Industry WIKI

Product marketing is a "core business function that plans and executes how a product is positioned, priced, and promoted to a defined audience. It aims to generate demand and support sustainable growth through activities such as positioning, packaging, and pricing, and go-to-market execution," as stated by A.H. Mujumder.

A product requirements document (PRD) is a document containing all the requirements for a certain product.

The Profit Impact of Market Strategy (PIMS) program is an empirical research initiative that analyzes the relationship between business strategy and performance outcomes. Launched at General Electric in the 1960s, the program maintains a database of 4,300 Strategic Business Units ("SBU") across multiple industries and geographies, yielding 12,600 observations (3-year snapshots) and over

In marketing, promotion refers to any type of marketing communication used to inform target audiences of the relative merits of a product, service, brand or issue, persuasively. It helps marketers to create a distinctive place in customers' mind, it can be either a cognitive or emotional route. The aim of promotion is to increase brand awareness, create interest, generate sales or create

In marketing, the promotional mix describes a blend of promotional variables chosen by marketers to help a firm reach its goals. It has been identified as a subset of the marketing mix. It is believed that there is an optimal way of allocating budgets for the different elements within the promotional mix to achieve best marketing results, and the challenge for marketers is to find the ri

In marketing, publicity is the public visibility or awareness for any product, service, person or organization. It may also refer to the movement of information from its source to the general public, often (but not always) via the media. The subjects of publicity include people of public recognition, goods and services, organizations, and works of art or entertainment.

Real-time marketing is marketing performed "on-the-fly" to determine an appropriate or optimal approach to a particular customer at a particular time and place. It is a form of market research inbound marketing that seeks the most appropriate offer for a given customer sales opportunity, reversing the traditional outbound marketing (or interruption marketing) which aims to acquire approp

Relationship marketing is a form of marketing developed from direct response marketing campaigns that emphasizes customer retention and satisfaction rather than sales transactions. It differentiates from other forms of marketing in that it recognises the long-term value of customer relationships and extends communication beyond intrusive advertising and sales promotional messages.

Once the strategic plan is in place, retail managers turn to the more managerial aspects of planning. A retail mix is devised for the purpose of coordinating day-to-day tactical decisions. The retail marketing mix typically consists of six broad decision layers including product decisions, place decisions, promotion, price, personnel and presentation (also known as physical evidence). Th

Return on marketing investment (ROMI), or marketing return on investment (MROI), is the contribution to profit attributable to marketing (net of marketing spending), divided by the marketing 'invested' or risked. ROMI is not like the other 'return-on-investment' (ROI) metrics because marketing is not the same kind of investment. Instead of money that is 'tied' up in plants and inventorie

Revenge buying (also known as revenge shopping or revenge spending) refers to a sudden surge in the purchase of consumer goods after people are denied the opportunity to shop for extended periods of time. The revenge buying mechanism is thought to have evolved as a reaction to the frustration and psychological discomfort caused by restrictions in the freedom of movement and commerce. Unl

Revenue management (RM) is a discipline that aims to maximize profit primarily by adjusting pricing and managing occupancy. The strategy is used in hotel management, selling event tickets and airfare, retail promotions, software licensing, and other industries. It is seen by some as synonymous with yield management.

Rideshare advertising is a form of digital, out-of-home advertising that uses in-car advertisements in ridesharing vehicles.

Services marketing is a specialized branch of marketing which emerged as a separate field of study in the early 1980s, following the recognition that the unique characteristics of services required different strategies compared with the marketing of physical goods.

SERVQUAL is a research tool that measures customer perception of service quality by comparing what customers expect from a service to their assessment of the service actually delivered. The instrument was developed in the United States in the mid-1980s by researchers A. Parasuraman, Valarie Zeithaml, and Leonard L. Berry, and is designed for use in after-service evaluation processes. It

Social marketing is a marketing approach which focuses on influencing behavior with the primary goal of achieving the common good. It utilizes the elements of commercial marketing and applies them to social issues. However, to see social marketing as only the use of standard commercial marketing practices to achieve non-commercial goals is an oversimplified view. Social marketing has ex

Social marketing intelligence is the method of extrapolating valuable information from social network interactions and data flows that can enable companies to launch new products and services into the market at greater speed and lower cost. This is an area of research however, companies using social marketing intelligence have achieved significant improvement in marketing campaigns.

Social selling is the process of developing relationships as part of the sales process. Today this often takes place via social networks such as LinkedIn, Twitter, Facebook, and Pinterest, but can take place either online or offline. Examples of social selling techniques include sharing relevant content, interacting directly with potential buyers and customers, personal branding, and soc

The terms special edition (SE) and limited edition (LE), and variants such as deluxe edition, collector's edition, expanded edition, or nth anniversary edition, are used as a marketing incentive for various kinds of products. The concept originated with published works related to the arts, such as books, prints, music, films, and video games, but now includes clothing, cars, alcohol, fas

The target audience is the intended audience or readership of a publication, advertisement, or other message catered specifically to the previously intended audience. In marketing and advertising, the target audience is a particular group of consumer within the predetermined target market, identified as the targets or recipients for a particular advertisement or message.

Targeted advertising or data-driven marketing is a form of advertising, including online advertising, that is directed towards an audience with certain traits, based on the product or person the advertiser is promoting.

A test market, in the field of business and marketing, is a geographic region or demographic group used to gauge the viability of a product or service in the mass market prior to a wide scale rollout. The criteria used to judge the acceptability of a test market region or group include:

In marketing, a touchpoint describes any instance where a consumer interacts with an organisation's brand or image. This can include traditional advertising or company-owned resources such as a website, public exposure, and personal recommendations.

Trickle-down fashion is a model of product adoption in marketing that affects many consumer goods and services.

An underwriting spot, also known as sponsor credit, is an announcement made on public broadcasting outlets, especially in the United States, in exchange for funding. These spots usually mention the name of the sponsor, and can resemble traditional television advertisements in commercial broadcasting to a limited extent; however, under the terms of a public broadcaster's license from the

Value in marketing, also known as customer-perceived value, is the difference between a prospective customer's evaluation of the benefits and costs of one product when compared with others. Value may also be expressed as a straightforward relationship between perceived benefits and perceived costs: Value = Benefits - Cost.

In economics, vendor lock-in, also known as proprietary lock-in or customer lock‑in, makes a customer dependent on a vendor for products, unable to use another vendor without substantial switching costs.

In microeconomics, management and international political economy, vertical integration, also referred to as vertical consolidation, is an arrangement in which the supply chain of a company is integrated and owned by that company. Usually each member of the supply chain produces a different product or (market-specific) service, and the products combine to satisfy a common need. It contra

Word-of-mouth marketing (WOMM, WOM marketing, also called word-of-mouth advertising) is the communication between consumers about a product, service, or company in which the sources are considered independent of direct commercial influence that has been actively influenced or encouraged as a marketing effort (e.g. 'seeding' a message in a network rewarding regular consumers to engage in

In the marketing and advertising industry, youth marketing consists of activities to communicate with young people, typically in the age range of 11 to 35. More specifically, there is teen marketing, targeting people age 11 to 17; college marketing, targeting college-age consumers, typically ages 18 to 24; and young adult marketing, targeting ages 25 to 34.