UNITS 4,5,6 Flashcards
word-of-mouth
informal advertising by personal recommendation
upmarket
exclusive and usually expensive
USP
the feature or benefit of a particular product that makes it stand out from its competitors
telemarketing
selling goods and taking orders by telephone
tasting
a chance to try a new drink or food product
target market
the people that a company has as its main customers
survey
a study that aims to find out what people buy or might buy, usually by asking them questions
state-of-the-art
having the latest technology and design
sophisticated
highly developed
slogan
A phrase or sentence that attracts people’s attention and makes them remember a product
segment
a part of a market or social group
sample
a small amount or example of something that can be looked at or tried in order to see what is is like
sales pitch
the arguments used by a person who is trying to sell something
response rate
The percentage of people who reply to a survey
reputation
the opinion that people have about what a person or thing is like, based on what happened in past
questionnaire
a list of questions given as part of a survey
public relations
Activities that aim to promote the image of an organisation
prospective customer
someone who might decide to buy something
product range
the different products offered by a company
product line
a group of related products offered by a company
product life cycle
The stages a product goes through, from when it was first thought of until it is finally removed from the market
press release
an official statement issued to the media on a particular matter
phase out
to remove or stop using something gradually or in stages
niche
a specialised but profitable corner of the market (a specialized segment of the market for a particular kind of product or service.)
mystery shopper
a person employed to visit the shop in order to assess the quality of the goods
mission statement
a short written statement of the aims, purpose and future activities of an organisation
merchandise
goods to be bought and sold / products used to promote a film or a pop group or linked to a fictional character
marketing mix
the combination of factors that influence sales and can be controlled by a company, commonly known as the four PS - PRODUCT, PRICE, PLACE, PROMOTION
market share
a part of the market dominated by a particular company or product
market segmentation
Dividing possible customers according to their income, gender, age, class, etc.
market sector
a part of the market such as a particular industry or group of customers
market saturation
A situation where every prospective customer in the market already has the product, so there is little chance of creating new sales
market research
the activity of collecting and studying information about what people need, want and buy
loss leader
a product sold at a loss in order to attract customers
launch
introducing a new company or product to the public fo the first time
knock-down prices
very low prices, that have been greatly reduced for quick sales
jingle
a short tune with an advertising message designed to be easily remembered
hype
extensive or exaggerated use of publicity or promotion
guerilla marketing
an innovative way of marketing that aims to get maximum exposure as cheaply as possible
giveaway
something that is given free for promotional purposes
gimmick
an unusual or amusing trick or device intended to attract attention or customers
gap in the market
An area of business in which there are few or no competitors and where profits can be made
focus group
A small group of people who are asked, in market research, to discuss or give their opinions about a new product or advertisement
flop
a total failure
findings
Something that is discovered or learned as a result of research
field research
The collection of data not from existing research sources but by carrying out ones own surveys or experiments
feature
the special quality or characteristic of a product
fast-moving consumer goods (FMCG)
Goods that have a short shelf life, and are sold quickly and at relatively low cost. Some FMCG are perishable (fruit) and others are high turnover (soft drinks)
endorsement
a testimonial or public statement approving of something
end user
The person who actually uses a particular product or service
downmarket
related to the cheaper or less prestigious sector of the market
disposable income
Income left to spend after necessary payments have been made
direct mail
advertising that is sent directly to potential customers
differentiation
When a company shows, through its advertising, how its products are different from each other and from competing products
desk research
the collection of data from existing research
demand
a need for something
customer survey
An investigation into the opinions of a group of customers to find out if they are satisfied with existing products and what they expect from new products
customer
a person who buys a product or service
copywriter
A person who writes the text of advertisements or other publicity material
consumer durable
Manufactured goods that are expected to have a long life after purchase
consumer
a person who buys goods and services for his/her own use and not for resale
competitive advantage
something that help business to be better or more successful that the others
competition
an activity involving two or more businesses in which each tries to get people to buy its goods rather than those of the other firms
claim
A statement that a business makes about the nature or quality of its product that may or may nor be true
buzz marketing
creating interest in a new product by persuading interested users or websites to pass on the message about it to other people or websites (viral marketing technique focused on maximizing the word-of-mouth potential of a campaign or product)
break into a market
to start to operate in a particular area of business
brand stretching
using an established brand name on a new product
brand loyalty
the tendency for some consumers to continue buying the same brand of goods rather than competing brands
brand image
the associations a product creates in the minds of the public
billboard
a large sign used for advertising
bias
a preference for one thing over another, often considered to be unfair or unreasonable
benchmarking
Evaluating something by comparing it to industry standards and the best practices of other companies
banner ad
an advertisement in the form of a box
appeal
The quality that makes something attractive or interesting
advertising copy
the written material used in an advertisement
advertising campaign
a programme of activities aimed at increasing sales or the awareness of a product/service
advertisement
an announcement, picture or short film promoting a company, product, event or job vacany
