Chapter 3: Marketing

Softening a direct statement by adding a personal qualifier or tentative expression (e.g. in my opinion, I think)

hedging

Benadrukken

to emphasize

A business strategy that starts with customers’ wants and needs

customer-driven

A business strategy that focuses mainly on the product itself

product-driven

To satisfy what customers want or need

to meet customer needs

Managing an organisation’s relationship and image with the public

public relations (PR)

The total sales or income a business generates over a period

turnover

To be more successful or innovative than rival businesses

to be ahead of the competition

A Belgian chocolate company sells its chocolate in Japan. What kind of market is this?

overseas market

A company sells its products within Belgium, such as cars to Belgian customers. What kind of market is this?

country market

The economy is growing in India, and more people are buying cars. What kind of market is this?

developing market

Teenagers could become customers for a new gaming app. What kind of market are they?

potential market

A company sells office furniture to other companies. What kind of market is this?

business market

This company sells more smartphones than any other company in its market. What is it called?

market leader

A company asks customers which flavour they prefer before launching a new product. What is this research called?

market survey

A company makes 30% of all sales in a particular market. What is this percentage called?

market share

Contact or visit customers, often to sell or discuss products

to call on customers

To make information known publicly

to announce

A discussion to reach an agreement

negotiation

A global network used to communicate and find information

internet

Contact made after an earlier meeting, sale or message

follow-up

To discuss a price or terms to reach an agreement; onderhandelen

to bargain

Channels used to communicate information to an audience

media

A special deal or price offered for a limited time

special offer

Reductions in the usual price

discounts

Free product samples given to customers to try

free samples

Vouchers that allow customers to get a discount

coupons

Large outdoor advertising boards

billboards

Long signs displaying a message or advertisement

banners

To provide support for an event in exchange for publicity

to sponsor

To show or present a product or information

to display

A planned series of activities to achieve a goal

campaign

Short advertisements on television, radio or online

commercials

An official written statement sent to the media

press release

An event where an organisation gives information to journalists

press conference

The general opinion people have of a company or person

reputation

To publicly support or recommend a product or brand

to endorse

Which words belong to SALES? Give all six.

to call on customers; to announce; negotiation; internet; follow-up; to bargain

Which words belong to PROMOTION?

media; to announce; special offer; discounts; free samples; coupons

Which words belong to ADVERTISING?

media; to announce; billboards; banners; to sponsor; to display; campaign; internet; commercials

Which words belong to PR (public relations)?

media; to sponsor; press release; press conference; to endorse; reputation

A public or official statement announcing something

announcement

The company made an _____ about its new product.

announcement

A deal or agreement, often involving a good price

bargain

These shoes were half price, so they were a real _____.

bargain

Financial or other support given to an event or organisation

sponsorship

The sports club received _____ from a local company.

sponsorship

Items or presentations used to show products or information

displays

The shop window has attractive product _____.

displays

Public statements of support or approval

endorsements

Celebrity _____ can make a product more popular.

endorsements

Give an example of storytelling that works well and explain why.

Nike: its storytelling inspires people to overcome difficulties and never give up.

Humorous images, videos or posts shared online

memes

Repeated aggressive behaviour intended to hurt or intimidate someone

bullying

A story or the way a story is told

narrative

To change something so it gives a misleading impression

to distort

Making fun of yourself

self-deprecation

Extremely silly or unreasonable

ludicrous

A large number of people gathered together

horde

Excitement or attention surrounding something

buzz

Produces or causes a feeling or reaction

engenders

Limits or restricts; keeps within boundaries

confines

Able to last a long time or withstand use

durable

To make use of something to achieve a result

to harness

The rules _____ what employees are allowed to do.

confine

A _____ of fans gathered outside the stadium.

horde

His _____ made the mistake seem less embarrassing because he joked about himself.

self-deprecation

The new campaign created a lot of _____ online.

buzz

Funny internet _____ are often shared quickly.

memes

The film’s _____ follows a young person who overcomes challenges.

narrative

It would be _____ to expect everyone to agree on everything.

ludicrous

Finance industry professionals tested students’ reactions to narratives that personify balls and shapes.

False

Humans attach narratives to situations, even when they are abstract and unrelated to a story.

True

Memes accurately represent reality and are therefore used as learning tools across industries.

False

Memes often focus on popular culture and are easy to understand and share.

True

Share prices are hard to influence with memes, but banks have used memes to attract new customers.

False

Cinema chain AMC and retailer GameStop saw a huge drop in shares after sharing memes on social media.

False

Approximately half of investors use social media engagement as an indicator for choosing shares.

True

Shorter content can help people understand longer content and complex industries.

True

Memes can engage people with finance even if they work in another industry.

True

Social media has little influence on people’s lives and decisions, so memes are unlikely to remain useful.

False

Digital currencies that use cryptography

cryptocurrencies

A group of businesses that sell goods directly to consumers

retail group

Articles that express an author’s opinion

opinion pieces

Documents published by banks with financial information or analysis

bank reports

A group that gives advice or recommendations

advisory group

Online platforms where people create and share content

social media

Markets where shares in companies are bought and sold

stock markets

Markets widely used or accepted by the general public

mainstream markets

A noun made from two or more words that work together as one term, e.g. stock market

compound noun

Public relations; managing an organisation’s relationship and image with the public

PR

To have a particular goal or intention

to aim

Using a story to communicate a message or connect with an audience

storytelling

To draw out or bring about a response or feeling

to elicit

To show or present something so people can see it

to display