Industry WIKI

Account-based marketing (ABM), also known as key account marketing, is a business-to-business (B2B) marketing strategy in which companies focus resources on a defined set of high-value accounts, treating each as a distinct market rather than pursuing broad-based outreach.

Account-based selling, also known as account-based sales and hyper-segmented sales, is a strategic sales model in which the sale of goods or services is carried out to narrow segments of the target audience or specific decision makers. In a typical ABS concept, the selling company forms a target audience, then divides it into narrow segments to offline selling.

An advertising campaign or marketing campaign is a series of advertisement messages that share a single idea and theme which make up an integrated marketing communication (IMC). An IMC is a platform in which a group of people can group their ideas, beliefs, and concepts into one large media base. Advertising campaigns utilize diverse media channels over a particular time frame and target

Affinity marketing is a concept that consists of a partnership between a company (supplier) and an organization that gathers persons sharing the same interests to bring a greater consumer base to their service, product or opinion. This partnership is known as an affinity group.

Agile marketing, often termed marketing agility or international marketing agility, comprises sensemaking, speed, iteration, and marketing decisions; marketing decisions are performed in an agile manner, using principles from the Manifesto for Agile Software Development. Marketing Agility was named a research priority for 2020-2022 by the Marketing Science Institute.

All-commodity volume or ACV represents the total annual sales volume of retailers that can be aggregated from individual store-level up to larger geographical sets. This measure is a ratio, and so is typically measured as a percentage (or on a scale from 0 to 100).

Analytics is the systematic computational analysis of data or statistics. It is used for the discovery, interpretation, and communication of meaningful patterns in data, which also falls under and directly relates to the umbrella term, data science. Analytics also entails applying data patterns toward effective decision-making. It can be valuable in areas rich with recorded information;

An aspirational brand is a term in consumer marketing for a brand or product which a large segment of its exposure audience wishes to own, but for economic reasons cannot. Because the desire for aspirational goods is relative to the consumer's purchasing power, an aspirational brand may be a luxury good if the person desires it, or it may simply be any product whether luxury or not if a

In marketing, Bayesian inference allows for decision making and market research evaluation under uncertainty and with limited data. The communication between marketer and market can be seen as a form of Bayesian persuasion.

Brand extension or brand stretching is a marketing strategy in which a firm marketing a product with a well-developed image uses the same brand name in a different product category. The new product is called a spin-off.

In marketing, brand implementation refers to the physical representation and consistent application of brand identity across visual and verbal media. In visual terms, this can include signage, uniforms, liveries, interior design and branded merchandise. Brand implementation encompasses facets of architecture, product design, industrial design, quantity surveying, engineering, procurement

Call to action (CTA) is a marketing term for any text designed to prompt an immediate response or encourage an immediate sale. A CTA most often refers to the use of words or phrases that can be incorporated into sales scripts, advertising messages, or web pages, which compel an audience to act in a specific way.

Co-creation, in the context of a business, refers to a collaborative product or service design process in which consumers directly participate in ideation, development, and value creation. Unlike passive customer feedback mechanisms such as surveys or post-launch reviews, active co-creation involves continuous, direct customer collaboration throughout the design and development lifecycle

Co-marketing (Commensal marketing, symbiotic marketing) is a form of marketing co-operation, in which two or more businesses work together.

Commercialization or commercialisation is the process of introducing a new product, service or production method into commerce—making it available on the market. The term often connotes especially entry into the mass market (as opposed to entry into earlier niche markets), but it also includes a move from the laboratory into (even limited) commerce. Many technologies begin in a research

Community marketing is a strategy to engage an audience in an active, non-intrusive prospect and customer conversation. Whereas marketing communication strategies such as advertising, promotion, PR, and sales all focus on attaining customers, Community Marketing focuses on the needs of existing customers. This accomplishes four things for a business:

In economics, competition is a scenario where different economic firms are in contention to obtain goods that are limited by varying the elements of the marketing mix: price, product, promotion and place. In classical economic thought, competition causes commercial firms to develop new products, services and technologies, which would give consumers greater selection and better products.

