Topic 7 key words

Question 1

Advertising Standards Authority (ASA)

Answer 1

The UK’s independent regulator of advertising across all media.

Question 2

Brand awareness

Answer 2

Recognition of a brand’s products and qualities by current and potential customers.

Question 3

Economic climate

Answer 3

The state of the economy at a given time – in a good economic climate people are more inclined to spend money and invest; in a poor climate they are less likely to do so.

Question 4

Gross domestic
product (GDP)

Answer 4

The total value of goods produced and services provided in a country
during one year.

Question 5

Market
segmentation

Answer 5

Splitting up the whole market into smaller segments within which customers share particular features, eg income, age, lifestyle.

Question 6

Mass market

Answer 6

A broad consumer group that includes a wide range of customers with different age, gender and income profiles