Marketing Abbreviations MCQ questions and answers | GK Abbreviations

"PEST" stands for Political Economic Social and Technological. PEST Analysis (political, economic, social and technological) is a management method whereby an organization can assess major external factors that influence its operation in order to become more competitive in the market. As described by the acronym, those four areas are central to this model.

"MKT" stands for Marketing. Marketing refers to activities a company undertakes to promote the buying or selling of a product or service. Marketing includes advertising, selling, and delivering products to consumers or other businesses. Some marketing is done by affiliates on behalf of a company.

"AIDA" stands for Attention, Interest, Desire and Action. The AIDA model is widely used in marketing and advertising to describe the steps or stages that occur from the very first moment a consumer is aware of a product or brand to the actual moment the purchase is made. The first stage of the buying process is making the consumer aware of the product. To bump prospects up to the second stage, you must develop the potential buyer's Interest in the product or service. In the third stage of AIDA, prospects realize that the product or service is a good fit and will help them in some way. The fourth and last stage of AIDA occurs when the prospect decides to take the action necessary to become a customer.

"ad" stands for advertisement. An advertisement (often shortened to advert or ad) is the promotion of a product, brand or service to a viewership in order to attract interest, engagement and sales. Advertisements come in many forms, from copy to interactive video, and have evolved to become a crucial feature of the app marketplace.