Marketing Glossary
Brand Equity
Brand equity is a set of assets or liabilities in the form of brand visibility, brand associations and customer loyalty that add or subtract from value of a current or potential product or service driven by the brand. It is a key construct in the management of not only marketing, but also business strategy.[1]
Branding Value
Claritas Prizm Premium
This reference is excellent for Claritas.
- ↑ file:///C:/Users/rngerm01/Downloads/Claritas%20PRIZM%20Premier%20Segment%20Narratives%202019-EA.pdf
Brand value...is the financial worth of the brand. To determine brand value, businesses need to estimate how much the brand is worth in the market – in other words, how much would someone purchasing the brand pay?[1]
See Brand Value for additional details.
Marketing Mix
The marketing mix refers to the combination of place, price, promotion, and product offered by a firm the the market. The marketing mix is often referred to as the 4Ps.[1]
Positioning Statement
A positioning statement is a brief description of a product or service and target market, and how the product or service fills a particular need of the target market. It's meant to be used as an internal tool to align marketing efforts with the brand and value proposition.[1]
A additional source of good material on positioning statements and taglines is provided by MerlinOne, self described as an "AI-Centric Digital Asset Management Software" company.[2]
Stock Keeping Units (SKUs)
SKU refers to a 'unique numerical identifying number that refers to a specific stock item in a retailer's inventory or product catalog.'[1] A specific brand of ranch salad dressing in six different sizes would represent six SKUs.[2]
Supply Chain Management (SCM)
The Council of Supply Chain Management Professionals states that: Supply chain management encompasses the planning and management of all activities involved in sourcing and procurement, conversion, and all logistics management activities. Importantly, it also includes coordination and collaboration with channel partners, which can be suppliers, intermediaries, third party service providers, and customers. In essence, supply chain management integrates supply and demand management within and across companies.[1]
Tagline
A tagline is a catchy quip that evokes an image of your brand in the minds of your customers. Taglines enable people to make lighthearted associations with your business: "When I see [tagline], I think [company]." [1]