The identification e.g. Logo of a product or service which is instantly recognisable without explanation e.g. Nike tick, Kellogg's Cornflakes Cockeral
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BOGOF
Buy one, get one free
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Happy hour
Reduced price items at a predetermined time of the day or week
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Carbon Footprint
The amount of carbon dioxide and other gases emitted through fuel consumption
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Market Share
The given percentage of a given market that a business holds
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Mass Market
Interest to many different people in different locations e.g. Cars, tissues, bread
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Niche Market
A market restricted to special interests or needs e.g. Kosher and Halah food
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Market Segmentation
Breaking down a whole market into different segments e.g. Age, sex, location, lifestyle
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USP
Unique Selling Point, also known as Unique Selling Proposition. Helping a business to stand out over competitors and gain market share e.g. Environmentally friendly, level of customer service, after service
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Brand Personality
Human characteristics to which a customer can relate with, especially if similar to their own personality
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Strapline
A caption or heading often providing a brief snappy overview of a product, service or news story
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Culture
Behaviours, habits and values of groups or individuals
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Viral (advertising/marketing)
Unsolicited and infectious marketing tactics using social media to attract interest
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Disposable Income
The amount of residual money available for non-essentials after paying bills and creditors
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PESTLE
External influences including: Political, Economical, Social, Technolgical, Legal and Environmental
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SWOT
Internal and external audit - strengths, weaknesses, opportunities and threats
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Market Intelligence
Gathering data from different sources which is analysed and evaluated to identify trends
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Market Research
Systematic gathering, recording and analysis of data about issues relating to marketing products and services
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Customer
Someone who purchases Products and services
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Consumer
Someone who purchases and consumes or uses products and services
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Prototype
An initial version or mock-up of a concept for further development
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Primary Research
Information and data the business has gathered first-hand and has not been gathered before
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Secondary Research
Data and information that has been collected before either within the organisation or by another organisations. Also known a desk research
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Validity
The process of ensuring data is valid by using original sources or tracing the data back to the original source
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Reliability
Making sure the method of data gathering leads to consistent results when the input is consistent
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Objective
A judgement that is not influenced by personal opinions or points of view, neither biased or prejudiced, and can be validated
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Subjective
Based on personal opinions and interpretations
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Currency
Date of the research
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Quantitative Data
Data that comprises of numbers and can be analysed mathematically
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Qualitative Data
Subjective and open-ended, results usually provide a wide range of answers
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Product Life Cycle
Products are born, grow up, mature and eventually die
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Slogan
A short, punchy phrase which conveys a memorable message, often used by companies to market their products and services
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SMART
Specific, Measurable, Achievable, Realistic and Time Bound
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Marketing Mix
Factors that a company can control and which will persuade or influence customers to by products or services
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4 P's
Product, Price, Place and Promotion
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Extended Marketing Mix
Product, Price, Place, Promotion, Processes, Physical Environment and People
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RRP
Recommended Retail Price
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Unit Cost
All expenses incurred to manufacture a product or deliver a product or service including transport, raw materials, labour and premises, divided by the number of items manufactured
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AIDA
Attention, Interest, Desire and Action
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PR
Public Relations
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Economies of Scale
A term relating to the cost benefits in return for output, such as income return after deducting the cost of a marketing campaign aimed at a mass market
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Other cards in this set
Card 2
Front
Buy one, get one free
Back
BOGOF
Card 3
Front
Reduced price items at a predetermined time of the day or week
Back
Card 4
Front
The amount of carbon dioxide and other gases emitted through fuel consumption
Back
Card 5
Front
The given percentage of a given market that a business holds
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