Unit 3 - Planning a marketing strategy

Word

Example

marketing strategy

A strong marketing strategy ensures business growth

marketing plan

Our marketing plan outlines key promotional activities for the year

the four Ps

The four Ps stand for Product, Price, Place, and Promotion

product strategy

A product strategy focuses on meeting customer needs

pricing strategy

A successful pricing strategy balances profit and affordability

positioning strategy

Our positioning strategy highlights the brand's premium quality

competitive pricing

Competitive pricing helps attract cost-sensitive customers

premium pricing

Luxury brands use premium pricing to maintain exclusivity

penetration pricing

Penetration pricing helps new products gain market share

skimming pricing

Skimming pricing is used for innovative high-tech products

psychological pricing

Psychological pricing makes prices seem more attractive, e.g., $9.99

value-based pricing

Value-based pricing reflects the perceived worth of the product

cost-plus pricing

Cost-plus pricing adds a markup to the production cost

market segmentation

Market segmentation allows brands to target specific audiences

target audience

Identifying the target audience improves campaign effectiveness

unique selling proposition (USP)

A strong USP differentiates a product from competitors

brand positioning

Effective brand positioning creates a strong market presence

product differentiation

Product differentiation makes a brand stand out from competitors

marketing objectives

Clear marketing objectives help track business progress

customer value

A successful product must deliver high customer value

market penetration

Market penetration is a key goal for new brands

distribution channels

Choosing the right distribution channels ensures product availability

promotional mix

The promotional mix includes advertising, PR, and direct marketing

advertising campaign

Our latest advertising campaign increased brand awareness

sales forecast

An accurate sales forecast helps plan future growth

revenue growth

A well-planned marketing strategy leads to revenue growth

market share

Gaining a higher market share is our primary goal

competitive advantage

A unique product feature can create a strong competitive advantage

price elasticity

Understanding price elasticity helps optimize pricing strategies

loyalty programs

Loyalty programs encourage repeat customers

market demand

High market demand indicates strong consumer interest

brand awareness

Social media marketing boosts brand awareness

SWOT analysis

A SWOT analysis helps assess business strengths and weaknesses

marketing budget

Allocating a proper marketing budget ensures campaign success

promotional pricing

Promotional pricing helps boost short-term sales

B2B marketing

B2B marketing focuses on business-to-business sales

B2C marketing

B2C marketing targets individual consumers

marketing funnel

A well-optimized marketing funnel improves conversion rates

conversion rate

Improving the conversion rate leads to higher sales

call to action (CTA)

A strong CTA encourages customers to make a purchase

value proposition

A clear value proposition attracts potential buyers

brand equity

Strong brand equity increases customer trust

customer acquisition

Customer acquisition is essential for business expansion

public relations (PR)

A good PR strategy improves brand reputation

digital marketing

Digital marketing is crucial in today's online-driven world

SEO strategy

A strong SEO strategy improves website visibility