MGMT WK1 Marketing communications

WK1

Postmodernism

A reaction to the assumed certainty of scientific efforts to explain reality, focusing on individual interpretations and the construction of personal reality.

Global Village

A term describing a world where technology allows for instantaneous communication and connectivity among global consumers.

Market Segmentation

The process of dividing a broad consumer or business market into sub-groups of consumers based on shared characteristics.

Generations X, Y, Z

Demographic segments based on birth years: Generation X (1965-1977), Generation Y (1977-1994), Generation Z (1995-2012), each with distinct characteristics and consumer behaviors.

Technological Advancements

Developments in technology that transform methods of communication, allowing for two-way interactions and real-time information sharing.

Information Explosion

The rapid increase in the volume of information available to consumers through the internet, leading to both opportunities and challenges in decision-making.

Consumer Empowerment

The shift of power from producers to consumers, who now have greater access to information and more control over their purchasing decisions.

Integrated Marketing Communications

A strategy that integrates all forms of communication and messaging to ensure consistency across all consumer touchpoints.

Word-of-Mouth Communication

Information about products or services communicated informally from one consumer to another, often considered more influential than traditional advertising.

Virtual Reality

An environment created by computer technology that allows individuals to interact and engage with brands and other consumers in an immersive way.