Strategic Business & Marketing Fundamentals
Essential Business & Personal Attributes
This section outlines key personal and professional attributes, often accompanied by their Spanish translations, crucial for success in various domains.
- Accountability (responsabilidad)
- Accuracy (exactitud)
- Achievement (logro)
- Belonging (pertenencia)
- Boldness (atrevimiento)
- Assertiveness (firmeza)
- Cheerfulness (alegría)
- Clear-mindedness (mente clara)
- Commitment (compromiso)
- Contentment (alegría)
- Correctness (exactitud)
- Courtesy (cortesía)
- Decisiveness (firmeza)
- Dependability (fiabilidad)
- Effectiveness (eficacia)
- Efficiency (eficiencia)
- Excitement (excitación)
- Expertise (experiencia)
- Fairness (legitimidad)
- Faith (certeza)
- Fluency (fluidez)
- Grace (elegancia)
- Growth (crecimiento)
- Holiness (santidad)
- Inner Harmony (armonía interior)
- Inquisitiveness (curiosidad)
- Insightfulness (perspicacia)
- Leadership (liderazgo)
- Legacy (legado)
- Mastery (dominio)
- Openness (franqueza)
- Reliability (confiabilidad)
- Resourcefulness (habilidad-recursos)
- Restraint (control)
- Selflessness (egoísmo-interés propio)
- Self-reliance (autosuficiencia)
- Shrewdness (astucia)
- Soundness (solvencia)
- Speed (rapidez)
- Strength (fuerza)
- Temperance (carácter / actitud)
- Thankfulness (gratitud)
- Thoroughness (perfeccionismo/minucioso)
- Thoughtfulness (consideración)
- Timeliness (oportunidad)
- Trustworthiness (confianza)
- Truth-seeking (buscando la verdad)
- Uniqueness (originalidad)
Product & Market Descriptors
These terms describe product characteristics and market positioning, often used in marketing and sales contexts.
- Latest Design (último modelo)
- Dependable (fiable)
- Top of the Range (lo mejor de la marca)
- Inexpensive (barato)
- Value for Money (calidad-precio)
- Much-Vaunted (más aclamado)
- Rock Bottom (precio más bajo)
Key Marketing Terminology
Understanding these fundamental marketing terms is essential for effective market research and strategy development.
- Relevant Response (useful answer): A helpful and pertinent answer.
- Skewed Samples: A simple survey group which is not typical of a target group.
- Prototype: A model of a product in development.
- Response Rate: The percentage of people who complete a survey.
- Target Group: The group of people a company wants to sell to.
- User Profile: Information known about a customer.
Pricing Strategies Explained
Different approaches to setting product prices based on market conditions, product type, and business objectives.
- Captive Product Pricing: Pricing one item very low and its complement very high (e.g., printers and ink cartridges).
- Economy Pricing: Pricing goods/services as cheaply as possible.
- Geographical Pricing: Pricing according to the area where goods are sold.
- Premium Pricing: Charging a high price for a unique, high-quality item.
- Price Skimming: Charging a high price for an item where you have a competitive advantage.
Customer Market Segmentation
Dividing a broad consumer or business market into sub-groups of consumers based on shared characteristics.
Geographic Segmentation
- Region
- Size of metropolitan area
- Population density
- Climate
Demographic Segmentation
- Age
- Gender
- Family size
- Life-cycle stage
- Income
Psychographic Segmentation
- Activities
- Interests
- Opinions
- Attitudes
- Values
Understanding Brand Concepts
Core definitions related to brand identity, perception, and value in the marketplace.
- Brand Value: What a brand is called.
- Brand Awareness: How much people are aware of a brand.
- Brand Identity: What a company wants people to think about a brand.
- Brand Image: What people actually think about a brand.
- Off-Brand: When a product doesn’t fit the company’s brand.
- Brand Equity: The value that a brand adds to a product or service.
- Brand Loyalty: When people like a brand and buy it again and again.
- Branding: When a product or service is associated with a brand.
- Brand Extension: When an existing brand is used to support a new range of products.
- Derived Brand: When a component of a product becomes a brand in its own right.