CH 10 Key Terms

promotional mix

How much of each message conveyance you will use to sell your product as well as your objective in using each one.

trade association

(also known as professional association). A group of people in the same industry who band together to gather and share information and present and represent the industry to the public and government.

influencer

A customer role describing a person or group who can make credible or recognized suggestions or recommendations to others regarding purchase choices.

media content strategy plan

A document, for the managers and employees of the firm to see, that details the specifics of the firm's marketing efforts including the goals, target audiences, distribution channels, keywords, content types, calendar, publishing procedures, action items, KPIs, and analytics across all the different types of marketing efforts the firm will attempt.

word of mouth

A means of spreading information about your business through the comments friends and customers make to other potential customers.

brand ambassador

A person who represents your brand, company, product, or service to others to increase brand awareness, sales, and positive attitudes among the public. They can be paid or volunteer. They often receive your products and services to use and show off to the public. Also called a spokesperson.

diversification

A strategy whose goal is growth based on adding new products or services to the firm's existing collection of offerings.

product expansion

A strategy whose goal is growth, based on selling existing customers a product or service they have never bought before.

market expansion

A strategy whose goal is growth, based on selling in areas or to groups previously not served by the business.

market penetration

A strategy whose goal is growth, based on selling more of the firm's product or service to the existing customer base.

hashtag

A term developed to be easily searched on the Internet. Hashtags are words or multiword phrases (without spaces) preceded by a "#" sign (called a hash) that is associated with an idea, person, product, service, brand, firm, event, or the like.

customer vector report

A type of CRM report that segments by customer (or customer group) on purchases or dates of purchase.

co-marketing

A type of media partnership where two products jointly pay to advertise together. Usually this is when customers use the two products together, like chips and salsa.

cognitive dissonance

Doubt that occurs after a purchase has been made. An inconsistency between experience and belief.

shared media

Generally called word-of-mouth or referral advertising, these are promotional mentions of your brand, firm, product, services, or user experiences with them made by customers and others and posted or shared through their social media sites.

paid media

Generally referred to as bought or paid advertising, paid media are promotions where your firm pays another for the placement and distribution of the material.

earned media

Generally what has been called publicity or press or public relations, these refer to do-it-yourself and paid efforts to get the message of your brand, business, product, or service out to the general public or the mass media (TV, radio, print) in hopes it gets repeated by them.

referrals

Getting customers to refer their friends to you.

key performance indicators (KPIs)

Measures or metrics that identify the outcomes that are most important to the success of a business. While outcomes like sales or products produced are KPIs, events leading up to these are also usually considered key, like customers coming to your store or website for sales, or number of products started.

free ink

Mentions of your company or products in the media for which your firm did not pay.

donations

Monetary or other gifts to organizations or people who are in need.

native advertising

Native advertising are forms of ads inserted into the regular flow of noncommercial web pages so that it appears to be "native" to the page. The FTC regulates that native advertising carry an identifier (such as "Sponsored" in front of the item) to show it is an ad and not a statement by the page's content creator.

advertising

Often used to support the corporate identity and value propositions that are established through public relations efforts. Part of conveying your message to your customers, advertising outlets include newspapers, magazines, billboards, television, and Internet banner ads, to name a few.

business directory sites

Online services that provide the equivalent of the old telephone directory, listing businesses, their websites, phone numbers, and other information for prospective customers.

user review sites

Online sites where customers and users of products and services can post their opinions, rating, and experiences for others to see. Smart companies track these sites and respond to customers' reviews on these sites.

sponsorships

Paying for a local organization's needs in exchange for recognition.

sales leads

People who receive a promotional impression and who give some thought to buying the product.

prospects

Sales leads who actually make some sort of effort to learn more about the product, service, or business in anticipation of a possible purchase.

up-selling

Selling additional accessories or higher-quality versions of the product at a higher cost.

virtuous cycle

Situations where one good turn invites a another one from someone else are called virtuous cycles.

sponsored content

Sponsored content is material you develop or have developed to present to customers information about your company, brand, products, or services. Links to this material are placed on other people or brand websites or social media feeds, in hopes potential customers will click on the links and learn more about your offering.

