Marketing Vocabulary

A set of vocabulary flashcards including key terms and definitions used in marketing.

Advertising

Paying for a message to be communicated to the public to encourage sales.

Brand

The name, design, symbol, or other feature that identifies one seller's product as unique.

Budget

The amount of money allocated for a specific activity, such as marketing.

Business

An organization involved in commercial, industrial, or professional activities.

Competition

The rivalry among companies selling similar products or services.

Consumer

The person who ultimately uses the product or service.

Cost

The money a company spends to create and produce a product.

Customer

The person who purchases the product or service.

Feature

A distinctive attribute or aspect of a product (e.g., a long battery life).

Goal

A desired result a business plans and commits to achieving.

Goods

Physical products that can be touched and owned (e.g., a phone or a toy).

Incentive

Something that encourages a person to act, often a discount or prize.

Logo

A symbol or small design adopted by an organization to identify its products.

Market

All the potential customers for a product, or the place where buyers and sellers meet.

Market Share

The percentage of total sales in a market captured by one company.

Marketing

The process of communicating and delivering value to customers.

Marketing Mix (4 P's)

Product, Price, Place, and Promotion.

Packaging

The container or wrapper for a product that protects it and provides information.

Place (Distribution)

Where and how a product is made available to customers (e.g., a store or online).

Price

The amount of money a customer pays for a product or service.

Product

A tangible good or an intangible service offered for sale.

Profit

The financial gain made after all expenses (costs) are subtracted from the revenue (sales).

Promotion

All activities that communicate the product's value to encourage sales.

Publicity

Free attention a product or company gets from the media (like a news story).

Retailer

A business that sells goods directly to the public/consumer.

Revenue

The total income a business receives from its sales before expenses.

Sale

A period when goods are sold at reduced prices OR exchanging goods for money.

Sales Pitch

A verbal presentation intended to persuade a customer to buy.

Service

An intangible activity or benefit offered for sale (e.g., a haircut or car wash).

Slogan

A short, memorable catchphrase used in advertising.

Strategy

A plan of action designed to achieve a long-term goal.

Target Audience

The specific group of people a company wants to reach with its marketing efforts.

Value

The importance or worth of something to the customer, often compared to its price.

Wholesaler

A business that buys large quantities of products and sells them to retailers.