Some Unusual Important Marketing Terms for Banking Exams --- 1. Point of Purchase: Point of Purchase or POP can be the ‘brick and mortar’ store, like the ‘local mom and pop stores – as in the kiraana stores’ or can be virtual like Amazon/ Flipkart where goods or services are sold online over the internet. POP is any place where sales/ purchase are made – and it is usually understood to be a shop/mall. 2. Point of Sale: or, POS, and now-a-days known as Electronic Point Of Sale (EPOS), is where a retails purchase/sale transaction is completed. The counter at retail shops where items are billed and payment is made, the checkout point on online shopping sites are POS/EPOS. 3. Perceived Value: is the value of/in any product of service which is proposed to be given by a company – and which is understood by a consumer to be received from such product or service as proposed by the company 4. Consumer Perceived Value: is the perceived value of the consumer taking into consideration the benefits to be received and cost to be incurred on such product/service. 5. Conjuctive Heuristic: is the terms used to express the phenomenon where a consumer always goes for the first alternative that meets the minimum requirements/standards what is set in the consumers mind. Cold cream? Ponds – but there are others like Nivea/Joy Fruits etc. available too! Shoes? Bata – but other brands like Mochi/Liberty/Woodland etc. are available too. 6. Consumerist Movement: is an organized movement of consumers and Government to strengthen the rights and powers of buyers in relation to sellers. 7. Holistic Marketing: is a concept based on the development, design and implementation of marketing programs, processes and activities that recognizes the concept that a business as one entity (brand + image + product) should find a solid place in the market, the society, and in the minds and lives of the customers. 8. Market Opportunity Analysis (MOA): is a term used to denote the process of analyzing potential market’s future worthiness – if market will remain active for a long time, will company get enough returns and customers from the market etc. 9. Micro Sales Analysis: is the examination of specific products/ territories/ region/ segment which failed to produce expected sales level. 10. Marketing Public Relations: is connecting with the public to increase sale through PR activities. This is done to build corporate or brand image and ultimately increase sales volume and ensure a thriving and ever increasing consumer base
Posted on: Tue, 11 Nov 2014 15:40:43 +0000
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