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68 Cards in this Set
- Front
- Back
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What is Marketing |
Marketing is the activity set of institutions and processes for creating communicating delivering and exchanging offerings that have value for customers clients partners and society at large |
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Web 2.0 |
The popular term for advanced Internet technology and apps including blogs, wikis, RSS, and social bookmarking. |
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Disruptive Innovation |
A process by which a product or service takes root initially in simple applications at the buttom of marketing and then relentlessly moves up market eventually displacing established competitors. |
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Value Propositions |
Why should the customer buy from you |
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Revenue Model |
How will the company earn money |
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Market Opportunity |
What is the market space and what is its size? |
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Competitive Environment |
Who are your direct and indirect competitors |
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Market Stategy |
How are you going to promote your product in order to attract your target |
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Organizational Development |
What resources are needed and which are in place |
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Management Team |
Who responisble |
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How does digital create a revenue stream? |
Through Sales (Freemium), advertising, subscriptions, transaction fees, and affilitates |
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How would i use the internet in the MARKET DEVELOPMENT STRATEGY |
Use internet to target new geographic markets and new customer segments |
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How would i use the internet in the DIVERSIFICATION STRATEGY
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Using the internet to support: 1. Diversification into related businesses 2. Diversification into unrelated businesses 3. Upstream integration (with supplier) 4. Downstream integration (with intermediaries) |
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How would i use the internet in the MARKET PENETRATION STRATEGIES |
Use internet for: 1. Market Share Growth - compete more effectively online 2. Customer loyalty improvement - migrate existing customers online and add value to existing products, services and brand 3. Customer value improvement - increase customer profitability by decreasing cost to serve and increase purchase or usage frequency and quantity |
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Product development strategies |
Use Internet for: 1. Adding value to existing products 2. Developing digital products 3. Changing payment models 4. Increasing product range |
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Name the 4 zones of social media channels |
1. Community 2. Publishing 3. Commerce 4. Entertainment |
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Touchpoint |
A point of contact between a business and a customer or buyer and seller. |
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Digital Ecosystem |
A visual presentation of the connection between digital touchpoints of a company or brand based on the business strategy |
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Customer Touchpoint Phases |
1. Pre-purchase 2. Purchase 3. Post-purchase |
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Browsers vs Buyer |
Browser- Someone who is just there to look
Buyer- Someone who is wanting to make a purchase |
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Acquisition rate |
% of visitors who indicate an interest by registering or visiting product pages |
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Conversion Rate |
% of visitors who become customers |
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Cart conversion rate |
ratio of orders to "add to cart" click |
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Attrition rate |
% of customers who don't return with a year |
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Checkout conversion rate |
ratio of orders to checkouts started |
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Abandonment rate |
those who leave items in a cart without purchasing |
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Retention Rate |
% of existing customers who continue to buy on a regular basis |
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Mobile Commerce |
Any transaction activity conducted over a wireless telecommunications network or from mobile devices |
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Rating VS Reviews |
Ratings- scores that people acting in the role of critics assign to something as an indicator. Reviews- assesments with detailed comments about the object in question. |
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Collaborative Consumption |
Participants share, barter, lend, trade, rent, or swap access to products and services rather than buying, usually enabled by technology. |
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5 stages of the Consumer Decision-making process |
1. Need Recognition 2. Info Search 3. Purchase decision 4. Purchase Evaluation |
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Buyer Personas |
It is a fictional ideal character that a company creates. This character is who they use when targeting a market |
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Five Promotional Tools |
1. Personal Selling
2. Public Relations 3. Sales Promotion 4. Direct Marketing 5. Advertising |
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Advertising |
Any paid form of non-personal presentation and promotion of ideas, goods or services by an identified sponsor or medium |
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Reach vs Frequency |
Reach- The actual number of individual audience members reached at least once by the vehicle in a given period or time Frequency- The number of times the receiver is exposed to vehicle in a specific time period |
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Landing Page |
The page that appears when a user clicks on an advertisement or a search engine result link. Does not have to be a home page. |
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Backlink |
When another website links to your website |
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Customer Relationship Management (CRM) Systems |
Repository of customer info that records all contacts that a customer has with firm and generates customer profile available to everyone in the firm with need to "Know the Customer" |
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Data Mining |
Data mining involves analyzing data to discover patterns or connections |
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Key Performance Indicator (KPI) |
A metric that inidcates whether a web site is achieving its goals |
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Email Metrics |
1. Delivery Rate- % who recieve the email
2. Open Rate- % who open an email and are exposed to the message 3. Click-Through rate- % who click though to offers 4. Bounce-back rate- % emails that are not deliverable 5. Unsubscribe rate- % of recipients who click ubsubscribe |
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Native Advertising |
Online Adverting that matches the form and function of the platform in which it appears |
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Programmatic Advertising |
The use of technology to automate the buying, selling or fulfillment of ads |
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Affiliate marketing |
An agreement between two sites in which one site (the affiliate) agrees to feature content or an ad designed to drive traffic to another site |
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Content Marketing |
A marketing technique of creating and distributing relevant and valuable content to attract acquire and engage a clearly defined and understood target audience with objective of driving profitable customer action |
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Three R's of content |
Rewrite, Refresh, and Retire |
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Qualitative Research vs Quantitative Research |
Qualitative looks more at content Quantitative looks more at stats |
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Primary Research |
Survey, focus groups, research panels, research cummunities |
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Secondary Research |
Census Data and corporate data |
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Social Media Metric |
Mentions |
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Crowdsourcing |
A distributed problem-solving and production model that relies on an active community to find solutions to problems |
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name 3 dominant ways in which crowdsourcing is used |
Product development initiatives and new business communications ideas |
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Click Fraud |
Scams and deceptions that inflates advertising bills by illicitly manipulating keyword-based advertising Click farm- low paid workers paid to keep clicking on links |
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Intellectual property |
Encompasses all tangible and intangible products of human mind |
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Copyright |
Exclusive publishing rights to a work, such as art, lit, photography, or music 75 years for individual 95 for corporate ownership |
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Patent |
Exclusive rights to an invention by the inventor for 20 years |
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Trademark |
A trademark is a word, symbol, or phrase, used to id a particular manufacturer or sellers product and distinguish them from the products of another |
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Trademark Dilution |
Any behavior that would weaken the connection between the trademark and the product |
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Infringment |
Use of trademark that creates confusion with existing marks, |
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Cyber Squatting |
Registration of infringing domain name to extort payment from legitimate owners later. |
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Cyberpiracy |
Diverting traffic from legitimate site to infringing site |
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Trademark Metatagging |
Using another trademarks as metatags in a misleading or confusing manner |
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Net Neutrality |
Internet should remain neutral to all beliefs an allow most content |
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Internet of Things |
Machine to machine communication using the internet |
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Gamification |
The application of typical elements of game playing to other area of activity typically as an online marketing technique to encourage engagement with a product or service. example: game scoreboard |
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Proximity Marketing |
Technology that localizes info with a certain area |
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Near Field communications (NFC) |
Communication between two or more devices example ticket scanners scanning QR codes on phones |
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Bluetooth low energy beacons (BLE) |
Use of beacons that consistently transmit information for the exchange of data over distances up to 500 ft. |
