
The set of existing and prospective users of a product or service.
Market Segment
A distinct or definable subset of a market, also target market.
Marketing
The process of analyzing, planning, and executing and controlling messages and programs designed to influence the level, timing, and character of demand in selected target markets for the purpose of achieving an organization’s objectives.
Marketing Mix
The combination of different marketing techniques used to reach and influence a target market.
News Release
An announcement of community, state, national, or international interest distributed to print media by the organization for which the release is about.
Niche
An identifiable market or marketing segment that can be readily and prosperously perpetrated.
Personal Selling
A professional market effort involving face-to-face communication and feedback, with the goal of making a sale or inducing a favorable attitude towards a community or company.
Promotion
The act of furthering the growth and development of an organization by generating exposure to a target market.
Reach
The size of an audience (number of people or organizations) exposed to marketing technique once.
Selling
The exchange of goods, services, or ideas between two parties.
Social Media
The use of emerging media to communicate interactively with customers.
Target Audience
The sector of a total market that an organization has selected to serve, this audience meets the community’s economic development goals and competitive advantages.
Target Marketing
Focusing marketing effort on one or more segments within a total market
Test Marketing
Selecting one or more markets in which to introduce a new product or service and marketing program to observe and assess performance and what revisions are needed, if any.
Trade or Industry Association
An organization established to serve the needs of members of that same industry or trade.
Trade Show
A commercial or industrial formal gathering in which sellers at pre-assigned stations present goods or services for possible sale to prospective buyers.
Web 2.0
The interactive, integrated and responsive platform of the World Wide Web.
Marketing and attraction requires that the ED practitioner
- know the product
- know the market
- know the process
Explain each one a little further.
- An EDO must have an inventory of the factors that contribute to its comparative and competitive advantage that is updated on a regular basis. This includes community’s assets and strengths, ranging from physical infrastructure to living costs and tax rates.
- An EDO must identify industries that best fit the community’s economic assets and development goals. They must understand the overall business market, be aware of trends within the specific industries, and third how do they compare to competitors?
- craft and deliver the community’s marketing message; provide the right information to prospects
