Friday, November 2, 2012

Marketing Glossary

Media analysis

Media analysis is a term used in advertising. It refers to an investigation into the relative effectiveness and the relative costs of using the various advertising media in an advertising campaign

Micro forecasting

Micro forecasting is concerned with detailed unit sales forecasts. This is about determining a product’s market share in a particular industry and considering what will happen to that market share in the future

Mission

A mission describes the organisation’s basic function in society, in terms of the products and services it produces for its customers.

Mission statement

 A mission statement is a formal description of the mission of a business.

Multi-channel marketing
When a business distributes its products through more than one distribution channel, this is known as multi-channel marketing. Retail chains, for example Argos, besides using the shops to distribute their products, quite often also use catalogue selling. The main purpose of multi-channel marketing is to more effectively reach different customer segments