by Quantified Marketing Group
Action Devices - Items and techniques used to encourage positive response, e.g. tokens, stickers.
Advertising - A paid message that seeks to persuade or influence people.
Applied Research
- Any research used to answer a specific question or gain better understanding,, determine
why something failed or succeeded or to, solve a specific, pragmatic problem.
Awareness - The familiarity people have with a product, brand name or trademark.
Basic Research - Research that expands knowledge, rather than solving a specific, pragmatic problem.
Brand
- A brand can be a company, product or service that has been given a
distinct identity. A brand at its purest form is the promise of a
company to its key constituents, such as shareholders, employees, guests
and its community.
Brand Associations - Components of brand image.
Brand Equity
- The level of awareness and consumer knowledge generated by a company’s
brands and/or products. Brand equity is best built by an alignment of a
company’s promise (or brand), and its execution and delivery of that
promise.
Branding Campaign-- A branding
campaign is a coordinated effort to educate key constituents on the
company’s brand (its “promise”) and to reinforce the perception of that
brand.
Census - A count of the entire population of related demographic information.
Census Tract
- Area within a zip code group denoting households with uniform social
and economic characteristics. Tracts generally have between 2,500 and
8,000 residents.
Collateral - As defined by
Webster’s, “collateral serves to support or corroborate something.” In
terms of marketing, it refers to marketing materials that support a
company, claim, product or service.
Competitor Analysis - Identifying your main competitors and researching their products, services, strategies, strengths and weaknesses.
Conclusions
- The outcome or result; The section of the final research report that
contains the interpretation of the data in light of the research
objectives.Consumer Expenditures - The amount consumers spend on goods
and services.
CPI (Consumer Price Index) -
Compares the current cost of purchasing a fixed set of goods and
services to the cost of the same set in a specific base year. The results can be compared throughout a certain period of time.
Culture - The assumed or shared set of values, beliefs, perceptions and behaviors within an organization.
Custom Marketing Research - Customized marketing research to address specific projects.
Customer Satisfaction Research
- Research conducted to measure the overall satisfaction with a product or
service with specific elements of the product or
service.
Data - The collection of observations.
Demographics
- Description of the vital statistics or objectives and quantifiable
characteristics of an audience or population. Demographic
designators include age, marital status, income, family size,
occupation, and personal or household characteristics such as gender,
income or education level.
Direct Advertising - Communication, whether by phone, fax, e-mail, etc., with individuals seeking a direct response.
Goals
- The aim of a broad, long-term purpose as opposed to objectives, which
are more explicit and relate to a specified time period.
Gross Income - The total amount of money before taxes and necessities are paid.
Internal Marketing
- The use of professional marketing systems and techniques within an
organization in order to facilitate communication and understanding.
In-company newsletters are an example. Internal marketing helps staff
communicate better with guests since they are better informed about the
company’s operations.
LSM (Local Store Marketing)
- A marketing philosophy that encourages you to direct the majority of
your marketing budget and efforts to activities within the restaurant, the property line and a 10-minute drive time to the
restaurant. Research indicates that 80 percent of a typical restaurant’s
guests live within a 10-minute drive, and consequently, this
represents the most fertile ground for attracting loyal guests.
Market - Total of all individuals or organizations that represent potential buyers.
Marketing
- The process of planning and executing the concept, pricing,
promotion and distribution of ideas, goods and services to create
exchanges that satisfy individual and organizational objectives.
Marketing Calendar
- A tool used to communicate
upcoming promotions and important events to all levels of staff so that
they are involved and informed. It is typically placed in a highly
visible location so that all employees stay aware and informed to
better assist them in answering questions and concerns from guests.
Marketing Concept - The business philosophy that a company’s efforts should adapt to the needs and wants of its customers/guests.
Marketing Management - The process of analyzing, planning, implementing and controlling the marketing programs.
Marketing Mix
- The unique blend of product pricing, promotion, offerings and
distribution designed to meet the needs of a specific group of guests.
Neighborhood Marketing
- Neighborhood marketing is essentially local store marketing. It is a
marketing philosophy that encourages you to direct the majority of your
marketing budget and efforts to activities within the restaurant, the property line and the 10-minute drive time to the
restaurant. Research indicates that 80% of a typical restaurant’s
guests originate within a 10-minute drive time and, consequently, this
represents the most fertile ground for attracting loyal guests.
New Product Development - The process of systematically researching, testing and producing new products and product variations.
Niche Marketing
- Marketing focused on relatively small sections of the market with
distinct characteristics. These areas may not have been well served in
the past, and represent an opportunity for improved sales.
Objectives - Specific, measurable outcomes or results that an organization plans to achieve in a given period of time.
Positioning - Location of a brand or product in consumers’ minds relative to competitive products.
Press Kit - A set of specifically prepared materials for the media about the company.
Press Release - A short piece of writing that conveys news about a company to a number of different media outlets.
Primary Research - Conducting research to collect new data to solve a need for marketing information need.
Promotion - Encouragement of the progress, growth or acceptance of something.
Publicity - Corporate or product promotion by means of public relations or advertising.
Relationship Marketing - The building and development of strong, meaningful relationships with guests in a systematic and professional way.
Sales and Marketing Database
- A database that has been specifically built for the needs of sales
and marketing professionals. Name, address and other information is
entered and then manipulated in order, for example, to process mailings
or profile guests.
Strategy - A broad plan of action by which an organization hopes to achieve one or more of its marketing objectives.
SWOT - Strengths, weaknesses, opportunities and threats – the four parameters used in analyzing your company or a specific project.
Tactic - A detailed, specific plan or course of action by which a strategy is to be implemented.
Target Marketing - The process of selecting particular individuals, groups or organizations that have similar profiles.
USP (Unique Selling Proposition)
- A feature or benefit of your product or service that is truly unique.
A company’s USP should clearly differentiate it from the competition.
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