Know how to write a positioning statement using the official formula:
To (target group and need) our (Brand) is (concept or category) that (POD).

Merchant middleman: take title to the goods and buy and sell on their own account

Agent middleman: represent the principal rather than themselves

Comprador: buyer or customer

EMC (Export Management Co.)

EMCs range in size from one person upward to 100 and handle about 10 percent of the manufactured goods exported. Typically, the EMC becomes an integral part of the marketing operations of its client companies. (EXPORTADOR)

Pulsing: Continuous at low-weight levels with periodic spikes of heavier exposures (gyms)

Flighting: Switching between high and low exposures (greeting cards)

CPM: Abbreviation for cost per thousand (reached)

GRP: Gross Ratings Point: Advertising impressions delivered as a % of the population (1 GRP = 1% of market population.)

IP (Intellectual Property), ISP: Internet Service Provider

Homologation: the process of testing and gaining approval of products before they can be imported.
Product adaptation/homologation requirements: Legal, Economic, Political, Technological, Climate

Q-factor: a descriptor within the entertainment industry that measures a celebrity’s familiarity and likability ranking, determining their ability to promote products (example: Tiger Woods/ Kobe Bryant/ Michael Phelps).

MDF: Market Development Funds: Are monetary fund’s given by a manufacturer's sales or marketing department to help a partner/reseller/distributor sell its products or to market the manufacturer's brand.

Purpose of a marketing brief: AKA marketing initiative brief is to ensure that the objective of the marketing strategy is defined and carried out, and to be able to rationalize the tactical approach.

Reach: number of different persons or households exposed to a particular media schedule at least once during a specific time period.

Frequency: The number of times within a time period that the average person or household is exposed to the message.

Exposures: (number of) = Reach X Frequency

MSA: Metropolitan Statistical Area, used in marketing research, such as Denver, Los Angeles

Most important elements of print ads:
Picture – Headline – Copy

Why is “objective and task” the best way to make a marketing budget?
Because is the most fair way to evaluate the budget for the marketing department and it doesn’t depend in the sales. * Objective and task* * *Includes: * Establish market share goal * Determine the % of market that should be reached by advertising * Determine the % of aware prospects that should be persuaded to try the brand *