Business vocabulary (esp. marketing, banking, finance)

consumer (buying) behavior
the process by which consumers search for, select, purchase, use, and dispose of goods and services, in satisfaction of their needs and wants
Neuromarketing is a field of marketing (consumer behavior) which uses medical technologies like Magnetic Resonance Imaging (MRI) to study the brain’s responses to marketing stimuli
cutting edge methods
at the forefront of people or things in a field of activity; leading; for example: cutting-edge technology
cause-related advertising; cause-related marketing
Joint funding and promotional strategy in which a firm’s sales are linked (and a percentage of the sales revenue is donated) to a charity or other public cause. However, unlike philanthropy, money spent in cause related marketing is considered an expense and is expected to show a return; more or less the opposite of commercial marketing
consumer/customer perception
A marketing concept that encompasses a customer’s impression, awareness and/or consciousness about a company or its offerings. Customer perception is typically affected by advertising, reviews, public relations, social media, personal experiences or other channels.
CIP (consumer information processing)
the process through which consumers are exposed to information, attend to it, comprehend it, place it in memory and retrieve it for later use
Cognitive map
mental representation of a physical location. Humans and animals use them to find their way and to help recall important features of the environment.
(women) shoppers are far less likely to make a purchase if they are “brushed” from behind by a person, a display table, or a piece of merchandise while examining retail goods (research by Paco Underhill)
An effort to influence consumer perception of a brand or product relative to the perception of competing brands or products. Its objective is to occupy a clear, unique, and advantageous position in the consumer’s mind
Result of efforts to make a product or brand stand out as a provider of unique value to customers in comparison with its competitors
impulse buying
Spur of the moment, unplanned decision to buy, made just before a purchase. Research findings suggest that emotions and feelings play a decisive role in purchasing, triggered by seeing the product or upon exposure to a well crafted promotional message
impulse goods
Retail items known for their unplanned purchases and, therefore, kept near the checkout counters, such as candy, chocolate, magazines, novelties, snacks.
shopping good
A higher end product occasionally bought by consumers that are usually compared for their appropriateness, quality, cost and features before purchase occurs.
Corporate identity
Combination of color schemes, designs, words, etc., that a firm employs to make a visual statement about itself and to communicate its business philosophy
consumer research
Part of market research in which the preferences, motivations, and buying behavior of the targeted customer are identified through direct observation, mail surveys, telephone or face to face interviews, and from published sources (such as demographic data).
Trial-and-error procedure for solving problems through incremental exploration, and by employing a known criteria to unknown factors. A heuristic employs independent discovery, and relies heavily on common sense, creativity, and learning from experience. Unlike an algorithm, however, it offers no guaranty of solving any problem.
market segmentation
The process of defining and subdividing a large homogenous market into clearly identifiable segments having similar needs, wants, or demand characteristics. Its objective is to design a marketing mix that precisely matches the expectations of customers in the targeted segment.
USP (unique selling proposition)
Real or perceived benefit of a good or service that differentiates it from the competing brands and gives its buyer a logical reason to prefer it over other brands.
marketing mix
A planned mix of the controllable elements of a product’s marketing plan commonly termed as 4Ps: product, price, place, and promotion.
These four elements are adjusted until the right combination is found that serves the needs of the product’s customers, while generating optimum income.
consumer terrorism
the practice of introducing dangerous substances to foodstuffs or other consumer products, esp to extort money from the manufacturers
product launch
The debut of a product into the market. The product launch signifies the point at which consumers first have access to a new product.
(business) venture
Start-up entity developed with the intent of profiting financially. A business venture may also be considered a small business.
to deposit
to place money in a bank or similar institution in order to earn interest
To provide money temporarily on condition that the amount borrowed be returned, usually with an interest fee
consumer driven
Offerings, plans, or strategies motivated by customer demand or expectations
to have a stake
to have a ​share or a ​financial ​involvement in something such as a ​business

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