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BO Chapter 4
| Term | Definition |
|---|---|
| Advertising Effectiveness | A method used to determine if a brand's marketing efforts are hitting the mark with its target audience and whether it's getting the best returns |
| Business Plan | A document setting out a business's future objectives and strategies for achieving them |
| Business Point of View | The way that a brand views the world and looks at certain situations |
| Change Agent | Someone who promotes and enables change to happen within any group or organization. |
| Common Barriers to Entry | Factors that can prevent or impede newcomers into a market or industry sector |
| Decision Maker | A person who makes important decisions. |
| Economic | Based on the production, distribution, and consumption of goods and services |
| Focus Groups | A diverse group of people assembled to participate in a guided discussion about a particular product before it is launched, or to provide ongoing feedback on a political campaign, television series, etc. |
| Fortune 500 Companies | An annual list of 500 of the largest US companies ranked by total revenues for their respective fiscal years |
| Frequency | The rate at which something occurs or is repeated over a particular period of time or in a given sample |
| Industry Norms | A set of criteria within an industry relating to the standard functioning and carrying out of operations in their respective fields of production. |
| Market Place | An open space where a market is or was formerly held in a town. |
| Marketing Plan | The advertising strategy that a business will implement to sell its product or service |
| Media Mix | The blend of paid communication channels that an organization uses to get its messaging and brand across to potential customers |
| Reach | The measurement of the size of the audience that has seen your ads or campaign content. |
| Rules | Describe the operations, definitions and constraints that apply to an organization |
| Target | specific group of potential customers who a business aims to reach with its products or services |
| Theme | A core objective of a product, specifying how it delivers value to the end-user. |
| Trade-Offs | A sacrifice that must be made to obtain a desired product or experience |
| Unique Value Proposition | he core benefit or solution that differentiates your product or service from the competition and positions it as the best possible option on the market. |
Created by:
pwood24
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