Concept testing (to be distinguished from pre-test markets and test markets which may be used at a later stage of product development research) is the process of using surveys (and sometimes qualitative methods) to evaluate consumer acceptance of a new product idea prior to the introduction of a product to the market. It is important not to confuse concept testing with advertising testin

Consumer confusion is a state of mind that leads to consumers making imperfect purchasing decisions or lacking confidence in the correctness of their purchasing decisions.

Copy testing is a specialized field of marketing research that determines an advertisement's effectiveness based on consumer responses, feedback, and behavior. Also referred to as pre-testing, it might address all media channels including television, print, radio, outdoor signage, internet, and social media. Research has also examined how copy testing can be incorporated into the selecti

Cross merchandising is the retail practice of marketing or displaying products from different categories together, in order to generate additional revenue for the store, sometimes also known as add-on sales, incremental purchase or secondary product placement. Its main objective is to link different products that complement each other or can logically be used in association. This strateg

Cross-media marketing is a form of cross-promotion in which promotional companies commit to surpassing traditional advertisement techniques and decide to include extra appeals to the products they offer. The material can be communicated by any mass media such as e-mails, letters, web pages, social media or other recruiting sources. This method can be extremely successful for publishers b

A Customer Advisory Council (also referred to as a Customer Advisory Board or CAB) is a form of market research whereby a group of existing customers is convened on a regular basis to advise company management on industry trends, business priorities, and strategic direction. The CAB differs from traditional focus groups in the following ways:

Customer advocacy is a specialized form of customer service in which companies focus on what is deemed to be best for the customer. It is a change in a company's culture that is supported by customer-focused customer service and marketing techniques.

In marketing, customer lifetime value (CLV or often CLTV), lifetime customer value (LCV), or life-time value (LTV) is an estimation and prediction of the net profit that a customer contributes to during the entire future relationship with a business. The prediction model can have varying levels of sophistication and accuracy, ranging from a crude heuristic to the use of complex predictiv

In business, a demand chain is the understanding and management of customer demand, in contrast to a supply chain. P. M. Madhani (2019) suggests that the demand chain "comprises all the demand processes necessary to understand, create, and stimulate customer demand". Cranfield School of Management academic Martin Christopher has suggested that "ideally the supply chain should become a de

Drip marketing is a communication strategy that sends, or "drips", a pre-written set of messages to customers or prospects over time. These messages often take the form of email marketing, although other media can also be used. Drip marketing is distinct from other database marketing in two ways: (1) the timing of the messages follows a predetermined course; (2) the messages are dripped

Ethical marketing refers to the application of marketing ethics into the marketing process. Briefly, marketing ethics refers to the philosophical examination, from a moral standpoint, of particular marketing issues that are matters of moral judgment. Ethical marketing generally results in a more socially responsible and culturally sensitive business community.

Evangelism marketing is an advanced form of word-of-mouth marketing in which companies develop customers who believe so strongly in a particular product or service that they freely try to convince others to buy and use it. The customers become voluntary advocates, actively spreading the word on behalf of the company.

In marketing and advertising, frequency refers to the number of times a target audience is exposed to a particular message or advertisement within a given time frame. This concept is a fundamental element of marketing communication strategies, aiming to enhance brand recall, create awareness, and influence consumer behavior through repeated exposure.

Hype in marketing is a strategy of using extreme publicity. Hype as a modern marketing strategy is closely associated with social media.

LGBTQ marketing is the act of marketing to LGBTQ customers, either with dedicated ads or general ads, or through sponsorships of LGBTQ organizations and events, or the targeted use of any other element of the marketing mix.

Marketing activation is the execution of the marketing mix as part of the marketing process. The activation phase typically comes after the planning phase during which managers plan their marketing activities and is followed by a feedback phase in which results are evaluated with marketing analytics.

Marketing automation refers to software platforms and technologies that marketing departments and organizations use to automate repetitive tasks and to run campaigns across channels such as email, SMS, chatbots, and social media, including tracking, web analytics, lead scoring, campaign management, and reporting. It often integrates with customer relationship management (CRM) and custome

Marketing effectiveness is the measure of how effective a given marketer's go to market strategy is toward meeting the goal of maximizing their spending to achieve positive results in both the short- and long-term.

