In this glossary are comprised all the key business terms to understand any business model
BUSINESS CONCEPT Cost Leadership And Porter's Competitive Advantage According to Porter, there are three core strategies for competitive positioning: cost leadership, differentiation, and focus. Cost leadership is straightforward, as the player rolling this out will become the lost-cost producer in the industry. As Porter highlighted, a cost leader has to have a broad scope (and […]
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BUSINESS CONCEPT What Is Affiliate Marketing Affiliate marketing describes the process whereby an affiliate earns a commission for selling the products of another person or company. Here, the affiliate is simply an individual who is motivated to promote a particular product through incentivization. The business whose product is being promoted will gain in terms of
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BUSINESS CONCEPT What Is Multi-level Marketing Multi-level marketing (MLM), otherwise known as network or referral marketing, is a strategy in which businesses sell their products through person-to-person sales. When consumers join MLM programs, they act as distributors . Distributors make money by selling the product directly to other consumers. They earn a small percentage of
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BUSINESS CONCEPT What Is Influencer Marketing Influencer marketing involves the marketing of products or services that leverages the popularity, expertise, or reputation of an individual. Influencer marketing is often associated with those who have large social media followings, but popularity should not be confused with influence. Influence has the power to change consumer perceptions or
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BUSINESS CONCEPT What Is Guerrilla Marketing Guerrilla marketing is an advertising strategy that seeks to utilize low-cost and sometimes unconventional tactics that are high impact. First coined by Jay Conrad Levinson in his 1984 book of the same title, guerrilla marketing works best on existing customers who are familiar with a brand or product and
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BUSINESS CONCEPT What Is Ambush marketing As the name suggests, ambush marketing raises awareness for brands at events in a covert and unexpected fashion. Ambush marketing takes many forms, one common element, the brand advertising their products or services has not paid for the right to do so. Thus, the business doing the ambushing attempts
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Last Updated: April 2026 Framework Porters Generic Strategies Key elements and framework breakdown Origin Overview Key Elements How It Works Generic Strategies Applications Benefits Drawbacks Key Elements Origin Introduced by Michael E. Porter in his 1985 book "Competitive Advantage." Overview Porter's Generic Strategies are a set of fundamental business strategies that organizations can adopt to
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BUSINESS CONCEPT What Is Marketing Mix The marketing mix is a term to describe the multi-faceted approach to a complete and effective marketing plan. Traditionally, this plan included the four Ps of marketing: price, product, promotion, and place. But the exact makeup of a marketing mix has undergone various changes in response to new technologies
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BUSINESS CONCEPT What Is Inbound Marketing Inbound marketing is a marketing strategy designed to attract customers to a brand with content and experiences that they derive value from. Inbound marketing utilizes blogs, events, SEO , and social media to create brand awareness and attract targeted consumers. By attracting or “drawing in” a targeted audience, inbound
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BUSINESS CONCEPT What Is Relationship Marketing Relationship marketing involves businesses and their brands forming long-term relationships with customers. The focus of relationship marketing is to increase customer loyalty and engagement through high-quality products and services. It differs from short-term processes focused solely on customer acquisition and individual sales. Relationship marketing starts with a business understanding
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