Market Segment
a set of businesses or groups of individuals customers with distinct characteristics
market segmentation
identifying specific groups based on their needs, attitudes and interests
demographics
population characteristics such as gender, age, educational levels, income and ethicity
psychographics
patterns of responses that reveal a persons activities interests and opionions
geo-targeting
marketing appeals made to people in a geographic area or region
product positioning
the perception in the consumers mind of the nature of a company and its products relative to the competition
benchmark measures
starting points that are studied in relation to the degree of change following a promotional campaign
threshold effects
the point at which an advertising or promotional program has begun to affect customer responses
sales response function curve
a S-shaped curve that indicates when threshold effects are present and when diminishing returns are present
concave downward function
a model of the diminishing returns of advertising and promotions have an adverse affect on profits
carryover effects
the point at which a consumer has been exposed to the companies message for so long that when the time comes to buy, the individual remembers the company
wear out effects
declines in advertising effectiveness that occurs when an ad or marketing communications becomes “old” or “boring”
decay effects
declines in advertising effectiveness that occur when advertising stops and consumers begin to forget about the company
percentage of sales budget
a form of communications budgeting in which budgeting is based on sales from the previous year or antiquated sales for the next year
meet the competition budget
a communications budget in which expenditures are raised or lowered to match in the competition
“what we can afford” budget
a communication budget that is set after all the company’s other budgets have been determined or while the other budges are being set and communications money is allocated based on what company leaders feel they can afford to spend
objective and task budget
a communication budget is which management first list all of the communications objectives to pursue during the year and then calculating the cost of accomplishing those objectives
payout planning budget
a budgeting method that establishes a ratio od advertising to sales or market share
cultural assimilator
a person who is familiar with the local language to help marketing efforts in that particular region
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