Marketing Abbreviations MCQ questions and answers | GK Abbreviations

BDI or Brand Development Index is a tool used to measure the relationship between the net sales of a particular brand in a particular market with respect to its population. The Brand Development Index is an index that relates the percent of a brand's sales in a market to the percent of total market.

An emotional selling proposition (ESP) defines all the emotional triggers that prompt a person to buy. It's quite different from a unique selling proposition (USP). A USP instead defines all the logical reasons to buy.
Emotion is the one thing that influences consumer behavior the most. So to be successful in your marketing efforts, sell the feelings your product provides, rather than selling the product explicitly.

Account based marketing (ABM) is a business marketing strategy that concentrates resources on a set of target accounts within a market. It uses personalized campaigns designed to engage each account, basing the marketing message on the specific attributes and needs of the account.

A Vertical Marketing system (VMS) comprises of the main distribution channel partners - the producer, the wholesaler and the retailer who work together as a unified group to serve the customer needs.
In conventional marketing system, the producer, wholesaler and the retailer worked separately with the intention to maximize their profits even at the expense of one another. This led to the unending conflicts between the channel partners resulting in less profits for the business as a whole.
In order to overcome these conflicts, several firms have started using a vertical marketing system wherein producers, wholesalers and retailers have joined hands with each other and are working in unison towards the accomplishment of the business objective as a whole. This has led to the increased profits for each involved in the channel of distribution

A target market is a group of customers within a business's serviceable available market at which a business aims its marketing efforts and resources. A target market is a subset of the total market for a product or service.
The target market typically consists of consumers who exhibit similar characteristics (such as age, location, income or lifestyle) and are considered most likely to buy a business's market offerings or are likely to be the most profitable segments for the business to service.

A subject matter expert (SME) is an individual with a deep understanding of a particular job, process, department, function, technology, machine, material or type of equipment.

A small and medium business (SMB) is a business that, due to its size, has different IT requirements - and often faces different IT challenges - than do large enterprises, and whose IT resources (usually budget and staff) are often highly constrained.
For the purposes of its research, Gartner defines SMBs by the number of employees and annual revenue they have. The attribute used most often is number of employees; small businesses are usually defined as organizations with fewer than 100 employees; midsize enterprises are those organizations with 100 to 999 employees.

A simulated test market, or STM for short, is a specific type of qualitative research that attempts to mimic a real-life purchase experience. It involves recruiting participants for one-on-one interviews with a market research professional. The interviews may take place at a specific store, location, or at a market research facility.

A search engine results page, or SERP, is the page you see after entering a query into Google, Yahoo, or any other search engine. Each search engine's SERP design is different, but since Google is the most popular it holds over 80% of the market share.

A search engine is a software system that is designed to carry out web searches. They search the World Wide Web in a systematic way for particular information specified in a textual web search query. The search results are generally presented in a line of results, often referred to as search engine results pages (SERPs) The information may be a mix of links to web pages, images, videos, infographics, articles, research papers, and other types of files. Some search engines also mine data available in databases or open directories. Unlike web directories, which are maintained only by human editors, search engines also maintain real-time information by running an algorithm on a web crawler.