Marketing glossary

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Marketing

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The action or business of promoting and selling products or services, including market research and advertising.

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Marketing environment

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The external factors that affect a company's ability to meet its marketing goals.

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Accounting

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The process of recording financial transactions pertaining to a business.

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Finance

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The management of large amounts of money, especially by governments or large companies.

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Human Resources

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The department of a business or organization that deals with the hiring, administration, and training of staff.

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Marketing strategy

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A business's overall game plan for reaching prospective consumers and turning them into customers of their products or services.

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Strategic planning

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An organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy.

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Marketing manager

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A professional responsible for developing, implementing, and executing strategic marketing plans for an entire organization.

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Customer value

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The satisfaction a consumer feels after making a purchase for goods or services relative to what they must give up to receive them.

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Value creation

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The performance of actions that increase the worth of goods, services or even a business.