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Marketing 101: Key Terms In a Nutshell


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#1 MarcyKate

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Posted 16 March 2012 - 11:36 PM

To kick off the new Marketing forum, I thought I’d post some basic definitions* of key marketing terms that get tossed around a lot but that many may find confusing. Heard other terms that puzzle you? Post in the thread and they can be added to the list!
  • Marketing. The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
  • In a nutshell:This is the giant bucket everything else you do (advertising, promotion, planning, research, PR, etc) falls into.
  • Advertising. The placement of announcements and persuasive messages in time or space purchased in any of the mass media by business firms, nonprofit organizations, government agencies, and individuals who seek to inform and/ or persuade members of a particular target market or audience about their products, services, organizations, or ideas.
    • In a nutshell:If you pay for play or print and you control the messaging, it’s advertising.
  • Public Relations (PR). That form of communication management that seeks to make use of publicity and other nonpaid forms of promotion and information to influence the feelings, opinions, or beliefs about the company, its products or services, or about the value of the product or service or the activities of the organization to buyers, prospects, or other stakeholders.
    • In a nutshell: If it’s free, there’s a good chance it falls under public relations. Things like press releases, interviews (print, blog, radio, tv, etc), glad-handing babies and smiling for the cameras, are all public relations activities.
  • Brand/Branding. A brand is a customer experience represented by a collection of images and ideas; often, it refers to a symbol such as a name, logo, slogan, and design scheme. Brand recognition and other reactions are created by the accumulation of experiences with the specific product or service, both directly relating to its use, and through the influence of advertising, design, & media commentary.**
    • In a nutshell: Branding is tricky. While the visual aspect plays a big role, it’s not all of it by any means. It’s a representation of value and quality, often in a visual way, that makes your product instantly recognizable in the marketplace. People become brand loyal because they associate experiences and emotions with that brand. It’s why some people vehemently prefer Coke to Pepsi and vice versa. You want to be Coke.
  • Promotion. All forms of communication other than advertising that call attention to products and services by adding extra values toward the purchase. Includes temporary discounts, allowances, premium offers, coupons, contests, sweepstakes, etc.***
  • In a nutshell: This one sums it up pretty well, actually...
  • Social Media. forms of electronic communication (as Web sites for social networking and microblogging) through which users create online communities to share information, ideas, personal messages, and other content (as videos)**
  • In a nutshell: Repeat after me: “Social media is for engaging and interacting, not selling." Seriously.
*All definitions are from the American Marketing Association’s website unless otherwise noted.
**This definition is from Merriam-Webster’s online dictionary.
***This definition is from About.com’s Marketing Glossary.


#2 Caterina

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Posted 16 March 2012 - 11:53 PM

AWESOME! I'm definitely going to keep an eye on this forum!




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