proposition
/ˌprɑpəˈzɪʃən/A clear statement of the benefit a product offers that makes customers choose it.
Example: The company's value proposition is speed and reliability.
C120 words · Advanced
Marketing & Sales vocabulary — C1
Advanced marketing vocabulary for strategy, including product positioning, the sales funnel, brand equity and the value proposition behind a customer's journey.
20 questions
Words in this set
20positioning
/pəˈzɪʃənɪŋ/The way a brand is presented so customers see it differently from its competitors.
Example:
The brand's positioning focuses on luxury, not price.
attribution
/ˌætrɪˈbjuʃən/The process of identifying which marketing activity led to a sale or action.
Example:
Attribution data showed most sales came from email, not ads.
funnel
/ˈfʌnəl/The stages a customer moves through, from first hearing about a product to buying it.
Example:
Fewer visitors reached the bottom of the sales funnel.
retargeting
/riˈtɑrɡətɪŋ/Showing adverts again to people who have already visited a website or shown interest.
Example:
Retargeting ads reminded shoppers about items left in their basket.
cannibalization
/ˌkænəbəlɪˈzeɪʃən/When a new product takes sales away from a company's own existing product, rather than from rivals.
Example:
The cheaper model caused cannibalization of the flagship phone's sales.
affiliate
/əˈfɪliˌeɪt/A person or company that earns a commission by promoting another business's products.
Example:
Bloggers can earn money as an affiliate for the shop.
brand equity
The extra value a brand has because customers know and trust its name.
Example:
Years of good service built the company's strong brand equity.
share of voice
The percentage of all advertising or attention in an industry that belongs to one brand.
Example:
The new campaign boosted the brand's share of voice during the holidays.
customer lifetime value
The total profit a business expects to earn from one customer over their whole relationship.
Example:
Loyalty programmes aim to increase each shopper's customer lifetime value.
market segmentation
Dividing customers into groups with different needs.
Example:
Market segmentation found four groups where they had assumed one.
value proposition
The reason a customer should choose you over anyone else.
Example:
Their value proposition was price, and somebody was always cheaper.
brand architecture
How a company's brands relate to one another.
Example:
The brand architecture had eleven names for four products.
customer journey
The whole sequence of a customer's dealings with a company.
Example:
The customer journey had nine steps and four of them were forms.
earned media
Coverage a brand gets without paying for it.
Example:
One video produced more earned media than the whole campaign.
penetration pricing
Setting a low price to win market share quickly.
Example:
Penetration pricing bought the customers and never let go of them.
price elasticity
How much demand changes when the price changes.
Example:
Price elasticity on that line turned out to be almost zero.
brand advocate
A customer who actively recommends a brand to others.
Example:
Every brand advocate was worth about nine ordinary customers.
above the line
Advertising aimed at a mass audience rather than individuals.
Example:
Above the line spending was cut and nobody noticed.
share of wallet
The proportion of a customer's spending that goes to you.
Example:
Share of wallet matters more than the number of customers.
