A successful business in a particular industry or market, such as Coca-Cola in the beverage industry.

A specific symbol representing a brand, such as Amazon’s “smile,” Mitsubishi’s “three diamond” symbol, or Lacoste’s green alligator.

A short statement that promotes a brand and its image. Famous examples include Nike’s “Just do it,” LG’s “Life’s good,” and Apple’s “Think different.”

A short, catchy tune with memorable lyrics that promote a specific product or service, like McDonald’s “I’m lovin’ it,” Nationwide Insurance’s “Nationwide is on your side,” Chili’s “Baby Back Ribs,” or Chia Pet’s “Ch-ch-ch-Chia!”.

A fictional character created by marketers to reflect the interests, income, education levels, and spending habits of a company’s typical customers.

This is the tendency of consumers to habitually use products and services from the same brand. Brands try to build consumer trust — and thereby brand loyalty — by cultivating an image of reliability and familiarity.

The way a brand is presented to the public, this covers everything from the colors associated with a brand (like Amazon’s amber-and-black color scheme)

A phone call (or other contact) from a salesperson to someone they have already contacted (or know via a mutual acquaintance).

A written agreement between a buyer and a seller detailing the type and amount of goods to be sold, as well as their price, delivery date, and other relevant information

Products sold in bulk (large quantities), for a lower price, often in a B2B (business-to-business) arrangement.

Products sold in small quantities with a high-profit margin.

The full price for bringing a finished product to market. This cost includes raw materials, labor, manufacturing equipment, advertising, and shipping.

The people for whom a product was created or developed.

Information about a product or service’s positive qualities, as well as areas for improvement.

Using industry standards to compare the design, quality, and pricing of competing products or services.

Carefully examining the spending habits of specific groups of consumers, along with the practices of industry competitors, to identify potential customers and create effective business strategies.