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Digital Marketing > Chapter 2 > Flashcards

Chapter 2 Flashcards

1
Q

Customer Journey

A

A description of modern multichannel bio behavior as customers use different media and touch points to achieve, including selecting, making purchases and gaining customer support as part of the path to purchase

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2
Q

Online Marketplace

A

Exchanges of information and commercial transactions between consumers, businesses and governments completed through different forms of online presents such as, search engines, comparison sites, and destination sites

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3
Q

Multiscreening

A

A term used to describe simultaneous use of devices such as digital TV and a smart phone or tablet

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4
Q

Electronic Word of Mouth (eWOM)

A

An extension of traditional, face-to-face, word-of-mouth, whereby communication exchanges between individuals takes place in digital environments

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5
Q

Situation Analysis

A

Collection and review of information about an organizations, internal processes and resources, and external marketplace factors in order to inform strategy decision

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6
Q

What is reviewed in a situation analysis?

A
  1. Customer Analysis
  2. Marketplace Analysis
  3. Competitor Benchmarking
  4. Wider Macro Environment
  5. Internal Review
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7
Q

Micro Environment

A

The players and their interactions, which influence how an organization responds and its marketplace

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8
Q

Macro-environment

A

Broad forces affecting all organizations in the marketplace, including social, technological, economic, political, legal, and ecological influences

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9
Q

Environmental Scanning

A

The process of continuously monitoring and analyzing events in the organizations environment that have implications for planning

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10
Q

Online Market Ecosystem

A

Interactions between different online systems related to a specific hardware or a software technology, which may be independent or developed by a particular brand

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11
Q

Elements of the online marketplace map

A
  1. Customer segments
  2. Search intermediaries
  3. Intermediaries, influencers and media or publisher sites
  4. Destinations sites and platforms
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12
Q

Share of Search

A

An evaluation of the proportion of website visits organic and paid search that a brand attracts for a defined set of target search terms used by an audience, searching for a market category of product service or other information. A search gap analysis can be performed to assess potential visits from consumer search and intentagainst actual visits achieved through SEO and pay per click activities.

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13
Q

Aggregators

A

An alternative term to price comparison sites. aggregators include product price and service information comparing competitors within a sector such as financial services retail or travel their revenue models commonly include affiliate revenues pay per click advertising and display advertising

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14
Q

Affiliates

A

Companies promoting a merchant typically through a commission based arrangement either direct or through an affiliate network

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15
Q

Key Online Influencers

A

Celebrities, individuals well-known in their niche or publishers to whom an online target audience listens, and interacts with. Online influencer, outreach or blogger outreach can help companies reach and engage a wider audience.

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16
Q

Customer Behavior Analysis

A

And digital markets, this type of analysis involves research into the motives, media consumption preferences, and selection processes used by customers as they use digital channels together with traditional channels to purchase online products and use other online services

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17
Q

2 Perspectives of Customer Behavior Analysis

A
  1. Demand Gap Anaysis
    2.Digital consumer behavior
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18
Q

Demand and gap analysis

A

This market size assessment involves understanding the potential online reach against impressions volume of visitors to an online presence and the extent to which prospects convert to tactical and strategic outcomes

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19
Q

Digital consumer behavior

A

Understand the needs characteristics and digital experiences or behaviors of target consumers. These variables are often collectively referred to to his customer insight. Based on the analysis customer segments can be created that will be used to develop targeting approaches as part of strategy and planning.

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20
Q

Customer Insight

A

Knowledge about customers, profile preferences, and digital experiences from analysis of qualitative and quantitative data specific insights can be used to inform marketing tactics directed at group groups of customers with shared characteristics

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21
Q

Customer Segments

A

Groups of customer sharing, similar characteristics, preferences, and behaviors that are meaningful in terms of various market propositions and which are defined as part of the target marketing strategy and planning

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22
Q

Demand Analysis

A

Quantitative determination of the potential use and business value from online customers of an organization qualitative analysis of perceptions of online channels is also assessed

23
Q

Conversion Marketing

A

Using marketing communications to maximize conversion of potential customers to actual customers