Marketing engineering is currently defined as "a systematic approach to harness data and knowledge to drive effective marketing decision making and implementation through a technology-enabled and model-supported decision process".

The marketing mix (4 Ps) is the set of controllable elements or variables that a company uses to influence and meet the needs of its target customers in the most effective and efficient way possible. These elements are sometimes sorted into the categories of product, price, place, and promotion (also known as the "4 Ps"). The marketing mix has been defined as the "set of marketing tools

Marketing mix modeling (MMM) is a statistical causal inference and forecasting methodology used to estimate the impact of various marketing tactics on product sales. MMMs use statistical models, such as multivariate regressions, and use sales and marketing time-series data. They are often used to optimize advertising mix and promotional tactics with respect to sales, revenue, or profit t

Marketing myopia is the tendency of businesses to define their market so narrowly as to miss opportunities for growth. It is suggested that businesses will do better in the long-term if they concentrate on improving the utility of a product or good, rather than just trying to sell their products.

A marketing plan is a strategic document developed to achieve specific marketing objectives. It outlines a company's advertising and promotional activities for a defined period, describes the organization's current marketing position, and identifies the target market and marketing mix that will be used to achieve stated goals.

The term Marketing research mix (or the "MR Mix") was created in 2004 and published in 2007 (Bradley - see references). It was designed as a framework to assist researchers to design or evaluate marketing research studies. The name was deliberately chosen to be similar to the Marketing Mix - it also has four Ps. Unlike the marketing mix these elements are sequential and they match the m

Most valuable customers is a marketing term referring to the customers who are the most profitable for a company. These customers buy more or higher-value products as the average customer. The company provide these customers with advice and guidance to establish a more personal relationship.

On-hold messaging is a service used by businesses and organizations to deliver information to their callers waiting on hold or while they are being transferred. Also called audio marketing, on-hold messaging is a specialist area of marketing and branding.

In marketing, positioning is the mental perception of a product or brand by customers. Brand and product positioning methods include product differentiation, advertising, market segmentation, and business models such as the marketing mix.

In response to shifts in consumer behavior and conditions brought on by postmodernism, many companies changed their marketing approach to address and create more nimble, immersive experience and customer engagements. Postmodern branding are practices of personifying a brand based on a core set of traits. Postmodern branding behaviors understand and leverage technology, space, and mindset

Postmodern marketing is a term derived from postmodern philosophical movements where there are cultural tendencies of inherent suspicion towards a global cultural narrative or meta-narrative. Postmodern marketing takes this same philosophical perspective and applies it to the way advertising initiatives are handled in the current post-World War II era. Postmodern marketing is approachi

Precision marketing is a marketing technique that suggests successful marketing is to retain, cross-sell, and upsell existing customers.

Presales is a process or a set of activities/sales normally carried out before a customer is acquired, though sometimes presales also extends into the period the product or service is delivered to the customer.

In marketing, product category volume (PCV) is the weighted measure of distribution based on store sales within the product category. PCV is a refinement of all commodity volume (ACV). It examines the share of the relevant product category sold by stores in which a given product has gained distribution.

In marketing jargon, product lining refers to the offering of several related products for individual sale. Unlike product bundling, where several products are combined into one group, which is then offered for sale as a units, product lining involves offering the products for sale separately. A line can comprise related products of various sizes, types, colors, qualities, or prices. Li

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, 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

Psychological pricing (also price ending or charm pricing) is a pricing and marketing strategy based on the theory that certain prices have a psychological impact. In this pricing method, retail prices are often expressed as just-below numbers: numbers that are just a little less than a round number, e.g. $19.99 or £2.98. There is evidence that consumers tend to perceive just-below price

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

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

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

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

In strategic management, situation analysis refers to a collection of methods that managers use to analyze an organization's internal and external environment to understand the organization's capabilities, customers, and business environment. The situation analysis can include several methods of analysis such as the 5C analysis, SWOT analysis and Porter's five forces analysis.

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 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.

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:

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.