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Marketing Terms 1

Study terms

TermDefinition
Accounting Process of keeping records. Businesses use this to keep track of the things they own, the accounts owed to them, and the amounts they owe to others.
Active Listening To listen actively, you pay attention to the customer’s statements, ask questions when necessary, and restate for clarity
Advertising Any message paid for by an identified sponsor and appearing in the media. A form of promotion. Paid for, non-personal (not one-on-one), sponsor is identified.
Advertising Agency Helps a client write, create,and design ads and commercials,including the purchase of media and follow-up. Most of the income they make is from commission.
Agent Intermediary who negotiates the terms of agreement or sale. Used in retailing and in sports & entertainment industry. Agents do not own the actual product.
AIDCA Formula A consumer’s mind process before a purchase is made; while unique to each person, same steps: 1. Attention, 2. Interest, 3. Desire, 4. Conviction, and 5. Action
Attention consumer must look at product; step one in the AIDCA formula
Interest consumer gains interest by learning benefits of ownership; step two in the AIDCA formula
Desire consumer learns how product fulfills needs; step three in the AIDCA formula
Conviction consumer is convinced that product will enhance lifestyle; step four in the AIDCA formula
Created by: lhardamon
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