If you are just starting your career in the marketing field, there is a lot of marketing lingo that you may be unfamiliar with. This is unfortunate, as many of these marketing terms are must know for even the most entry-level marketing positions. Learn the key marketing vocabulary you need to know for a career in marketing below.
A/B testing is a process of comparing to types of a single variable to determine which perform best. These A/B tests are done to help improve marketing outcomes. A/B testing is traditionally done with email marketing, calls to action or landing pages. This is a must know term for any marketing professionals just starting out, especially because there will be plenty of reasons for email marketing in the modern marketing environment.
Brand identity is the message a company hopes to delivery to the consumer. Consumers gain an idea of a business brand identity from the product it sells. A company’s brand identity is what impacts product recognition. Much of marketing is working to define brand identity and improve brand recognition. This is one of the most important marketing terms to become familiar with.
A competitive matrix is a chart that compares a company’s product or service to that of its competitors. This a technical aspect of marketing strategies used in mobile app development and more. Competitive matrices are used to help a business separate itself from the competition, which is a large part of marketing. Make sure you know what a competitive matrix is and how they are compiled.
Distribution channels are the institutions through which a company’s goods or services are marketed. A distribution channel is a business or intermediary that a product passes through to reach the consumer. These distribution channels include wholesalers, retailers, distributors and the internet. There are two types of channels, direct and indirect. If you want to learn how to become a marketing professional, understanding distribution channels is a must.
White papers are a group of papers with detailed research on a given product or service. These documents are intended to establish credibility with the reader. They can also be used to provide insight into the capabilities of a company, service or product. However, they are not effective uses for ad targeting or similar types of advertising. White papers are one of the most common marketing terms you will hear. Make sure to remember what it means.
If you are just starting your marketing career or marketing internships, there are some must-know marketing terms that you should familiarize yourself with. The marketing definitions listed above are just a few of the many that you will need to know to have a successful career in the marketing sector. Make sure to build your marketing vocabulary beyond the fundamental definition of marketing. This will help to set you apart from other professionals just starting out. That will certainly help set you up for a long, lucrative and successful career in marketing.
Photo from http://historycooperative.org/the-evolution-of-marketing-from-trade-to-tech/