MKTG COMM PP2

Product lifecycle

The stages a product goes through from development to adaptation or demise.

Brand moving

The process of a brand transitioning from introduction to maturity and either adaptation or demise.

Product position

The stage of a product's lifecycle that influences the promotions conducted.

Marketer's strategy

The approach taken by a marketer based on the product's position in the lifecycle.

Mass marketing

Selling or promoting the same product or service to large audiences.

Target groups

Different groups of consumers that a marketer needs to reach.

Media and contact channels

Various communication channels used to reach different target groups.

Brand and line extensions

Creating new products or variations under an existing brand.

Market segmentation

Dividing the market into groups based on their special needs.

Demographics

Statistical measures such as age, gender, ethnicity.

Psychographics

A description of a market based on factors such as attitudes, opinions, interests, and lifestyles.

Target marketing

Communicating with specific segments of prime prospects.

Positioning

Ranking a product in the consumer's mind based on benefits, classification, or differentiation.

Product attributes and benefits

Positioning a product based on its unique features and advantages.

Price/quality

Positioning a product based on its price and quality relationship.

Use/application

Positioning a product based on its specific use or application.

Product class

Positioning a product based on its category or class.

Product user

Positioning a product based on the type of consumer who uses it.

Competitor

Positioning a product based on its comparison to a specific competitor.

Cultural symbols

Positioning a product based on its association with certain cultural symbols.

Brand

A perception resulting from experiences and information about a company or line of products.

Brand development

The process of creating a distinct and valued place for a brand in the consumer's mind.

Promotional plan

A written document defining the promotional strategy and objectives for a targeted audience.

Situation analysis

Assessing the product, market, competition, company, and consumer.

Objectives

Measurable goals to be achieved through promotional activities.

Key message

The central idea or theme of the promotional plan.

Target audience

The primary and secondary groups to whom the promotional activities are directed.

Strategies

The promotional mix elements used to meet the objectives.

Budget

The costs associated with the recommended promotional activities.

Timetable

The schedule for conducting the promotional activities.

Evaluation

The process of assessing the effectiveness of the promotional activities.