http://www.tutor2u.netMarketing AtoZ Glossary Page 3 of 3
Below the line
“Below the line” is a term commonly used to refer to non-mediaadvertising or promotion when no commission has been paid to theadvertising agency. This includes direct mail, point of sale displays, andother sales promotions.
The process of comparing the products and services of a businessagainst those of competitors in a market, or leading businesses in othermarkets, in order to find ways of improving quality and performance
Benefit segmentation relates to the process of dividing a market basedon the specific benefits consumers seek from a product. For example,some car buyers want safety and security from their car, while otherslook for comfort or speed. A car manufacturer, therefore, has to decidewhich benefits to offer – and how these benefits should becommunicated to the customer
A means of analysing and categorizing the performance of business unitsin large diversified firms by reference to market share and growth rates.It was developed by the Boston Consultancy Group (BCG)
A brand is the specific type of the product form. A brand – representedby a brand name, symbol, design, logo, packaging – is the identity of aparticular product form that customers recognise as being differentfrom others.
Developing a brand's image and standing with a view to creating longterm benefits for brand awareness and brand value
Brand equity refers to the value of a brand. Brand equity is based onthe extent to which the brand has high brand loyalty, name awareness,perceived quality and strong product associations. Brand equity alsoincludes other “intangible” assets such as patents, trademarks andchannel relationships.
Brand extension refers to the use of a successful brand name to launcha new or modified product in a new market. Virgin is perhaps the bestexample of how brand extension can be applied into quite diverse anddistinct markets.
Brand image refers to the set of beliefs that customers hold about aparticular brand. These are important to develop well since a negativebrand image can be very difficult to shake off.
A strongly motivated and long standing decision to purchase a particularproduct or service
A customer's awareness that a brand exists and is an alternative topurchase
Breakeven is achieved when total contribution is equal to total fixedcosts. Addition contribution earned after this point becomes profit
Setting a price to achieve break-even on the costs of making andmarketing a product (direct costs). Breakeven is achieved when thetotal contribution from sales priced in this way at least equal the fixedcosts of the business
A strategy based on the Boston Matrix. Here the company can invest toincrease market share (for example turning a "question mark" into astar)
The business portfolio is the collection of businesses and products thatmake up the business.