Reading # Concepts

PT 1 Marketing Strategy

1 Pull Strategy a marketing strategy that sees companies take its products to its
consumers
2 Push Strategy a marketing strategy that sees companies take its products to its
consumers
3 Coolhunting make observations and predictions in changes of new or existing
"cool" cultural fads and trends. Coolhunting is also referred to as
"trend spotting," and is a subset of trend analysis.

4 Upstream Collaborators The upstream supply chain includes all activities related to the
organization’s suppliers: those parties that source raw material
inputs to send to the manufacturer.
5 Price Sensitivity Price sensitivity is the degree to which demand changes when the
cost of a product or service changes.
6 Product Line Breadth The breadth of the product line refers to the different categories
of products in which the brand or company offers products
7 Communication Vehicles Communication channels, vehicles, and media can be broadly
defined as the means through which a message is to be delivered
or transmitted to the target audience, recipients and interactors.
8 Continuity Program A continuity program is a company's sales offer where a
buyer/consumer is agreeing to receive merchandise or services
automatically at regular intervals (often monthly), without
advance notice, until they cancel.
9 Core Competency A core competency refers to a company's set of skills or
experience in some activity, rather than physical or financial
assets. An organizational core competency is an organization's
strategic strength.
PT 2 Segmentation, Targeting, Positioning
A product delivery approach utilizing flexible, computer-aided manufacturing systems. Each
customer can select and customize the product’s final features to his or her individual
10 Mass Customization vs. Mass Production preferences vs designing the same product for everyone.

11 Behavioral Variables the division of a market into groups according to their knowledge
of, and behaviour towards, a particular product.
12 STP In STP marketing, marketers segment their audience, assess
which segment to target, and then position their messaging to
appeal to this segment.
13 Customer Value Proposition It refers to a simple statement that communicates, in a few
words, why a customer would want to choose your product or
service over your competitors.
PT 3 Brand Positioning

14 Gender-bending Strategy Marketeers are looking at how their brands could target the
opposite sex. its called gender bending.
15 Irrelevant Attributes Attributes that are not valuable but are distinguishable.
16 Perceptual Map A perceptual map is a chart used by market researchers and
businesses to depict and understand how target customers view
and feel about a given brand or product.
17 Brand Positioning Brand positioning can be defined as the space a company owns in
the mind of a customer and how it differentiates itself from
 competitors.
Value Claims --> Features, Benefits, Values It aims at establishing whether the item being discussed is either
18 good or bad,valuable or not valuable and desirable and not
desirable
19 Consumer Hyperchoice occurs when the sheer amount of options a buyer has causes
them to become frustrated, lengthening the research process
and/or abandoning the purchase altogether
"There is no such thing as a commodity Anything can be differentiated, which is precisely the marketer’s
20 product." job.
21 Points of Parity vs Points of Difference points of parity are the bare minimum for competitive businesses.
If you want to be competitive, your company needs to have all the
points of parity covered. Points of difference, also known as
points of differentiation is what you need to determine once the
points of parity have been covered

T4 Product Policy

22 Brand Equity marketing term that describes a brand's value. That value is
determined by consumer perception of and experiences with the
brand
23 Cannibalization a loss in sales caused by a company's introduction of a new
product that displaces one of its own older products.
24 Product Line Extension is a marketing strategy that uses an existing brand to introduce a
new item into the same product line.
25 Expected vs Augmented Product The augment product is A commodity that has both the primary
physical attributes and the non-physical attributes that are added
to increase the product's value. while the potential product is the
complete package that the customer receives by purchasing the
item/service

26 Conformance vs Performance Quality Performance quality measures to what extent a product or

service meets the expectations of the customer. Conformance
quality measures if processes are carried out the way they were
intended to be carried out.
27 Share of Customer (Share of Wallet) how much of a customer's expenses for a category of product or
service goes to a particular company.
28 PLC Curve for Fashion, Fad and Classic Fashion product life cycles last a shorter time than basic product life
cycles. The fad has the shortest life cycle. It is typically a style that is
adopted by a particular sub-culture or younger demographic group
for a short period of time.

29 Co-Branding Co-branding is a marketing strategy that utilizes multiple brand

names on a good or service as part of a strategic alliance.

PT5 Pricing Strategy

30 Markup vs Margin Margin is equal to sales minus the cost of goods sold (COGS).
Markup is equal to a product's selling price minus its cost price
31 Perceived Value vs. Product Price Product pricing is the process of determining the quantitative
value of a product based on both internal and external factors.
Perceived value pricing is not based on the cost of the product,
but it is the value which the customer thinks that he/she is
deriving from consuming a product or a service
 Market Skimming vs Market Penetration Price skimming sets prices higher to attract customers most
32 Pricing interested in the product or service to maximize short-term
profits. Penetration pricing uses lower prices to build a customer
base for new products or services.
33 Captive Product Pricing is the pricing of products that have both a main product and
several secondary or accessory products that are needed for the
main product to offer full value.

