Key Terms
Marketing plan: a written document that details the necessary actions to achieve one or more marketing objectives.
Marketing objectives: goals that must be achieved in order to capture a larger customer group, satisfy customer needs, and identify opportunities to spread brand awareness or reinforce its reputation.
Campaign objective: a defined goal that acts as a subordinate to a marketing initiative and provides direction to the team so that they can reach their marketing objectives.
Strategy: a plan of action intended to accomplish a specific goal. Strategies within any business in relation to marketing, have different levels in which all should be connected including the business strategy, marketing strategy, and IMC strategy.
Push strategy: used to ensure the consumer is aware of the existence of the product.
Pull strategy: motivates customers to seek out a product or service.
Marketing tactic: a technique or tool that the organization can utilize to achieve its marketing strategy.
Demographics: basic information about the target audience such as age, sex, job, income, education, % of population
Geographics: where the target audience lives, works, spends their time
Psychographics: values and mindset of the target audience, what they believe and how they think/feel about the world around them
Behavioural: how the psychographics of the target audience affects their behaviour – where they shop, what they prefer, causes they support
Touchpoint: a point at which a potential customer or existing customer comes into contact with an organization or brand.
Timeline: scheduling system used by an organization to accomplish tasks within a specified time period
Top-down budgeting: budgeting method in which top management sets the overall amount the company will spend on promotional activities for the year, which is then allocated among all of the advertising, PR, and other promotional programs.
Bottom-up budgeting: budgeting method in which an organization starts each year with a clean slate, first identifying promotional goals (regardless of past performance) and allocating enough money to achieve those goals.
Objective-task budgeting: the most common budgeting method in which a company sets the objective or task they want the promotion to achieve, then estimates the budget needed to achieve it; top management reviews and approves the budget recommendation.
Key performance indicators: metrics that will be used to evaluate the effectiveness of the IMC campaign.
In-house operations: when organizations make use of their own personnel and team to conduct activities rather than working with others outside of the campaign.
Outsourcing: the delegation of key management areas to outside vendors, contractors or suppliers, usually on a relatively long-term basis
Content calendar: a list or template for all of the posts and content that your organization or NPO plans to upload over a specific duration of time.
Gig Economy: an institutional basis and production activity that allows individuals to enter into a certain industry and generate income without having a formalized employment relationship based on work contracts.
