50 Marketing Definitions

Definitions:
1. Marketing: The process of promoting, selling, and distributing products or services to satisfy customers'
needs and wants. (Kotler et al., 2017)

2. Market Segmentation: Dividing a market into distinct groups of customers with similar needs,
characteristics, or behaviors. (Kotler et al., 2017)

3. Target Market: The specific group of consumers or businesses that a company aims to reach with its
marketing efforts. (Kotler et al., 2017
2017)

4. Marketing Mix: The combination of elements that companies use to satisfy a target market's needs and
achieve marketing objectives, often referred to as the "4Ps": product, price, place, and promotion. (Kotler
et al., 2017)

5. Product: A tangible good, service, or idea that meets customers' needs and provides value. (Kotler et
al., 2017)

6. Brand: A unique combination of name, symbols, design, or a mixture thereof that differentiates a
product or service from competitors in the eyes of customers. (Kotle
(Kotler et al., 2017)

7. Value Proposition: The unique set of benefits and values that a product or brand promises to deliver to
target customers. (Kotler et al., 2017)

8. Positioning: The act of intentionally differentiating a product or brand in the minds of target
t consumers
to create a distinct and desirable image. (Keller, 2009)

9. Market Research: The systematic gathering, recording, and analyzing of data pertaining to customers,
competitors, and market trends to make informed business decisions. (Malhotra & Birks, 2017)

10. Consumer Behavior: The study of individuals, groups, or organizations and the processes they use to
select, secure, use, and dispose of products or services to satisfy their needs and wants. (Solomon et al.,
2019)
11. Marketing Communication: The strategy and tactics used to inform, persuade, and remind target
customers about a product or brand using various channels such as advertising, sales promotion,
personal selling, direct marketing, and public relations. (Kotler et al., 2017)

12. Market Penetration: The process of promoting existing products or services within the current market
to gain a larger market share. (Kotler et al., 2017)

13. Market Development: The strategy of identifying and developing new market segments for existing
products or services. (Kotler et al., 2017)

14. Product Development: The process of creating and introducing new products or services to the
market. (Kotler et al., 2017)

15. Diversification: The strategy of adding new products or services to a company's existing product line
in order to enter new market segments. (Kotler et al., 2017)

16. Customer Relationship Management (CRM): The approach and tools used to manage and analyze
interactions with current and potential customers to enhance customer satisfaction, loyalty, and retention.
(Payne & Frow, 2013)

17. Customer Lifetime Value (CLV): The projected revenue and profits a customer will generate during
their entire relationship with a company. (Kotler et al., 2017)

18. Marketing Strategy: The overall plan that guides a company's marketing activities based on its
marketing objectives, target market, and marketing mix decisions. (Kotler et al., 2017)

19. Market Share: A company's portion of the total sales revenue within a specific market. (Kotler et al.,
2017)

20. Competitive Advantage: The unique attributes or resources that give a company an edge over
competitors, leading to superior performance. (Porter, 1985)

21. Brand Equity: The value and strength of a brand based on consumer perceptions and associations,
which can be measured through awareness, loyalty, and perceived quality. (Keller, 2013)

22. Marketing Channel: The network of organizations involved in delivering products or services from
producers to end-users, including wholesalers, retailers, and intermediaries. (Kotler et al., 2017)

23. Distribution: The process of making products or services available to target customers through
appropriate channels, locations, and timing. (Kotler et al., 2017)

24. Channel Management: The planning, implementation, and control of activities involved in the
movement and storage of goods or services from producers to consumers. (Kotler et al., 2017)

25. Pricing Strategy: The approach and policies companies use to determine prices for their products or
services, considering factors such as costs, competition, and customer value perceptions. (Kotler et al.,
2017)

26. Price Elasticity: The measure of customer sensitivity to changes in price, reflecting how demand
fluctuates as prices increase or decrease. (Kotler et al., 2017)

