marketing vocab

Exploratory Research Study

a preliminary investigation to understand a business problem or situation for better insight

Likert Scale

a survey tool to measure attitudes, opinions, or beliefs to rate their level of agreement with a statement

ROMI (return on marketing investment)

measures profit or revenue generated by advertising efforts compared to their cost

Copy

written material used to persuade or influence a potential to take a specific action

Promotional Mix

Combination of marketing methods to achieve a specific marketing goal; selling, sales promotion, public relations, advertising, direct marketing (SSPAD)

Statistics

data used to understand trends and effectiveness to make optimized decisions

Communication Channels

platforms or mediums businesses used to convey promotional messages to their target audience

Semantic Differential Scale

survey tool used to measure attitudes and perceptions by having respondents rate a subject on a scale between 2 opposing adjectives

Suggestion Selling

a sales technique where a salesperson recommends additional, complementary products or services to a customer during an initial purchase

Merchandise Approach

a customer service technique where a salesperson directly engages a customer who has shown previous interest in a product to maximize sales

Trial Close

asking a question to gauge a person's readiness to purchase

Sales Promotion

strategy to promote brand awareness and demand using short-term incentives

Benefit

the positive outcome or advantage a customer receives from a product or service

Sample Design

strategy or plan for selecting a sample from a larger population to conduct research.

Channels of Distribution

the pathways a product or service travels from the manufacturer to the final consumer

Exploratory Research Study

a preliminary investigation to understand a business problem or situation for better insight

Likert Scale

a survey tool to measure attitudes, opinions, or beliefs to rate their level of agreement with a statement

ROMI (return on marketing investment)

measures profit or revenue generated by advertising efforts compared to their cost

Copy

written material used to persuade or influence a potential to take a specific action

Promotional Mix

Combination of marketing methods to achieve a specific marketing goal; selling, sales promotion, public relations, advertising, direct marketing (SSPAD)

Statistics

data used to understand trends and effectiveness to make optimized decisions

Communication Channels

platforms or mediums businesses used to convey promotional messages to their target audience

Semantic Differential Scale

survey tool used to measure attitudes and perceptions by having respondents rate a subject on a scale between 2 opposing adjectives

Suggestion Selling

a sales technique where a salesperson recommends additional, complementary products or services to a customer during an initial purchase

Merchandise Approach

a customer service technique where a salesperson directly engages a customer who has shown previous interest in a product to maximize sales

Trial Close

asking a question to gauge a person's readiness to purchase

Sales Promotion

strategy to promote brand awareness and demand using short-term incentives

Benefit

the positive outcome or advantage a customer receives from a product or service

Sample Design

strategy or plan for selecting a sample from a larger population to conduct research.

Channels of Distribution

the pathways a product or service travels from the manufacturer to the final consumer