Marketing Abbreviations

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “C” is correct.
Personal Identifiable Information (PII) is defined as any representation of information that permits the identity of an individual to whom the information applies to be reasonably inferred by either direct or indirect means. Further, PII is defined as information: (i) that directly identifies an individual (e.g., name, address, social security number or other identifying number or code, telephone number, email address, etc.) or (ii) by which an agency intends to identify specific individuals in conjunction with other data elements, i.e., indirect identification. (These data elements may include a combination of gender, race, birth date, geographic indicator, and other descriptors).[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “A” is correct.
Pay Per Impression refers to an Internet marketing advertising model which defines how the payment will be done for every time client’s advert is displayed.
Through this method, the advertiser pays for the number of times the advertisement is displayed on the publisher’s website. Prices are generally set per one thousand page impressions.[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “D” is correct.
Pay per action or PPA is a form of advertising that is closely related to pay per click or PPC, but with a very specific difference. That difference is that PPA means that you only pay when the user carries out a particular action.[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “A” is correct.[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “C” is correct.
Multilevel marketing (MLM) is a strategy some direct sales companies use to encourage existing distributors to recruit new distributors who are paid a percentage of their recruits’ sales. The recruits are the distributor’s “downline.” Distributors also make money through direct sales of products to customers. Amway, which sells health, beauty, and home care products, is an example of a well-known direct sales company that uses multilevel marketing.[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “A” is correct.
Lifetime Value (LTV) is a prediction of the net profit attributed to an ongoing relationship between customer and product. By providing a running estimate on how much a particular consumer is likely to spend on that app, LTV helps set marketing budgets and ensures that companies pursue the most effective users.
If a company can predict a user’s lifetime value successfully, it provides marketers with a much better base on which to make decisions – helping a company maximize the effectiveness of its advertising spending. The term itself is also known as customer lifetime value (CLV or CLTV) and lifetime customer value (LCV).[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “D” is correct.
Integrated marketing communications can be defined as the process used to unify marketing communication elements, such as public relations, social media, and advertising, into a brand message that remains consistent across distinct media channels. It allows public and private organizations and businesses to deliver an engaging and seamless consumer experience for a product, service, or the organization itself. Professionals with a background in integrated marketing might pursue employment throughout the marketing and communications industries, in areas such as social media marketing, digital media, journalism, market research and consulting, public relations, non-profit and government, entertainment, television and radio, and other related fields.[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “C” is correct.
In marketing, the unique selling proposition (USP), also called the unique selling point, or the unique value proposition (UVP) in the business model canvas, is the marketing strategy of informing customers about how one’s own brand or product is superior to its competitors (in addition to its other values).[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “A” is correct.
In business and engineering, new product development (NPD) covers the complete process of bringing a new product to market, renewing an existing product or introducing a product in a new market. A central aspect of NPD is product design, along with various business considerations. New product development is described broadly as the transformation of a market opportunity into a product available for sale. The products developed by an organisation provide the means for it to generate income. For many technology-intensive firms their approach is based on exploiting technological innovation in a rapidly changing market.[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “A” is correct.
Fast-moving consumer goods are products that sell quickly at relatively low cost. These goods are also called consumer packaged goods.
FMCGs have a short shelf life because of high consumer demand (e.g., soft drinks and confections) or because they are perishable (e.g., meat, dairy products, and baked goods). These goods are purchased frequently, are consumed rapidly, are priced low, and are sold in large quantities.[/bg_collapse]