BRAND n. a particular make of product - TO BRAND v. - BRANDED adj. I've tried lots of other brands of shampoo, but this one's still my favourite. CONSUMER n. the person who buys and uses a product or service - TO CONSUME v. Most consumers don't care where the products they buy come from.
Definition
As a business owner, it's important to have a strong understanding of marketing vocabulary. By understanding common terms and definitions, you'll be better equipped to develop and execute a successful marketing strategy.
Elements
Here are some key marketing terms to know:
Audience: The group of people you are targeting with your marketing efforts.
Branding: The process of creating a unique identity for your business. This includes everything from your company name and logo to your overall marketing message.
Competition: The businesses that offer similar products or services as you. It's important to understand your competition in order to develop a successful marketing strategy.
Positioning: The process of creating a unique selling proposition for your business. This helps you differentiate your business from your competition and attract your target audience.
Promotion: The various marketing activities you undertake to raise awareness of your business, products, or services. This can include everything from advertising to public relations.
Sales: The process of generating revenue by selling products or services.
Brand Identity — This is the message a brand wants to send to its customer. Perhaps you want your company to be seen as professional and exclusive. Or maybe you want it to be young and vibrant. Adjectives like these help to make a brand identity.
Visibility — The word visibility refers to something’s ability to be seen. Something that has good visibility is something that can be seen easily. When talking about a brand’s visibility it means the same thing. How often does your audience see your brand through your marketing activities? The more people see or hear about your brand, the more visibility it has.
Online Marketing Activities — Online marketing activities are any activities to increase visibility that happen through the Internet and through smartphone apps. This could include email campaigns, text messages and digital advertising.
Offline Marketing Activities — These are any marketing activities that do not happen on the Internet. This could include billboards, print ads, mailed newsletters, flyers, live demos and much more.
Marketing Campaign — This is a marketing message that you want your audience to remember. It is one single message that is sent by multiple different methods. You will spread this message through online and offline marketing activities. A company usually pushes a specific marketing campaign for a predetermined duration. However, if the marketing campaign is a huge success, they may continue to use it.
Conclusion
Understanding these key marketing terms will help you develop a successful marketing strategy for your business.
