Marketing Terminology

Question 1

Define the following marketing term:

QOR

Answer 1

Quarterly Operations Review

Question 1

Define the following marketing term:

AOP

Answer 1

Annual Operating Plan

Question 2

Define the following marketing term:

QBR

Answer 2

Quarterly Business Review

Question 3

Define the following marketing term:

ROI

Answer 3

Return on Investment

Question 4

Define the following marketing term:

CAGR

Answer 4

Compound Annual Growth Rate: use to meausre the toal growth over the span of several years.

Question 5

Define the following marketing term:

SAM

Answer 5

Served Available Market: how big the market served by a company or its products are.

Question 6

Define the following marketing term:

SOM

Answer 6

Share of Market: market share, percentage of SAM

Question 7

Define the following marketing term:

TAM

Answer 7

Total Available Market: used as a measure to describe the total market size

Question 8

Define the following marketing term:

A/B Testing

Answer 8

Testing Version A and Version B of a website or build to gauge differnet user experiences and reposnses. Often one version is held as a control.

Question 9

Define the following marketing term:

Abandonment rate

Answer 9

Number of abandoned shopping carts vs. the number of completed transactions

Question 10

Define the following marketing term:

Affiliate

Answer 10

A marketing partner that promotes your product or services under a pay-for-results agreement

Question 11

Define the following marketing term:

Bot

Answer 11

Automated software programs which can scan or crawl the web to gather information

Question 12

Define the following marketing term:

Campaign

Answer 12

Defines the daily budget, language, geographic targeting, and location of where the ads are displayed

Question 13

Define the following marketing term:

Click Thru Rate

Answer 13

The percentage of times a user clicks on an ad

Question 14

Define the following marketing term:

Contextual Advertising

Answer 14

Advertising that is targeted to a Web page based on the page’s content, keywords, or category

Question 15

Define the following marketing term:

Conversion Rate

Answer 15

The percentage of your clicks that generate sales or leads

Question 16

Define the following marketing term:

Cost Per Action

Answer 16

A form of advertising where payment is dependent upon an action that a user performs.

Question 17

Define the following marketing term:

Cost Per Click

Answer 17

A performance-based advertising model where the advertiser pays a set fee for every click on an ad

Question 18

Define the following marketing term:

CRM

Answer 18

Customer relationship management.

Question 19

Define the following marketing term:

Data mining

Answer 19

Process of finding new and potentially useful knowledge from data, includes the use of mathematical tools to find difficult patterns of intelligence.

Question 20

Define the following marketing term:

DPI

Answer 20

Disposable personal income

Question 21

Define the following marketing term:

DPP

Answer 21

Direct product profitability, net contribution per product to the bottom line

Question 22

Define the following marketing term:

Dual sourcing

Answer 22

Policy of always choosing two or more suppliers to encourage competitive bids and performance

Question 23

Define the following marketing term:

Dumping

Answer 23

Policy of selling goods at or below market value in order to “buy” market share or dispose of product at a loss

Question 24

# Define the following marketing term: Duopoly

Answer 24

Market situation in which there are only two marketers of an economic good, while demand conditions re-main competitive

Question 25

# Define the following marketing term: EDI

Answer 25

Electronic Data Interchange, often used for exchange of data between two or more ERP systems

Question 26

# Define the following marketing term: ERP

Answer 26

Enterprise Resource Planning: commonly refers to software form providers such as Oracle, SAP; large software suites used to manage business operations

Question 27

# Define the following marketing term: EDLP

Answer 27

Everyday low price

Question 28

# Define the following marketing term: Guerilla Marketing

Answer 28

Usually denotes aggressive or innovative marketing on a small or non-existent budget

Question 29

# Define the following marketing term: Gallery Proof

Answer 29

Final hard copy of collateral used for review before approval

Question 30

# Define the following marketing term: Impression

Answer 30

Number of times and ad has been viewed

Question 31

# Define the following marketing term: Integrated Marketing

Answer 31

The use of a mix of multiple forms of marketing communications devices such as print, web, social media

Question 32

# Define the following marketing term: Lifetime Value

Answer 32

The net present value of all future purchases eexpected from a customer

Question 33

# Define the following marketing term: Market Penetration

Answer 33

The percentage of customers in a given market who have purchased your product. Not the same as market share

Question 34

# Define the following marketing term: Market Segment

Answer 34

A subset of the total available market. Sized by SAM

Question 35

# Define the following marketing term: Market Share

Answer 35

The percentage of the market value gained by a company

Question 36

# Define the following marketing term: Marketing Channels

Answer 36

Any individual or company used in making the subject company's products and/or services available to its customers

Question 37

# Define the following marketing term: Marketing Plan

Answer 37

A plan that defines all aspects of the marketing strategy

Question 38

# Define the following marketing term: Media Kit

Answer 38

A package of information distributed by a media outlet to sell its advertising space

Question 39

# Define the following marketing term: Media Plan

Answer 39

A plan providing clear definitions of the types media, specific media vehicles and media scheduling

Question 40

# Define the following marketing term: Qualitative Research

Answer 40

Research that is subjective in nature and does not rely on statistical analysis

Question 41

# Define the following marketing term: Quantitative Research

Answer 41

Research based on collected objective data that can be subjected to statitstical analysis

Question 42

# Define the following marketing term: Quote

Answer 42

To provide information and pricing to a customer for a job or service.

Question 43

# Define the following marketing term: Rate Card

Answer 43

A list of the standard rates for a publication, radio station/network, television station/network, Web site or other advertising vehicle

Question 44

# Define the following marketing term: Salting

Answer 44

Placing names in a mail, telephone or e-mail list solely for the purpose of tracking the use of the list to ensure that the list purchaser or renter does not break the sales or rental contract

Question 45

# Define the following marketing term: SEO

Answer 45

Search Engine Optimization; the technique of understanding algorithms used in search and then using this information to boost your search ranking

Question 46

# Define the following marketing term: Up Selling

Answer 46

Selling a higher priced item(s) to an existing customer or a prospect who has already made a firm or mental commitment to buy another of your company's products and/or services

Question 47

# Define the following marketing term: Viral Marketing

Answer 47

A marketing technique whereby Web site visitors or e-mail recipients are encourage to pass along the company's marketing message to friends, colleagues and/or family, thereby creating exponential growth in the message's reach.

Question 48

# Define the following marketing term: White Paper

Answer 48

A document written in essay style that provides an in-depth discussion of an issue, technology, trend, product or process. White papers are predominantly informational rather than promotional.