Marketing Abbreviations MCQ questions and answers | GK Abbreviations

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).

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.

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).

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.

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.

Electronic commerce or e-commerce (sometimes written as eCommerce) is a business model that lets firms and individuals buy and sell things over the internet. E-commerce operates in all four of the following major market segments:
1. Business to business
2. Business to consumer
3. Consumer to consumer
4. Consumer to business

Efficient Consumer Response (ECR) is a joint trade and industry body working towards making the grocery sector as a whole more responsive to consumer demand and promote the removal of unnecessary costs from the supply chain.
There are four focus areas under ECR: demand management, supply management, enablers and integrators, which are intended to be addressed as an integrated set. These form the basis of the ECR Global Scorecard.

Discounted cash flow (DCF) is a valuation method used to estimate the value of an investment based on its expected future cash flows. DCF analysis attempts to figure out the value of an investment today, based on projections of how much money it will generate in the future.
This applies to the decisions of investors in companies or securities, such as acquiring a company, investing in a technology startup, or buying a stock, and for business owners and managers looking to make capital budgeting or operating expenditures decisions such as opening a new factory or purchasing or leasing new equipment

Direct response advertising (DRA) is a type of marketing strategy that compels a high-quality prospect to take immediate action and opt into the advertiser’s offer. It educates instead of selling. It costs very little to produce, and the results are measurable, making it ideal for small businesses.

Direct mail (DM) is a form of advertising relying on printed materials and the postal service to deliver advertising appeals directly to consumers.