Marketing, Sales, and Growth Fundamentals

Vocabulary practice flashcards covering fundamental marketing, advertising, sales, and product-led growth terminology from the lecture notes.

Marketing

Deciding who to sell to, what to say, what to charge, and where to show up.

Advertising

Putting your message in front of your audience; a subset of marketing.

Sales

Converting a specific prospect into a paying customer; human driven (ads cannot close enterprise deals).

Growth

Building of acquisition and retention LOOPS into the product; powered by engineering/psychology.

Demand generation

Creating awareness of a problem people did not know they had.

Demand capture

Getting in front of people who are already searching for a solution; where search ads live.

Funnel

The staged path from awareness to paid customer.

Standard 5 funnel stages

Awareness, consideration, conversion, retention, and referral

Brand marketing

Building future memory and preference for your brand name (for example, Band-Aid vs generic plaster).

Performance marketing

Buying a measurable action now.

ICP (Ideal Customer Profile)

The company or person type that gets most value and churns least.

Buyer persona

A described individual inside the ICP.

B2B and B2C

Selling business2business and business2consumer.

B2B2C

Selling business2business2consumer.

PLG (Product Led Growth)

When the product itself acquires and converts users; so good it sells itself.

CAC / Cost of Aquiring Customer

Cost to acquire one paying customer start to finish.

LTV (LifeTimeValue)

Total gross profit from a customer over their life.

Churn

The rate at which customers leave.

Share of voice

Your share of category advertising; a leading indicator of your share of market.

Share of market

Your share of category revenue (also sometimes referred to as SOM).

Mental availability

How readily a buyer thinks of you at the buying moment.

Category entry point

The situation that triggers a purchase / the problem-to-solution pipeline you want to be linked to in consumers' memory.

SOM (Serviceable Obtainable Market)

The realistic share of the SAM that you can capture in the near term

SAM / Serviceable Addressable Market

The portion of the Total Addressable Market (TAM) that fits your specific product

TAM / Total Addressable Market

total revenue opportunity available for your product, in the entire market. It represents the maximum potential for sales and growth if you achieved 100% market share.