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