Promotion vocabulary Flashcards
Advertising
A paid, non-personal message communicated through mass media
Corporate social responsibility
When businesses consider shareholders, society and the environment when making business/economic decisions
Ethics
Set of principles detailing what is morally ‘right’ and what is ‘wrong’
Market segmentation
When the total market is subdivided into groups that share 1 or more common characteristic
Opinion leader
A person who influences others
Personal selling
When a sales representative is directed to a customer to make a sale
Primary target market
The marketing segment that receives the most marketing resources
Product differentiation
When products that are similar/the same are made to appear different/better that competitors
Product placement
Inclusion of advertising in entertainment eg: social media, movies
Promotion
Methods used by a business to inform, persuade/remind customers of its products
Promotion mix
The various use of different promotion strategies in its campaigns
Publicity
Any free news story about a business and its products
Public relations
Activities to create/maintain a good relationship between a business and its customers
Relationship marketing
Development of long-term relationships with individual customers
Sales promotions
Use of activities/materials as direct inducements to customers
