Marketing Industry Examples and Buzzwords

Question 1

Word of Mouth

Answer 1

• When customers spread the word about a product/brand
• Organic word of mouth marketing isn’t influenced by the company, but rather happens simply because a product is good

Question 2

Value Proposition

Answer 2

• The specific thing about your product/business that makes it stand out from the competition

Question 3

User-Generated Content

Answer 3

• Taking advantage of an online community’s own content in various ways
• Running a giveaway or promoting people to share, requires minimal effort, yet creates awareness

• GoPro: user videos are placed in advertisements

Question 4

Touchpoints

Answer 4

• Every instance where a customer/potential customer interacts with your business

• seeing an advertisement
• talking to a sales person
• visiting a physical store
• viewing a website

Question 5

Social Mention

Answer 5

• Online tool that allows you to track user mentions of your company, product/service, or specific tags in real time

• Google Alerts

Question 6

Product / Brand Positioning

Answer 6

• The image of the product/business in the customer’s POV
• Understand your market with market definition and a brand promise

Ways to position:
- price and quality
- features and benefits

Question 7

Niche Marketing

Answer 7

• Catering marketing efforts towards a specific, but well-defined part of the population

• Fred: specialty goods

Question 8

Instead of Social Media…

Answer 8

Use terms such as:
* Social media advertising
* Video marketing
* Infuencer marketing
* UGC (user generated content)

Question 9

Growth Hacking

Answer 9

• Using creativity and rapid experimentation across different marketing channels to find the most effective way to grow a business

Question 10

Freebie Marketing

Answer 10

• Giving away additional free items or services with a product as an incentive to purchase

• Amazon: free shipping
• Gillette: razor and blade deals

Question 11

Emotional Branding

Answer 11

• Tactics used to create a more profound emotional bond between the advertised product and consumer

• Coca-Cola
• Apple
• Nike

Question 12

Direct Distribution

Answer 12

• Direct distribution through company-owned stores requires a great deal of capital investment
• Allows for much more control over a company’s marketing strategy and customer touch points

• Tesla Motors: company-owned stores instead of licensed dealerships

Question 13

Co-Branding

Answer 13

• A joint effort between two brands where a product/service is advertised under both of the brands’ names

• Genius and Spotify: annotated song lyrics
• Redbull and GoPro: Stratos
• Doritos and Taco Bell: Doritos taco shell

Question 14

Cause Marketing

Answer 14

• An initiative between a for-profit and non-profit organization for mutual benefits

• Procter and Gamble: Tide Dawn + Oil Spills
• TOMS Shoes: for every pair sold, a pair is donated

Question 15

Brand Promise

Answer 15

• Covers every aspect of your company
• Should be simple, memorable, credible, different, inspiring

Question 16

Brand Loyalty

Answer 16

• Positive association consumers attach to a particular product or brand
• Consumers will repeat purchases with one brand

This can be built by:
- authenticity
- engaging with customers
- recognize their needs before the customers do

Example:
- Apple has created brand loyalty with their ecosystem, that makes it difficult to escape the ecosystem

Question 17

Brand Image

Answer 17

• Value of the product in the customer’s mind

Question 18

Advergaming

Answer 18

• Using interactive games as a promotional tool for a product or company

• Cineplex Timeplay