Malware
Malware authors target bugs, or loopholes, to exploit. A common method is exploitation of a buffer overrun vulnerability, where software designed to store data in a specified region of memory does not prevent more data than the buffer can accommodate being supplied. Malware may provide data that overflows the buffer, with malicious executable code or data after the end; when this payload is accessed it does what the attacker, not the legitimate software, determines.
Zero-day (computing)
Generic signatures are signatures that are specific to certain behaviour rather than a specific item of malware. Most new malware is not totally novel, but is a variation on earlier malware, or contains code from one or more earlier examples of malware. Thus the results of previous analysis can be used against new malware.