BTEC Level 3 Business Studies. Unit 2: Developing a Marketing Campaign

Behavioral segmentation - Grouping consumers into segments based on consumer knowledge, attitudes, uses of a product, or responses to a product.

Brand - A distinctive name, symbol, or shape that distinguishes a product from those offered by competitors.

Brand awareness - How familiar people are with a brand's image and characteristics.

Brand image - The idea/ impression/ image that customers have in their minds about the brand.

Brand loyalty - Demonstration of consumer preference of a brand through favourable attitudes and consistent purchases over time.

Brand personality - A collection of human traits and characteristics associated with a brand.

Business culture - The shared beliefs and values of people within an organisation.

Campaign budget - The amount money the business allocates to spending on a marketing campaign.

Campaign rationale - Explanations of the decisions made in a marketing campaign.

Cost of the campaign - The whole cost of advertising of a project, including the cost of developing creativity and purchasing media.

Demand - Consumer willingness and ability to purchase goods.

Demographic segmentation - Grouping consumers by age, gender, income, ethnic background, and family life cycle.

Diversification - A strategy of increasing sales by introducing new products into new markets

Economic factors - Factors that can affect the financial status and decision-making of a business and its stakeholders such as fiscal policy and interest rates.

Environmental factors - Aspects of the physical environment that have an impact on business activity including weather and availability of resources.

Ethical factors - The moral beliefs and values held by the external stakeholders of a business.

External influences - Factors in the environment outside of the business. They cannot be controlled but should be investigated and responded to.

Geographic segmentation - Grouping consumers on the basis of where they live such as different countries or regions.

Internal influences - Things that can have an impact on a company's performance and marketing efforts but are under management's control.

Legal factors - The laws that affect the way businesses operate and how consumers behave such as employment law and customer protection law.

Market segmentation - Dividing a market into discrete buyer groups with diverse demands, traits, or behaviours that may necessitate separate products or marketing programmes.

Market share - A company's product sales as a percentage of the total sales for that industry

Marketing - Activities carried out by a firm to promote the purchase or sale of a product or service

Marketing Campaign - The set of measures taken to promote a new or changed product or service, or to experiment with new marketing channels and tactics.

Marketing objectives - A set of targets established by marketing managers to achieve in a marketing campaign.

Mass market - The market for goods that are produced in large quantities.

Need - Something essential for survival such as food or medical care.

Niche market - A smaller part of a larger market in which customers have more specific needs and wants

Political factors - Government decisions and control have an impact on business such as regulations and freedom of speech.

Profitability - A campaign's ability to convert inputs such as time and money into profit

Psychographic segmentation - Grouping consumers into different segments based on social class, lifestyle, or personality characteristics.

Social factors - Lifestyles and behaviours of customers or potential customers including taste in fashion, food and diet choices and other trends.

Technological factors - Developments in IT and communications in the environment in which the business operates. This may include 5G, improvements to machinery and robotics, and CAD/CAM.

Unique selling point - Any quality or feature of a product that distinguishes it from the competitors. Firms will frequently seek to emphasise this in their marketing.

Wants - Something that consumers desire but is not essential for survival.

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