Are you searching for essential Marketing Vocabulary? Here is a list of marketing words for Buyers and Sellers, Product, Price, Place, Promotion.
Marketing Vocabulary List
Marketing Vocabulary for Buyers and Sellers
- Buyer – a person who buys something. Also buyer means someone in a company who is responsible for buying stocks for the company.
- Buying habit – Buying of the same brand over and over again.
- Buying motivation – Internal and external factors that stimulate buying in people.
- Corporate image – The way society views a company.
- Customer – a person who buys something from a shop.
- Discount – a reduction in price. One of the most common marketing words.
- E-marketing – Promotion of products and services over the Internet
Market niche – Small but profitable segment of a market in which a company is a specialist, a very specific form of target marketing.
- Market segmentation – Process of defining and dividing a market into different segments having similar needs, wants, or demand characteristics.
- Market share – Percentage of sales of a particular product or service in a market captured by a brand, product, or firm.
- Market size – The number of buyers and sellers in a particular market.
- Marketing strategy – Written plan which includes product development, promotion, distribution, and pricing approach, indicates the marketing goals. Marketing strategy explains how marketing goals will be achieved within a stated period of time.
- Marketing mix – Four basic marketing strategies, known as the four Ps: product, price, place and promotion.
- Positioning – To develop a specific image of the brand in the minds of consumers.
- Seller – a person who sell something.
Marketing Vocabulary for the Product
- Product catalogue / mix/ portfolio – a company’s products as a group. One of the most used marketing words.
- Product range/line – products of a particular type manufactured and/or sold by a company
- Product life cycle – The complete life of a product, from early planning to production, marketing, use, and disposal and recycling.
- Product positioning – consumer perception of a product as compared to it’s competition.
- Product placement – a form of advertisement, when a company pays for a product t o be seen in films and TV programs.
Marketing Vocabulary for the Price
- Price boom – prices are rising quickly
- Price cut – a reduction in price
- Price hike – an increase in price
- Price war – companies cut prices in response to each other
- Price leader – a company whose price and price changes are followed by the rest of the industry
- Price tag – label attached to products and showing the price
Marketing Vocabulary for the Place
- Distribution channel – a way of selling a company’s product either directly or via distributors.
- Channel decisions – includes: Channel strategy, Gravity & Gravity, Push and Pull strategy, Cost,
- Consumer location
- E-commerce – buying and selling of products or services over electronic systems such as the Internet. One of the most used marketing words.
Marketing Vocabulary for the Promotion
- Advertising – is a form of communicationwhose purpose is to inform potential customers about products and services and to persuade them to take some action
- Public relations – a promotion intended to create goodwill for a person or institution
- Personal selling – face-to-face communication between the seller and buyer
- Sales promotion – activities, materials, and techniques used tosupplement or coordinate advertising. Sales promotion includes coupons, sales, discounts, premiums, sweepstakes and contests. One of the most common marketing words.
Now a days three more Ps have been added to the marketing mix:
- Physical Evidence