OOH

Stands for "out of home" and refers to advertising people will encounter when away from home. This includes posters, digital and print ads in transit shelters, at airports and venues with major foot traffic, and digital and conventional billboards and signage.

social media embassies

These combine elements of owned and shared media and represent the social media platforms on which your brand, business, products, or services have a formal presence (like a company page). The page belongs to you, but it exists on a media platform that you don't own or control.

media partnerships

These occur at the overlap of shared and earned media and represent the paid and unpaid arrangements made by your brand, company, product, or service with outside individuals or organizations to promote your brand to the public or their own social media or public bases. These partnerships include influencer marketing (also called brand ambassadors), trade and professional organizational memberships, local organization memberships, sponsorships, co-branding, co-advertising, donations, and community service.

unbundle

To break apart a product or service into components.

newsworthy events

To garner serious attention from the media and the public, a news story needs to deliver certain essentials that will hold their attention and keep your news in their thoughts. It should have public recognition, importance, and interest.

cross-selling

To sell related products.

advertorial

Typically a paid advertisement from a company written in the form of an editorial, making the company's point about an issue, and published in the mass media.

impression

What it is called when someone notices a promotional effort.

co-branding

When two companies or brands combine to create a new product or service that combines both brands, such as Nike's LeBron sneakers.

media kit

A type of specialized web page or sales-material-based package (hard copy or PDF) sent to media outlets that is focused on telling them about your company and its story. These are often built around a press release for something of potential current interest to the media outlet. Also called a press kit.

bot

A web-based program that uses artificial intelligence techniques to automate tasks such as searches.

press release

A written announcement intended to draw news media attention to a specific event.

community service

Activities undertaken to help support, repair or improve the community, its institutions, infrastructures, or people. Examples include clean-up days, disaster relief, or helping-your-neighbor efforts, among others.

social media management platform

An online service that captures and displays the feeds from your social media platforms and makes it easy to post across multiple platforms, schedule posts on different platforms, and help you see social media statistics. Free and freemium examples include Hootsuite, Buffer, Tweetdeck, SocialOomph, and Followerwonk.

viral marketing

Any electronic equivalent of word-of-mouth advertising, in which the advertiser's message spreads quickly and widely via email, website, blogs, and other online tools.

hit rate

How many prospects or leads you need to approach in order to make one sale. Also called the conversion rate.

brand promise

The gains provided (i.e., the benefits) or the help given (i.e., the pains removed) by the product or service your firm offers.

succinct message

The key point in as few and as memorable words as possible.

brand

The name a firm puts on itself and its products to differentiate them from competitors' offerings.

business profile kit

The name for the media kit you create for your own business (to distinguish it in your mind from the media kits of other organizations).

media integration

The overlap of paid and earned media is based on generating leads through three paid types of efforts: advertorials (editorials written by a company as a type of ad), lead generation purchases (e.g., mailing or subscriber lists or contests), and contests or sweepstakes.

incentive media

The overlap of paid and owned media reflects the partnerships where you are paying for connections useful to your business. This includes affiliate marketing, brand ambassadors, native advertising, and sponsored content.

personal selling

The process of selling your products and services; includes prospect and evaluate, prepare, present, close, and follow up.

lead generation

The promotional technique of obtaining prospective customers through paid and unpaid efforts to obtain contact information from people with the plan to send these prospects advertisements or other messages in hopes of getting them to become customers.

marketing funnel

The rule of thumb in marketing that it takes a large number of people to be made aware of your product in order to find a purchaser.

domain name

The specific name of an Internet site, consisting of a name followed by .com, .net, or a similar code.

owned media

These are promotional materials directly and wholly owned by your company, like your name, your websites, your signage, and the like.