Every industry has their own technical jargons which a layman may know or not know, but the companies while pitching a client use them in abundance sometimes to prove that how efficient they are and sometimes just to baffle the client. But worry not. Here is a compilation of some commonly used marketing terms which you can hear at abundance while inviting marketing agencies for pitches. So next time you hear these terms, you need not look confused and baffled.
Brand- It is a very commonly used and heard term and people often think that it has only to do with your business name and logo. But there is something more to it. It is actually what is the people or rather customers’ reactions towards your brand and influence of your business name and logo on the buying behavior of the customers.
Brand Positioning- It is where your brand fits within the target segment. Say you have a clothing business and you make fashionable clothes in lower budget. Therefore your target segment is the people with lower money power but high on fashion. So that’s where your brand is positioned as the one where you can get all the fashions in cheap rate.
Challenger Brand- It is a competitor brand of course but is a new entrant in the market and gradually soaring high in the segment dominated by the established brands.
ATL & BTL marketing- Another two very commonly used and heard terms. ATL stands for “Above the Line” marketing which you do by extensive advertising in form of commercial ads in broadcast mediums, hoarding, brochure, pamplets. BTL on the other hand stands for “Below the Line” marketing which is done on the ground level i.e. by actually interacting with the potential customers and propagating the brand like various games, activities in the malls, CSR, etc.
Digital marketing- It is the marketing strategy of promoting your brand online. With the present generation becoming more and more internet-savvy, brands, these days, need to give enough attention to its promotions in the virtual world just alike the real world. Digital marketing is the way of popularizing your brand to the internet users.
There are many more terms which are increasing getting influxed in the marketing world each day. We will come up with them in the later posts. Till then, just be happy. Bye Bye!