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Marketing is full of terms and theories. As an ever-evolving field, more and more terms are added often and sometimes meanings could overlap. New acronyms and jargon are added to marketing frequently.
1. CPV
CPV in marketing usually means “Customer Perceived Value”.
Customer Perceived Value (CPV) is a marketing and business concept that represents the subjective assessment customers make about the worth or desirability of a product or service. It’s the customer’s evaluation of what they receive relative to what they give in terms of money, time, effort, or other resources.
Another meaning of CPV in relation to marketing (especially when it comes to digital marketing) is “Cost Per View.” It is a metric used in advertising to measure the cost of each instance in which an ad is viewed or seen by a user. CPV is commonly associated with online video advertising, where advertisers pay a certain amount for each view of their video ad.
2. CPR
CPR in marketing often refers to “Customer Perceived Risk “.
Customer Perceived Risk (CPR) refers to the level of uncertainty or concern that customers associate with a product or service before making a purchase. It’s a concept that stems from consumer behaviour theory and is crucial for businesses to understand in order to address potential barriers to purchase and build trust with their customers.
Other meanings of CPR in marketing include:
- Cost Per Response – It represents the cost incurred for each response received from the target audience.
- Customer Purchase Rate – A metric used to measure the percentage of customers who make a purchase out of the total number of customers.
3. CPB
CPB in marketing and business often means “Cost Per Buy”. The term is used to refer to the cost incurred by an advertiser for each purchase made by a customer as a result of a marketing campaign.
4. ESP
ESP in marketing stands for “Emotional Selling Proposition”.
Emotional Selling Proposition (ESP) refers to the emotional benefits or feelings that your product or service creates in the mind of your customer. The term is closely related to the Unique Selling Proposition (USP) but while USP is about highlighting the unique features or benefits of your product or service that your competitors don’t have, ESP focuses on highlighting the emotional connection that your customers will experience by using your product or service.
5. XSP
XSP in marketing stands for “Experiential Selling Proposition”. This is a less recognized or standardized concept in marketing that refers to the complex systems of value associated with a product or service in order to create an experience for customers.
“Experiential Selling Proposition” (XSP) emphasizes the unique and positive experiences that come with using a product or service.
