A buzzword is defined as a vague idiom or word. A buzzword is the fashionable word to use at the moment regarding something. The buzzword does not always apply to the same thing. To be more explicit you might call someone “old fashioned” or “traditional.” Both meanings are the same, but traditional is the buzzword. It is the hip word for the moment to make someone feel better about how you are describing them.
In business there are buzzwords. Innovation is one buzzword that is often used. Instead of saying a business supplies new ideas a person would say the company is innovative. Companies often begin the new words that become fashionable. Politicians are also well known for using these fashionable words to gain the attention of Americans.