Marketing – Terms & Definitions

The process of identifying a set of user actions, or touchpoints, that contribute to a desired outcome and assigning value to each of these touchpoints. Common models include first-click and multi-touch.

A prompt on a website or piece of marketing content that instructs the user to take a specific, desired action, such as "Sign Up Now" or "Download the Guide."

A detailed, semi-fictional profile representing your ideal customer, used to tailor products, marketing efforts, and sales strategies.

The process of making a product or service stand out from its competitors. Effective differentiation gives your business a unique selling point (USP).

An entrepreneur's plan for liquidating (selling) their ownership in a business. Common strategies include selling to a large company, passing it to family, or offering an Initial Public Offering (IPO).

Creations of the mind (such as inventions, writing and artistic works, designs, symbols, logos) used in commerce. IP is legally protected by patents, trademarks, or copyrights.

A measurable value that demonstrates how effectively a company is achieving key business objectives. KPIs are used to track success over time.

The version of a new product that allows a team to collect the maximum amount of validated learning about customers with the least effort. Used to test market acceptance quickly.

A concise declaration of a company's reason for existence, describing what the company does and for whom. It focuses on the present state of the business.

A focused, targetable segment of a market that is highly specialized. Serving a niche allows you to focus resources and reduce competition.

A legally binding contract used to protect confidential information shared between two or more parties, ensuring sensitive business details are not shared publicly.

A structured change designed to test a new fundamental hypothesis about a product, strategy, or growth engine. It is a common course correction in startups and evolving businesses.

The capacity of a business to increase production or handle growth without negatively impacting its cost structure, performance, or required resources.

A concise statement that clearly communicates the tangible and intangible benefits a customer will receive from using your product or service, solving their pain point.

A concise declaration of where the company wants to be in the future, providing direction and long-term inspiration for the team and stakeholders.