| A | B |
|---|
| term | definition |
| advertising | paid, non-personal communication between an identified sponsor and a potential customer about a product or service (p. 286) |
| balance sheet | shows the companys current assets, including cash, property, and equipment, and its current liabilities, including debts owned and loans (p. 306) |
| brand recognition | refers to the number of people who recognize the brand name of the product (p. 287) |
| budget | begins the marketing plan process by providing estimates of expected expenditures and revenues (p. 306) |
| concentrated strategy | buying space or time on a single medium (p. 289) |
| data mining | collecting data about which people travel, where, and when (p. 22); digging up data needed for market research to make decisions (p. 293) |
| dominance strategy | a firm buys the maximum reach and frequency in one medium and purchases additional space in or time on other media (p. 289) |
| forecast | predicts the cost of expenses and expected revenues from the event (p. 306) |
| frequency | number of times the target customer is exposed to the media |
| income statement | a record of all revenue received and all expenses incurred (p. 306) |
| marketing plan | a written component of the strategic plan that addresses how the company will carry out the key marketing functions (p. 298) |
| marketing research | the process of determining what customers want (p. 293) |
| mass market | broad categories of people that firms develop strategies for using TV marketing (p. 292) |
| media | vehicles used to convey the advertising message (p. 288) |
| media strategy | choosing the media that will bring the most effective advertising message to the targeted consumer (p. 288) |
| mission statement | the identification of the nature of the business or the reasons the business exists (p. 298) |
| personal seat license (PSL) | a fan pays a fixed fee to obtain the right to buy season tickets (p. 304) |
| profit | the amount of money remaining after all costs, including salaries, advertising, utilities, and other expenditures have been paid (p. 303) |
| reach | targeted demographic segments that are most likely to be reached, a factor in setting the media strategy (p. 288) |
| response rate | refers to the number of customers who connect with and act in relation to the ad (p. 289) |
| tag line | the theme of the ad (p. 287) |
| wear out | occurs when an ad loses its effectiveness due to overexposure or poor message quality (p. 288 |
