Here you will find the description of some words and phrases that pertain to the concepts in this course, as well as words and phrases used in the videos and readings. If you want to add another word or expression that we missed, please suggest it in the forums. If you need to find a description of a brand used in the videos and readings, see the Brand Descriptions page.
Brand essence sums up how your brand connects emotionally with your customers. It is considered as an intangible asset.
Positioning is a marketing strategy that aims to make a brand occupy a distinct position, relative to competing brands, in the mind of the customer. Companies apply this strategy either by emphasizing the distinguishing features of their brand (what it is, what it does and how, etc.) or they may try to create a suitable image (inexpensive or premium, utilitarian or luxurious, entry-level or high-end, etc.) through advertising. Once a brand is positioned, it is very difficult to reposition it without destroying its credibility. It is also called product positioning.
Continuous optimization is a branch of optimization in applied mathematics. As opposed to discrete optimization, the variables used in the objective function are required to be continuous variables–that is, to be chosen from a set of real values between which there are no gaps (values from intervals of the real line).
Use of one marketing channel (such as direct mail or internet) to support or promote another channel. (Such as retail).
The promotion of products or brands via one or more forms of electronic media. For example, advertising mediums that might be used as part of the digital marketing strategy of a business could include promotional efforts made via the Internet, social media, mobile phones, and electronic billboards, as well as via digital and television and radio channels.
Digital media are any media that are encoded in a machine-readable format. Digital media can be created, viewed, distributed, modified, and preserved on computers.
Ethnography is the study of human behavior in its most natural and typical context. Research that uses ethnographic methods has long been used in anthropology by scientists that want to understand other cultures. It really isn’t possible to ask people details about their culture because culture is such an ingrained construct.
A focus group is a form of qualitative research in which a group of people are asked about their perceptions, opinions, beliefs, and attitudes towards a product, service, concept, advertisement, idea, or packaging. Questions are asked in an interactive group setting where participants are free to talk with other group members.
4 Ps of Marketing
The 4Ps of Marketing are also called the “marketing mix.” The basic major marketing management decisions can be classified in one of the following four categories, namely Product, Price, Place (distribution), and Promotion.
Gamification is the concept of applying game mechanics and game design techniques to engage and motivate people to achieve their goals. Gamification taps into the basic desires and needs of the users impulses which revolve around the idea of Status and Achievement.
Information Architecture is the structural design of shared information environments; the art and science of organizing and labelling websites, intranets, online communities, and software to support usability and findability; and an emerging community of practice focused on bringing principles of design and architecture to the digital landscape.
Internet of Things
The Internet of Things (IoT) is a scenario in which objects, animals, or people are provided with unique identifiers and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction. IoT has evolved from the convergence of wireless technologies, micro-electromechanical systems (MEMS), and the Internet.
Initial public offering (IPO) or stock market launch is a type of public offering in which shares of stock in a company usually are sold to institutional investors that in turn sell to the general public, on a securities exchange, for the first time.
Key Performance Indicators
A key performance indicator (KPI) is a business metric used to evaluate factors that are crucial to the success of an organization. KPIs differ per organization; business KPIs may be net revenue or a customer loyalty metric, while government might consider unemployment rates.
The observation made in 1965 by Gordon Moore that the number of transistors per square inch on integrated circuits had doubled every year since the integrated circuit was invented. Moore predicted that this trend would continue for the foreseeable future.
Primary research is new research carried out to answer specific issues or questions. It can involve questionnaires, surveys, or interviews with individuals or small groups. Secondary research makes use of information previously researched for other purposes and publicly available.
The term programmatic media (also known as programmatic marketing or programmatic advertising) encompasses an array of technologies that automate the buying, placement, and optimization of media inventory, in turn replacing human-based methods. In this process, supply and demand partners utilize automated systems and business rules to place advertisements in electronically targeted media inventory. It has been suggested that programmatic media is a fast-growing phenomenon in the global media and advertising industry.
Most marketers use push messaging often because it’s an easy-to-implement industry standard. In-app messaging is on the cusp of widespread adoption and is primed to create more targeted, purposeful user sessions.
Qualitative properties are properties that are observed and can generally not be measured with a numerical result. They are contrasted to quantitative properties which have numerical characteristics.
Quantitative data is data that can be quantified and verified and is amenable to statistical manipulation. Quantitative data defines whereas qualitative data describes.
Return on investment (ROI) is the benefit to the investor resulting from an investment of some resource. A high ROI means the investment gains compare favorably to investment cost. As a performance measure, ROI is used to evaluate the efficiency of an investment or to compare the efficiency of a number of different investments. In purely economic terms, it is one way of considering profits in relation to capital invested.
Sampling is concerned with the selection of a subset of individuals from within a statistical population to estimate characteristics of the whole population. Each observation measures one or more properties (such as weight, location, color) of observable bodies distinguished as independent objects or individuals.
A web search engine is a software system that is designed to search for information on the World Wide Web. The search results are generally presented in a line of results often referred to as search engine results pages (SERPs). The information may be a mix of web pages, images, and other types of files. Some search engines also mine data available in databases or open directories. Unlike web directories, which are maintained only by human editors, search engines also maintain real-time information by running an algorithm on a web crawler.
Secondary research (also known as desk research) involves the summary, collation, and/or synthesis of existing research rather than primary research where data is collected from, for example, research subjects or experiments.
Market segmentation is a marketing strategy which involves dividing a broad target market into subsets of consumers, businesses, or countries that have, or are perceived to have, common needs, interests, and priorities, and then designing and implementing strategies to target them.
Social listening is the process of monitoring digital media channels to devise a strategy that will better influence consumers. Taking information from places that consumers participate in online can be invaluable. A company can use that information for analyzing consumer behavior, determining the public’s perception of a company, and comparing a company’s public reputation to its competitors’.
Social media are computer-mediated tools that allow people to create, share, or exchange information, ideas, and pictures/videos in virtual communities and networks. Social media is defined as “a group of Internet-based applications that build on the ideological and technological foundations of Web 2.0, and that allow the creation and exchange of user-generated content.”
A survey is a sampling, or partial collection, of facts, figures, or opinions taken and used to approximate or indicate what a complete collection and analysis might reveal.
A SWOT analysis (alternatively SWOT matrix) is a structured planning method used to evaluate the strengths, weaknesses, opportunities, and threats involved in a project or in a business venture. A SWOT analysis can be carried out for a product, place, industry, or person.
A target market is a group of customers towards whom a business has decided to aim its marketing efforts and ultimately its merchandise. A well-defined target market is the first element of a marketing strategy.
User-generated content (UGC) is defined as “any form of content such as blogs, wikis, discussion forums, posts, chats, tweets, podcasting, pins, digital images, video, audio files, and other forms of media that was created by users of an online system or service, often made available via social media websites.”
Web analytics is the measurement, collection, analysis, and reporting of web data for purposes of understanding and optimizing web usage.