24
Q

Things to consider about target markets

A
  1. Demographic variables
  2. Psychographic and behavioral variables
25
Q

Persona

A

Fictional profiles that represent a particular target audience a thumbnail summary of the characteristics needs motivations, and environment of typical website users

26
Q

Competitor analysis

A

Identifying the companies that are competing for an organizations business and then reviewing what they are good at with their strengths are what their weaknesses are what they are planning where they want to take the company and how they behave when other companies try to take their market share

27
Q

Competitor benchmarking

A

A structured analysis of the online services capabilities, and performance of an organization within the areas of customer acquisition, conversion, retention, and growth

28
Q

3 types of media

A
  1. Paid media
  2. Owned media
  3. Earned media
29
Q

Digital marketing intermediaries

A

Digital marketing, intermediary or firms that can help with company promote sell and distribute its products for services. They should not be confused with Internet service providers which provide hosting services in the Internet context, digital marketing intermediate can be contrast with destination sites, which are typically merchant sites owned by brands, manufacturers or retailers that offer information and products.

30
Q

Marketing intermediaries

A

Pharmacy can help accompany to promote cell and distribute its products or services for example of publisher or media sites comparison sites, search engines, social networks, and blogs

31
Q

Destination website

A

Site typically owned by a retailer or manufacturer brand which users are encouraged to click through to

32
Q

Online intermediary sites

A

Website facilitate exchanges between consumer and business suppliers

33
Q

Channel structure

A

Configuration of partners in a distribution channel

34
Q

Disintermediation

A

The removal of intermediary such as distributors brokers that formally linked to company to its customers

35
Q

Reintermediation

A

The creation of new intermediary between customers and suppliers, providing services, such as supplier search and product evaluation

36
Q

Digital business models

A
  1. Value proposition
  2. Customer segments
  3. Customer relationships
  4. Channels
  5. Key partners
  6. Activities
  7. Resources
  8. Cost structure
  9. Revenue stream
37
Q

Key performance indicators (KPIs)

A

Metrics used to assess the performance of a process, and whether certain roles are achieved

38
Q

Online business model

A

A summary of how a company will generate profit, identifying its core product or service value proposition, target customers in different markets position in the competitive on marketplace or value chain and it’s projections for revenue and cost

39
Q

Revenue models

A

Describe methods of generating income for an organization

40
Q

Revenue models

A

Describe methods of generating income for an organization

41
Q

CPM Display Advertising

A

CPM stands for cost per thousand where M denotes Mille.
This is a traditional method by which site owners charge a fee for advertising

42
Q

CPC advertising on site

A

CPC stands for cost per click. Advertisers are charged not simply for the number of times our ads are displayed, but according to the number of times they are clicked upon.

43
Q

Sponsorship of sit sections or content types

A

Accompany, computer advertise a site channel or section

44
Q

Affiliate revenue (CPA but could be CPC)

A

Affiliate revenue is commission based

45
Q

Transaction fee revenue

A

The company receives a fee for facilitating a transaction

46
Q

Subscription access to content or services

A

Arrange of documents that can be accessed from a publisher for a fixed Period

47
Q

Pay per view access to documents

A

Payment occurs for single access to a documentary video or music clip that can be downloaded

48
Q

Subscriber data access for email marketing

A

The data site owner has about its customers are potentially valuable since it can send different forms of email to its customers if they have given their permission that they are happy to receive an email from either the publisher or third parties

49
Q

Cost per thousand

A
50
Q

Cost per thousand (CPM)

A

The cost of placing an ad viewed by 1000 people

51
Q

Cost per click (CPC)

A

The cost of each click from referring site to a destination site, typically from a search engine in a pay per click search marketing

52
Q

Cost per acquisition (CPA)

A

Cost of acquiring a new customer or achieving sale, typically limited to the communications cost and refers to cost for sale for new customers

53
Q

Freemium

A

A business model where some services are content are provided free of charge to enable the service to be trial by other content or more advanced features must be paid for

54
Q

Digital rights management (DRM)

A

The use of different technologies to protect the distribution of digital services or content such as software music, movies or other digital data

Digital Marketing (8 decks)

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