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Description
Flashcards by Lisa Holmes, updated more than 1 year ago
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Created by Lisa Holmes
over 6 years ago
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| Question | Answer |
| Market segmentation | The process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers (known as segments) based on some type of shared characteristics. |
| Purchase funnel | Awareness – customer is aware of the existence of a product or service Interest – actively expressing an interest in a product Desire – aspiring to a particular brand or product Action – taking the next step towards purchasing the chosen product |
| Sales Promotions | They are short term incentives or action communications to encourage sales / product purchase. Limited time and space, offer better value for money, and attempt to provoke an immediate behavioural effect. |
| Upselling | offering a pricier version of the item |
| Cross Selling | Recommending a product relevant to the one that’s already in their basket |
| SEM | Search engine marketing (SEM) is a form of Internet marketing that involves the promotion of websites by increasing their visibility in search engine results pages (SERPs) primarily through paid advertising |
| CTR | Click Through Rate % of times an ad has been clicked on in terms of ad views |
| CPA | Cost Per Acquisition The average cost of acquiring a new customer. Calculated by dividing campaign spend by the number of new customers |
| Open Rate | % of recipients that open your email newsletter. Calculated as number of opens in terms of mails sent |
| Influencer Marketing | Identifying individuals that have influence over potential customers, and orients marketing activities around these influencers |
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