MARKETING GLLOSSARY (L)

Ladder of Loyalty
A marketing communications tool that aims to move a consumer along a path from a prospect (“not yet purchased”) to advocate (“brand insistence”) through customer (“trialist”) and client (“repeat purchases”) by using integrated marketing communications techniques. As a consumer travels up the ladder they become increasingly loyal to the brand. Also called the ‘Branding Ladder’.

Laggards
See ‘Adopter Categories’.

Late Majority
See ‘Adopter Categories’.

Learning Log
An assignment that charts a personal development plan and achievements of a delegate during a period of study.

Lifestyle
Way of living, in the broadest sense, of a society or segment of that society. Includes both work and leisure, eating, drinking, dress, patterns of behaviour and allocation of income.

Logo
A graphic, usually consisting of a symbol and/or group of letters, that identifies a company or brand.

LTV
Long Term Value.