Zero Moment of Truth (ZMOT) is a concept in marketing that refers to the point in the buying cycle when the consumer researches a product before the seller even knows they exist. Crucial for understanding consumer behavior and optimizing marketing strategies to influence decision-making at this early stage.
Recency, Frequency, Monetary (RFM) analysis is a marketing technique used to evaluate and segment customers based on their purchasing behavior. Essential for targeting high-value customers and optimizing marketing strategies.
Attention, Interest, Desire, Action (AIDA) is a marketing model that outlines the stages a consumer goes through from awareness to decision. Crucial for creating effective marketing strategies and campaigns.
Minimum Viable Product (MVP) is a version of a product with just enough features to be usable by early customers who can then provide feedback for future product development. Essential for validating product ideas quickly and cost-effectively, allowing teams to learn about customer needs without fully developing the product.
The likelihood that a customer will continue to buy from a particular company or brand over time. Crucial for maintaining a stable customer base and ensuring long-term business success.