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Restaurant Marketing Glossary
Restaurant Marketing Glossary
B

Benchmarking: The process of comparing one’s own product and services to the competition’s product and services, with the ultimate goal of improving one’s product and beating out the competition.

BOGO: Buy one get one free.

Bounceback: A promotion that offers customers an incentive to return and make another purchase in the near future.

Branding: The use of marketing messages and designs to promote consumer awareness of and loyalty to a brand.

C

Contribution margin: The difference between the sale price of a product or service and the costs needed to produce and provide those products and services.

Cross-selling: A marketing tactic that encourages customers to purchase products or services that are complementary or related to the ones they are already purchasing.

D

Demographics: Statistics that highlight the characteristics of a group of consumers.

Direct marketing: A marketing strategy that sends promotional materials directly to prospective customers, whether through mail, email, texts or telemarketing.

Domain name: An internet address, usually followed by ".com," ".edu," ".net" or ".org," used to identify the location of a series of webpages or URLs.

Downselling: A marketing tactic in which a cheaper product or service is suggested as an alternative to a more expensive product or service.

E

Environmental analysis: An evaluation of the conditions near a location and the ways in which external forces and factors could influence the profitability of an enterprise.

F

Fortified wine: A wine - such as sherry, port or Madeira - with brandy or another distilled alcohol added to halt fermentation or increase the alcohol content of the wine.

G

Guerrilla marketing: The use of unconventional or underground marketing tactics that involve little or no costs to implement.

L

Late-harvest wine: Wine made of grapes that have been picked from the vine later than usual, resulting in sweetness and a high level of residual sugar.

Local store marketing: A marketing strategy that targets the customers that live in the trading area or near the vicinity of a business.

Loyalty marketing: A marketing strategy that focuses on attracting and creating repeat customers that are loyal to the brand.

M

Marketing assessment: An evaluation of the success or failure of a business’s marketing techniques.

Marketing database: A collection of contact information and behavioral data for past and potential customers.

Market segment: A group of people that share one or more qualities that cause them to have similar consumer needs.

Market segmentation: Analyzing the market by dividing the market into segments and determining which segments you are most likely to attract and which segments would complement each other well.

Molecular gastronomy: The application of science and chemistry to food preparation and the culinary arts.

P

Perceived value: As opposed to the actual "market value," the amount any given customer perceives something to be worth, or the benefit a customer gains from a product.

Personal selling: Marketing and promoting a product or service to customers through direct personal communication, either face-to-face or through other direct forms of contact.

Point of Purchase (POP): The physical location where the customers are when they pay for products or services.

Point of Sale (POS): The physical location where the sellers are when products or services are sold to customers.

Positioning: The identity or image of a business or company as perceived by the target market, or how the product or services fit in the market relative to the competition.

PPC advertisement: Pay-per-click advertisement; a form of Internet advertising in which advertisers only pay each time a user clicks on the advertisement’s link.

Psychographics: Characteristics of a given population as related to personality, beliefs, values or lifestyle.

S

Social Networking Potential (SNP): A representation of the size of an individual’s social network and his or her power of influence over that network.

Sommelier: Someone trained in all aspects of wine, including the storage and service of wine as well as wine and food pairings.

Suggestive selling: A method of selling in which the seller attempts to increase the value of the sale by suggesting a complementary product or service.

T

Tannins: Acidic compounds found in wine, especially in red wine, that give the wine an astringent, or biting, taste.

Target marketing: A marketing principle in which a population is divided into segments sharing one or more traits and marketing efforts are focused on one or a few key market segments, or target markets.

Trading area: The geographical area from which a businesses customers are drawn.

U

Upselling: A marketing strategy in which the salespeople try to add more sales of products or services to a customer’s original purchase in order to increase the average check size.

V

Viral marketing: Marketing tactics that use pre-existing social and professional networks to spread brand awareness and create a “buzz” about a business and its products or services.

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