34 Psychological Pricing is a pricing strategy that takes advantage of the way people
perceive prices..

35 Price ceiling vs price flooring A price ceiling keeps a price from rising above a certain level (the
“ceiling”), while a price floor keeps a price from falling below a
certain level (the “floor”).
36 Customer Lifetime Value/Customer Equity the total value a customer brings to a business over the lifetime
of their relationship with your company
37 Cost Based vs Value Based Pricing Cost-based pricing can be described as a strategy to determine
the selling prices of a company's products based on their
production costs, while value-based pricing is a strategy of setting
prices of a product or service based on its value perceived by
customers.
38 Price Elasticity of Demand Price elasticity of demand is the ratio of the percentage change in
quantity demanded of a product to the percentage change in
price.
Pure Competition vs Monopolistic In a monopolistic market, there is only one firm that dictates the
39 Competition price and supply levels of goods and services. A perfectly
competitive market is composed of many firms, where no one
firm has market control. In the real world, no market is purely
monopolistic or perfectly competitive.
40 Pricing Thermometer It assumes that perceived value typically falls below true
economic value.
41 Product Bundle Pricing a marketing strategy in which two or more products are
combined to be offered at a lower price than if the same products
were sold separately.
42 By-Product Pricing is a pricing strategy in which a secondary, by product has
significant value and the manufacturer achieves an advantage by
recovering some of its expenses by selling the by product.
PT 6 Marketing Communications

43 Customer Engagement Customer engagement is an interaction between an external

consumer/customer and an organization through various online
or offline channels

44 Impressions vs Reach Reach is the total number of people who see your content.
Impressions are the number of times your content is displayed, no
matter if it was clicked or not.
45 Brand Communities A brand community is a collection of individuals who showcase
brand loyalty by being emotionally invested in the brand.
46 Corporate Social Responsibility is a business model that helps a company be socially accountable
to itself, its stakeholders, and the public.
47 Brand Activation Brand Activation is marketing that both builds a brand's image
 and drives a specific consumer action through one or more of six
identifiable disciplines.
48 Influencer Marketing Influencer marketing is a form of marketing that enables
businesses to collaborate with individuals who have a following
for increased brand exposure.
49 PR vs Advertising Advertising is a marketing tool that lets you communicate with
potential customers about your products or services through paid
channels. Public relations is a strategic communication process
that builds mutually beneficial relationships between
organizations and their publics.
50 ATL vs BTL Above The Line, meaning that the advertising is going to be
deployed around a wider target audience, Below The Line,
suggests that the advertising is going to target a specific group of
potential consumers.

51 Integrated Marketing Communications a planning process designed to assure that all brand contacts
received by a customer or prospect for a product, service, or
organization are relevant to that person and consistent over time.
52 Product Placement Product placement is a form of advertising in which branded
goods and services are featured in a production that targets a
large audience.

PT 7 Channels of Distribution
Integrated vs Arm’s Length Distribution Integrated Distribution Management is an approach to the
53 Network distribution mission of the firm whereby two or more of the func-
tions involved in moving goods from source to user are integrated
and viewed as an interrelated system or sub-system for purposes
of managerial planning, imple- mentation and control
54 Channel Conflict Channel conflict is a situation in which channel partners have to
compete against one another or a vendor's internal sales
department.
Retailer sells directly to consumers while wholesaler sells in bulk to an intermediary, usually a
55 Retailer vs Wholesaler retailer.

56 Hard Power of Channels Brands need persuasion, preference shaping, appeal and the brute
force of hard power through corporate deals

57 Intensive vs. Exclusive Channel Coverage An intensive distribution strategy involves selling a product in as
many outlets as possible. Selective distribution involves selling a
product at select outlets in specific locations.
Exclusive distribution involves selling a product through one or
very few outlets.
58 Direct vs Indirect Channels A direct distribution channel allows consumers to buy and receive
goods directly from the manufacturer. An indirect channel moves
products from the manufacturer through various intermediaries
for delivery to the consumer
PT 8 Digital Marketing

59 Search Engine Marketing is a form of Internet marketing that involves the promotion of
websites by increasing their visibility in search engine results
pages (SERPs) primarily through paid advertising
60 Paid vs. Owned Media Paid media is content you pay to place in front of an audience as
 an ad or sponsorship, while owned and earned are free. Owned
media is content you create and control
61 Native Advertising Native advertising is paid media designed to match the content of
a media source.
62 Retargeting Ads Retargeting campaigns remind your website visitors of your
products and services after they leave your website without
buying
63 ROI Return on investment (ROI) is calculated by dividing the profit
earned on an investment by the cost of that investment.
64 Extrinsic Motivation defined as a motivation to participate in an activity based on
meeting an external goal, garnering praise and approval, winning a
competition, or receiving an award or payment
65 Social Media Listening Social listening is the practice of monitoring social media channels
for mentions of your brand, competitor brands, and related
keywords
66 Viral Marketing Viral marketing is a style of promotion that relies on an audience
to generate the message of a product or service.
67 Micro-Moments Micro-moments occur when people reflexively turn to a mobile
device to explore, discover, research, and buy. They are high-
intent moments when preferences are shaped and decisions are
made
68 Search Engine Optimization Search engine optimization is the process of improving the quality
and quantity of website traffic to a website or a web page from
search engines
69 Click Through Rate vs Conversion Rate A click-through rate (CTR) is a metric, shown as a percentage, that
measures how many people clicked your ad to visit a website or
landing page. A Conversion rate is a metric, shown as a
percentage, that displays how many website or app visitors
complete an action out of the total number of visitor

70 Reach vs Impressions Reach is the total number of people who see your content.
Impressions are the number of times your content is displayed, no
matter if it was clicked or not