Your Jargon busting guide to Marketing!

B2B – Business to Business


B2C – Business to Consumer


Marketing Mix – the 4 P’s
          Product – the item or service on sale
          Place – where the product or service is sold
          Promotion – marketing and selling the product or service
          Price – the amount the customer needs to pay for the desired product or service


Integrated Marketing – using one or more of the marketing tools together in a campaign e.g. sales promotions and direct marketing.  Also known as the communications mix


USP – your unique selling point e.g. what is special about your company?  Are you the only one that offers your service?


Sales – Sales are about making profits and money.   Sales and Marketing very much go hand in hand.  Marketing sets the scene and gets in leads and potential customers. 


Target Audience – the group or groups of people that you are aiming to sell your products and services to.


Profiling – looking into a person or a business and researching them in terms of their behaviour, their buying patterns, their history of purchases and so on.  Profiling involves building up a picture about a person.  This is also known as demographics


Marketing Plan – a plan of action for your marketing, over a fixed period of time.  The definition should be “essential” though


Branding – creating an identity for the product or service you are offering.  Branding aims to make you distinctive and to make you recognisable


Features and Benefits – this too are often seen as the same, but they are different.  A feature is an aspect of a product e.g. air conditioning.  A benefit is the change it will bring to the user e.g. they will be cooler when driving in the summer


Lead – this is a contact that you have found or been given that could turn into a customer or client


Networking – mingling and socialising with business contacts and associates to create awareness for your business and to find new customers


WOM – Word of Mouth e.g. this is all about getting people talking about you and creating a buzz.  It is also about referrals between contacts and potential customers


ROI – Return on Investment e.g. how many sales or profits were made as a result of your marketing efforts


Market Research – the gathering of information on specific subjects or markets.  The research can be either qualitative or quantitative


Editorial – this is a feature or an article that is printed in a newspaper


Advertorial – this is like an editorial piece, but it is more sales like to make it part advert and part article


Consultancy – the offering of advice and support from an outside/unbiased perspective

 

SEO – Search Engine Optimisation e.g. re wording and phrasing your website’s wording to make your website appear higher on the listings in search engines like Google, Yahoo etc.
Data Protection – the processes involved in storing personal information about a customer and their business.  It is also covers the need to keep data accurate and up to date

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About nicolepinpointmarketing

I am the owner of a successful marketing consultancy business, established in 2008 to work with, help and support local businesses. Pinpoint wants to advise small businesses on how to best market their products and services, using minimum budget, but making maximum impact!
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