Small Business Encyclopedia

Category: Marketing

Competition

Definition: Rivalry in business, as for customers or markets

Competitive Analysis

Definition: Identifying your competitors and evaluating their strategies to determine their strengths and weaknesses relative to those of your own product or service

Competitive Intelligence

Definition: The process of gathering actionable information on your business's competitive environment

Competitive Matrix

Definition: A chart that compares your product or service to your competitor(s)

Affiliate Marketing

Definition: A way for a company to sell its products by signing up individuals or companies ("affiliates") who market the company's products for a commission

Focus Group

Definition: A controlled group interview of a target audience demographic, often led by a facilitator. A set series of questions or topics are covered, and the results are used to guide marketing efforts.

Guerrilla Marketing

Definition: An unconventional way of performing marketing activities on a very low budget

Image

Definition: The perception people have of your business when they hear your company name. A business's image is composed of an infinite variety of facts, events, personal histories, advertising and goals that work together to make an impression on the public.

Branding

Definition: The marketing practice of creating a name, symbol or design that identifies and differentiates a product from other products

Business Card

Definition: A small card identifying a person in connection with his or her business, given to a client, potential customer, etc.

E-Mail Marketing

Definition: Marketing via e-mail, usually through the use of sales letters or customer newsletters

Positioning

Definition: How you differentiate your product or service from that of your competitors and then determine which market niche to fill

Logo

Definition: A recognizable graphic design element, often including a name, symbol or trademark, representing an organization or product

Primary Market Research

Definition: Iinformation that comes directly from the source--that is, potential customers. You can compile this information yourself or hire someone else to gather it for you via surveys, focus groups and other methods.

Mailing List

Definition: A collection of names and addresses used by a company to send material to multiple recipients. On the internet, mailing lists include each person's e-mail address rather than a postal address.

Marketing Campaign

Definition: A specific, defined series of activities used in marketing a new or changed product or service, or in using new marketing channels and methods

Marketing Materials

Definition: The printed pieces, such as brochures, letterhead and business cards, you'll use to market your business

Marketing Plan

Definition: The written document that describes your advertising and marketing efforts for the coming year; it includes a statement of the marketing situation, a discussion of target markets and company positioning and a description of the marketing mix you intend to use to reach your marketing goals

Telemarketing

Definition: Use of the telephone to market goods or services directly to prospective customers

Niche Marketing

Definition: A portion of a market that you've identified as having some special characteristic and that's worth marketing to

Secondary Market Research

Definition: Market research that's already compiled and organized for you. Examples of secondary information include reports and studies by government agencies, trade associations or other businesses within your industry.

Slogan

Definition: A catch phrase or small group of words that are combined in a special way to identify a product or company

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About Encyclopedia

No matter what business topic you're interested in, you'll find our category list is an easy way to navigate our small-business encyclopedia. From Accounting and Advertising to Location and Operations, every topic offers information on the terms that matter most. And if you can't find what you need here, our "Terms A - Z" list makes tracking down terms a snap.

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