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99 Cards in this Set
- Front
- Back
marketing
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determining and meeting customer needs
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marketing
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building profitable customer relationships
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marketing
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creating value for customers
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marketing
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includes selling and advertising, and the marketing mix product, price, promotion, placement
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information technology
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anything that stores or transmits data in digital format (computers, internet, mobile phones, tablets)
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E-Marketing
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the use of IT in the process of creating, communicating and delivering value to customers, and for managing customer relationships in ways that benefit the organisation and its stakeholders
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book restrictions to traditional analog media
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distributed through publishers, subject to scrutiny, barriers to newcomers
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film restrictions to traditional analog media
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- very high cost
- studios prefer safe bets - corporate controlled - only in cinemas at certain times/places |
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music restrictions to traditional analog media
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- mostly distributed by few labels controlled by small number of multinationals
- hard to break into business - restricted to CDs |
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TV restrictions to traditional analog media
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- video production relatively low cost
- access to broadcast rigidly controlled |
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the state of being digital
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- all of its properties and info are stored in binary form (bits)
- everything on the internet is digital, and consumers are moving to digital environments - falling cost of digital technology is one of the most powerful forces in modern economy |
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digital info can be...
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- copied perfectly
- stored in various media - easy changed/manipulated - cheaper to create/store/transmit - shared easily and quickly |
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convergence
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previously separate technologies to share resources and to interact with each other
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example of convergence
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Internet became more visible in '94, with the availability of the web-browser Mosaic
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convergence - new ways of producing and distributing content
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- online banking services
- use of wireless devices for delivery of content - voice recognition software for CRM |
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unique aspects of the new business environment
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- common platform - Web 2.0
- global reach - new markets - interactive - virtual - level playing field - low cost = almost endless storage capacity |
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Remember the internet is ______
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procedural
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marketer's role
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- implement ideas about sales, product development, placement and distribution, and promotions in the real world/online
- have input into company's website and online presence - know technical limitations - how websites are created and made more visible |
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technical back end stuff that marketers should know
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- RSS feed
- site ost - support for hosting - site coding - publishing software packages - who maintains database - bandwidth - metrics |
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CMS
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content management system
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what to ask about technology
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- what is the technologies functionality?
- will the technology be supported? - will the technology be integrated? - what is the users experience? - will the content be updated? |
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Really Simple Syndication (RSS) Feeds
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A file that enables you to share information
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Widgets Snippets of HTML code
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used to syndicate content...links rendered by code
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Content Management System (CMS)
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enables you to create, edit, and publish content
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Search Engine Optimization
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SEO
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Metadata
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- info about info
- helps search engines better categorise the content on the web |
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metadata; information
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A web page's rank in a search engine is affected by how well the site's ____ actually matches the ____ contained in the body of the website
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traffic
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the amount of data sent and received by visitors to a website
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browser
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a software application for retrieving, presenting, and traversing information resources on the web
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infrastructure
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the physical hardware used to interconnect computers and users
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operating system
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a set of software that manages computer hardware resources and provides common services for computer programs
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navigation
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the way you find your way around the site
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information architecture
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the way content is aggregated or labelled to help people navigate
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cookies
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- AKA HTTP cookie, web cookie, or browser cookie
- small piece of data sent from a website and stored in a user's web browser while a user is browsing a website |
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tag
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a keyword of term assigned to a piece of information like a digital image or computer file
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tag
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the form of metadata that helps describe an item and allows it to be found again by browsing or searching
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bookmarking
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to mark content for later retrieval
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open source
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philosophy that supports free distribution
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wiki
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a website which allows users to modify, add, or delete its content via a web browser using a specific markup language
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hyperlink
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the data that points to other data
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no longer relevant
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global reach distance is...
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value is...
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- subjective and based on broader values
- the perceived benefits of something |
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value offering
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- a viable product that meets a customers needs and desires
- available to market through appropriate distribution outlets and choices - priced affordably for target market - positioned in a way that increases its desirability - promoted in way that appeals to target market |
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4 P's
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product, price, place, and promotion
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product
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a bundle of benefits that satisfies the needs of consumers (or organisations) and for which they are willing to exchange $ or likewise
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example of product unique to internet
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search engine
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attributes
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tangible/concrete features or properties of a product
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marketers must...
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take a tangible product benefit and turning it virtual
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product attributes online
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quality issues and specific attributes
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quality issues
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speed of results or usefulness of results in online searches
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specific attributes
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format, operating system requirements, file size, compatible with your software
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product labeling
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includes traditional features such as price, size, colour, but also...
- privacy policies/statements - website terms of use statements - security solutions - trust/verification services |
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stand-alone website; existing website
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shopping cart software can be used to create a ____ ____ or can be integrated within an ____ ____
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front end; backend
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shopping cart based websites have a ____ and a ____
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online shopping websites need...
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- people to support technology
- distribution channels |
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pricing
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- amount of money charged for a product or service
- sum of all values (money, time, energy, and psychic cost) that buyers exchange for these products or services - potentially the most 'digital of all marketing functions (easily rep. as simple data) |
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value =
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benefits - costs
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buyer; seller; differing opinion
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meaning of price depends on the viewpoint of the ____ and the ____, as each party may have a ____ ____ as to what constitutes a fair price
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price may or may not include...
