Marketing Abbreviations

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “C” is correct.
The Fortune 500 is an annual list compiled and published by Fortune magazine that ranks 500 of the largest United States corporations by total revenue for their respective fiscal years. The list includes publicly held companies, along with privately held companies for which revenues are publicly available.[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “C” is correct.
The cost per sale (CPS), also known as the pay per sale, is a metric used by advertising teams to determine the amount of money paid for every sale generated by a specific advertisement. Understanding and tracking the CPS allows advertisers to take steps to reduce their costs, thus increasing profit and optimizing productivity.
The CPS can be calculated by dividing the total amount of money the company spent on the ad campaign (the cost) by the sum of all sales made.[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “A” is correct.
The category development index (CDI) measures the sales performance of a category of goods or services in a specific group, compared with its average performance among all consumers. By definition, CDI measures the sales strength of a particular product category within a specific market (e.g., soft drinks in 10-50 year olds).[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “C” is correct.
The breakeven point (BEP) for a trade or investment is determined by comparing the market price of an asset to the original cost; the breakeven point is reached when the two prices are equal.
In corporate accounting, the breakeven point formula is determined by dividing the total fixed costs associated with production by the revenue per individual unit minus the variable costs per unit. In this case, fixed costs refer to those which do not change depending upon the number of units sold. Put differently, the breakeven point is the production level at which total revenues for a product equal total expenses.[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “A” is correct.
The ATAR acronym (Awareness, Trial, Availability, Repeat), is based on the concept of ‘Diffusion of Innovation’. For someone to be considered a reliable customer of a new product or service, they must first know it exists (Awareness). Once someone is aware of the existence of the new product, they need to opt to try it out (Trial). After someone has opted to try it out, they need to be able to actually purchase the product (Availability). If they are happy with the experience, they may adopt the product and become repeat buyers (Repeat).[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “A” is correct.
Social media marketing (SMM) is the use of social media platforms and websites to promote a product or service. Although the terms e-marketing and digital marketing are still dominant in academia, social media marketing is becoming more popular for both practitioners and researchers. Most social media platforms have built-in data analytics tools, enabling companies to track the progress, success, and engagement of ad campaigns. Companies address a range of stakeholders through social media marketing, including current and potential customers, current and potential employees, journalists, bloggers, and the general public.[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “A” is correct.
Social media is a computer-based technology that facilitates the sharing of ideas, thoughts, and information through the building of virtual networks and communities. By design, social media is Internet-based and gives users quick electronic communication of content. Content includes personal information, documents, videos, and photos. Users engage with social media via a computer, tablet, or smartphone via web-based software or applications.[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “B” is correct.
SEO stands for “search engine optimization”. In simple terms, it means the process of improving your site to increase its visibility when people search for products or services related to your business in Google, Bing, Yahoo and other search engines. The better visibility your pages have in search results, the more likely you are to garner attention and attract prospective and existing customers to your business.[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “B” is correct.
Search engine marketing (SEM) is a form of Internet marketing that involves the promotion of websites by increasing their visibility in search engine results pages (SERPs) primarily through paid advertising. SEM may incorporate search engine optimization (SEO), which adjusts or rewrites website content and site architecture to achieve a higher ranking in search engine results pages to enhance pay per click (PPC) listings.[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “D” is correct.
Sales force automation (SFA) is when parts of the sales process are automated by software tools. The automation usually focuses on repetitive, administrative tasks that, while important, can be time-consuming for sales teams to perform.[/bg_collapse]