Marketing: A common language : A glossary of core concepts for better decisions

This note aims to clarify what we mean when we use the most important marketing terms. The concepts included here are the ones that repeatedly appear in important marketing decisions, across industries, and over time. The glossary is structured around four blocks – based on the fundamental marketing framework (see Figure 1) – that reflect how marketing works:

1. Understanding the current situation: identify the key internal and external elements, which allows you to decide who to serve (target) and what to do for them (positioning).
2. Designing the offer: have “something to sell”, a good product or service at a good price.
3. Designing the go-to-market strategy: have “a way to sell it”, which typically includes communications, sales force, and the channel.
4. Capturing value: implementing it all, so that you capture, develop, and retain part of the value you create.

Definitions are deliberately simple, practical, and sometimes opinionated. A common understanding of these concepts avoids unnecessary confusion and helps teams think better.