Marketing research is "the process or set of processes that links the producers, customers, and end users to the marketer through information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. Marketing research specifies the information required to address these issues, designs the method for collecting information, manages and implements the data collection process, analyzes the results, and communicates the findings and their implications."
'Brand equity' is a phrase used in the marketing industry which describes the value of having a well-known brand name, based on the idea that the owner of a well-known brand name can generate more revenue simply from brand recognition, as consumers believe that a product with a well-known name is better than products with less well-known names. Brand equity refers to the value of a brand.
In promotion and of advertising, a testimonial or show consists of a person's written or spoken statement extolling the virtue of a product. The term "testimonial" most commonly applies to the sales-pitches attributed to ordinary citizens, whereas the word "endorsement" usually applies to pitches by celebrities. Testimonials can be part of communal marketing. Sometimes, the cartoon character can be a testimonial in a commercial.
Net Promoter or Net Promoter Score (NPS) is a management tool that can be used to gauge the loyalty of a firm's customer relationships. It serves as an alternative to traditional customer satisfaction research and is claimed to be correlated with revenue growth. NPS has been widely adopted with more than two thirds of Fortune 1000 companies using the metric. The tool aims to measure the loyalty that exists between a provider and a consumer. The provider can be a company, employer or any other entity. The provider is the entity that is asking the questions on the NPS survey. The consumer is the customer, employee, or respondent to an NPS survey. An NPS can be as low as −100 or as high as +100. NPS scores vary across different industries, but a positive NPS is generally deemed good, a NPS of +50 is generally deemed excellent, and anything over +70 is exceptional.
Engagement marketing, sometimes called "experiential marketing", "event marketing", "on-ground marketing", "live marketing", "participation marketing", "Loyalty Marketing", or "special events" is a marketing strategy that directly engages consumers and invites and encourages them to participate in the evolution of a brand or a brand experience. Rather than looking at consumers as passive receivers of messages, engagement marketers believe that consumers should be actively involved in the production and co-creation of marketing programs, developing a relationship with the brand.
The following outline is provided as an overview of and topical guide to marketing:
Digital marketing is the marketing of products or services using digital technologies, mainly on the Internet, but also including mobile phones, display advertising,and any other digital medium. Digital marketing channels are systems based on the internet that can create, accelerate, and transmit product value from producer to the terminal consumer by digital networks.
Youth Marketing is a term used in the marketing and advertising industry to describe activities to communicate with young people, typically in the age range of 13 to 35. More specifically, there is the teen marketing, targeting people age 13 to 17, college marketing, targeting college-age consumers, typically ages 18 to 24, young adult marketing, targeting youngsters use professionals, typically ages 25 to 34.
An incentive program is a formal scheme used to promote or encourage specific actions or behavior by a specific group of people during a defined period of time. Incentive programs are particularly used in business management to motivate employees and in sales to attract and retain customers. Scientific literature also refers to this concept as pay for performance.
Consumer-generated advertising is advertising on consumer generated media. This term is generally used to refer to sponsored content on blogs, wikis, forums, social networking web sites and individual web sites. This sponsored content is also known as sponsored posts, paid posts or sponsored reviews. The content includes links that point to the home page or specific product pages of the website of the sponsor. Examples include Diet Coke and Mentos videos, the I've Got a Crush On Obama video, and Star Wars fan films. Companies that have employed consumer-generated ads include Subaru North America, McDonald's, Rose Parade and Toyota North America.
Customer retention refers to the ability of a company or product to retain its customers over some specified period. High customer retention means customers of the product or business tend to return to, continue to buy or in some other way not defect to another product or business, or to non-use entirely. Selling organizations generally attempt to reduce customer defections. Customer retention starts with the first contact an organization has with a customer and continues throughout the entire lifetime of a relationship and successful retention efforts take this entire lifecycle into account. A company's ability to attract and retain new customers is related not only to its product or services, but also to the way it services its existing customers, the value the customers actually generate as a result of utilizing the solutions, and the reputation it creates within and across the marketplace.
Brand awareness refers to the extent to which customers are able to recall or recognise a brand. Brand awareness is a key consideration in consumer behavior, advertising management, brand management and strategy development. The consumer's ability to recognise or recall a brand is central to purchasing decision-making. Purchasing cannot proceed unless a consumer is first aware of a product category and a brand within that category. Awareness does not necessarily mean that the consumer must be able to recall a specific brand name, but he or she must be able to recall sufficient distinguishing features for purchasing to proceed. For instance, if a consumer asks her friend to buy her some gum in a "blue pack", the friend would be expected to know which gum to buy, even though neither friend can recall the precise brand name at the time.
Targeted advertising is a form of online advertising that is directed towards audiences with certain traits, based on the product or person the advertiser is promoting. These traits can either be demographic which are focused on race, economic status, sex, age, the level of education, income level and employment or they can be psychographic focused which are based on the consumer's values, personality, attitudes, opinions, lifestyles and interests. They can also be behavioral variables, such as browser history, purchase history, and other recent activity. Targeted advertising is focused on certain traits and the consumers who are likely to have a strong preference will receive the message instead of those who have no interest and whose preferences do not match a product's attribute. This eliminates wastage.
Marketing accountability is a term that signifies management with data that is understandable to the management of the enterprise. "Accountable Marketing" is another name that can be given to this process.
Dialogue marketing emerged in the early 2000s as companies engaged willing consumers in an ongoing dialogue to create lasting relationships. For example, based on data, marketers invite groups of likely consumers to connect with the company. The engagement process provides value to both the consumer and the company. Marketers use these opportunities as data collection points. The companies use the data to further customize their marketing messages and personalize the experience for their consumers and market segments. In exchange for sharing opinions, buying patterns, product preferences, etc., consumers receive perks such as discounts, tips, and free trials as well as appropriate messaging from the company.
Virtual engagement is a metric to determine the level of affinity between a company and its customers. In today's internet economy, few things matter as much to marketers as the intensity of the feelings a customer has towards the brand or the product of a given corporation. Marketing professionals are engaging prospects and moving them along the customer engagement cycle to become customers and finally advocates.
Consumer neuroscience is the combination of consumer research with modern neuroscience. The goal of the field is to find neural explanations for consumer behaviors in individuals both with or without disease.