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- shipping
- tax/GST - exchange rates - cost of returns - discounts and other seemingly hidden elements |
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real costs online associated with...
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- buyers time
- training (to use IT) - use of hardware/software/access costs - risks in using technology (viruses, trojans, fraud, etc.) - psychic costs - frustration, stress, etc. associated with use of IT |
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1. for a fixed price (traditional)
2. dynamically updated - charging different customers different prices for the same product 3. are at an auction price: time based like Ebay |
online, goods are commonly available:
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price transparency
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allows both buyers and sellers to view all competitive prices
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True.
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True or false: IT has complicated pricing by making it easier to change prices and vary prices according to buyer behaviour.
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seller to buyer - buyers can more easily compare prices online, and use auctions
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Price transparency has brought about a change in power from ____ to ____
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internal and external
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the seller's view: two main factors that affect pricing levels
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internal factors
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SWOT, pricing objectives, marketing mix, costs to produce and market
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external factors
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the market structure and buyer's perspective, competition, market efficiency, government regulation
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internal factors that affect pricing
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1. distribution: each product must be shipped separately to its destination, the cost of which includes shipping, exchange rate, return costs, etc.
2. affiliate programs (marketing costs): affiliate sponsors reward referring websites commission on each reference that leads to a sale (leads to price inflation) |
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internal factors that affect pricing
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3. website development and maintenance hosting, hardware maintenance, monthly internet costs, domain names, security)
4. customer acquisition costs |
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customer acquisition costs
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the cost of acquiring new customers online is quite high...customers are not nearly as brand loyal as they are offline.
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internal factors that affect pricing
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5. order processing - self-service: customers fill out their own order forms.
- just-in-time inventory: do not hold inventory, just buy in response to customer orders |
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internal factors that affect pricing
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6. overheads: no rent for retail space and reduced need for sales staff; warehouses can be located in areas with low rents, low wages, low taxes, and quick access to shipping hubs
7. customer service (cheaper online) |
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internal factors that affect pricing
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8. printing and mailing
9. digital product distribution costs: distribution costs for digital products are extremely low via the internet channel (as compared to physical products) |
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external factors that affect pricing
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1. high price elasticity/sensitivity
2. shopping agents 3. reverse auctions 4. competition between sellers 5. tax-free zones |
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high price elasticity/sensitivity
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pricing is very elastic depending on what the marketplace is doing...it shifts in perception of values of a product
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shopping agents
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facilitate consumer searches for low prices by displaying the results in a comparative format
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reverse auctions
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allow buyers to name their price and have sellers try to match that price - usually drives prices down
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competition between sellers
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can be strong and is easily visible by buyers
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tax-free zones
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most online retailing takes place across state/country border - no sales tax, reduces total out-of-pocket expenditures
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placement or distribution
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considers how the product gets to the customer
- systems, warehousing, transport, fulfillment, shipping |
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internal factors that affect pricing
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5. order processing - self-service: customers fill out their own order forms.
- just-in-time inventory: do not hold inventory, just buy in response to customer orders |
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internal factors that affect pricing
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6. overheads: no rent for retail space and reduced need for sales staff; warehouses can be located in areas with low rents, low wages, low taxes, and quick access to shipping hubs
7. customer service (cheaper online) |
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internal factors that affect pricing
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8. printing and mailing
9. digital product distribution costs: distribution costs for digital products are extremely low via the internet channel (as compared to physical products) |
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external factors that affect pricing
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1. high price elasticity/sensitivity
2. shopping agents 3. reverse auctions 4. competition between sellers 5. tax-free zones |
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high price elasticity/sensitivity
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pricing is very elastic depending on what the marketplace is doing...it shifts in perception of values of a product
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shopping agents
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facilitate consumer searches for low prices by displaying the results in a comparative format
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reverse auctions
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allow buyers to name their price and have sellers try to match that price - usually drives prices down
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competition between sellers
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can be strong and is easily visible by buyers
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tax-free zones
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most online retailing takes place across state/country border - no sales tax, reduces total out-of-pocket expenditures
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placement or distribution
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considers how the product gets to the customer
- systems, warehousing, transport, fulfillment, shipping |
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direct to retailer
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If you don't want the expense of opening and running your own retail outlet to sell to your customers, then you might sell to existing retail outlets
- administration required is considerable |
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direct to wholesaler, merchant or agent supplier
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- product may be sold under merchant or wholesale brand name
- reduced pressure of distribution - less need for storage/warehousing - more reliable cash flow - no contact with customer, no brand |
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direct supply/direct selling
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- retailing, door-to-door, mail order, online shopping cart
- direct contact with customer - control over product range/price - need storage facilities |
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online distribution channels
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- email newsletters/catalogues
- websites (shopping carts) - online shopping malls and marketplaces - direct sales - links from affiliate sites |
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website related issues
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- design
- usability - credibility/trust - traffic measurement |
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to bring merchants and customers together
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aim of online shopping malls
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affiliate
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company that promotes a merchant typically through a commission-based arrangement either directly or through an affiliate network
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disintermediation
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new technologies would facilitate less complex info exchanges resulting the elimination of 'middle-men'
-online channels have implications for physical intermediaries |
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encouraged; supply chain
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disintermediation is ______ by the Internet because it modifies the ____ ____ due to market transparency (Dell)
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