27. Market Share Analysis: The examination of a company's sales performance relative to competitors in
a particular market, usually expressed as a percentage. (Cannon & Homburg, 2001)
28. Marketing Plan: A written document outlining a company's marketing objectives, strategies, and
tactics for a specific period, typically one year. (Kotler et al., 2017)

29. Return on Investment (ROI): A metric used to measure the profitability generated by an investment
relative to its cost, enabling assessment of marketing activities' financial effectiveness. (Kotler et al.,
2017)

30. Social Media Marketing: The use of social media platforms and websites to promote products or
services, engage with customers, and build brand awareness. (Hoffman & Fodor, 2010)

31. Content Marketing: A strategic marketing approach that involves creating and distributing valuable
and relevant content to attract and retain a target audience. (Kotler et al., 2017)

32. Influencer Marketing: A type of marketing that focuses on using key individuals or online personalities
to endorse or promote products or services to their social media followers. (Kotler et al., 2017)

33. Viral Marketing: A marketing technique that aims to create or encourage rapid and widespread
sharing of a marketing message or content through online platforms. (Hennig-Thurau et al., 2013)

34. Guerrilla Marketing: An unconventional marketing strategy that utilizes low-cost, creative, and
unconventional tactics to grab attention and create buzz around a product or brand. (Levinson, 2007)

35. Customer Relationship Marketing (CRM): A marketing approach that emphasizes building and
maintaining long-term relationships with customers by understanding and fulfilling their individual needs
and preferences. (Kotler et al., 2017)

36. Emotional Marketing: A marketing strategy that leverages emotions to create a strong connection
between a product or brand and its target audience, often focusing on the emotional benefits associated
with the product/service. (Gomez et al., 2020)

37. Integrated Marketing Communications (IMC): The coordination and integration of various promotional
tools and communication channels to deliver a consistent and persuasive marketing message. (Kitchen et
al., 2004)

38. Market Orientation: A business culture that prioritizes market research, customer satisfaction, and
customer needs above other organizational considerations. (Narver and Slater, 1990)

39. Unique Selling Proposition (USP): A distinguishing feature or benefit of a product/service that sets it
apart from competitors and provides a persuasive reason for customers to choose it. (Reeves, 1961)

40. Direct Marketing: A marketing approach that involves communicating directly with individual
consumers to generate a response or transaction, often using methods such as direct mail, email, or
telephone. (Kotler et al., 2017)

41. B2B Marketing: Marketing activities and strategies utilized by businesses targeting other businesses
as customers. (Kotler et al., 2017)

42. Consumer Value: The perceived benefit or satisfaction that customers derive from a product or
service relative to the costs incurred to acquire it. (Zeithaml et al., 1996)

43. Customer Satisfaction: The extent to which a product or service meets or exceeds customers'
expectations, leading to post-purchase contentment and loyalty. (Oliver, 2010)
44. Customer Retention: The ability of a company to keep its existing customers over an extended period
by satisfying their needs and building strong relationships. (Kotler et al., 2017)

45. Market Niche: A narrowly defined

ned segment within a larger market, consisting of customers with unique
needs, preferences, or characteristics. (Kotler et al., 2017)

46. Co-branding:
branding: A marketing strategy that involves the collaboration of two or more brands to create a
unique, separate offering,
ffering, often leveraging each brand's equity and customer base. (Kotler et al., 2017)

47. Marketing Automation: The use of software and technologies to automate repetitive marketing tasks,
streamline processes, and improve operational efficiency. (Kotler et al., 2017)

48. Big Data: Large and complex sets of data obtained from various sources, compiled and analyzed to
reveal patterns, trends, and insights that can be used for decision
decision-making
making and marketing strategies.
(Chen et al., 2012)

49. AIDA Model: A marketing

rketing model that represents the sequential stages a customer goes through
during the buying process: Attention, Interest, Desire, and Action. (Strong, 1925)

50. Call to Action (CTA): A prompt or instruction provided to consumers to encourage immediate
response
sponse or engagement, typically in marketing communications. (Kotler et al., 2017
2017).