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MKT201 > Chapter 3 > Flashcards

Chapter 3 Flashcards

1
Q

Digital marketing:

A

pertains to all online marketing activities, which includes all digital assets, channels, and media, spanning not just online but also social media and mobile marketing

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2
Q

The 4 E’s framework for digital marketing:

A

-Excite
-Education
-experience
-engage

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3
Q

Excite the customer

A

offer must be relevant to its targeted customer. Relevancy can be achieved by providing personalized offers

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4
Q

Educate the customer

A

Golden opportunity to educate about the product’s value proposition and communicate offered benefits

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5
Q

What is the goal when marketing ideas? (educate)

A

to improve people’s well-being, along with selling the underlying concept (ex: #knowyourlimits campaign)

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6
Q

Experience the product or service:

A

provide vivid info about a firm’s goods and services; stimulate real experience

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7
Q

Engage the customer

A

action, relationship, loyalty, and commitment (engagement can also backfire–negative reviews)

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8
Q

Marketing framework

A

encompasses 7 critical elements that marketers must consider carefully when devising an online marketing strategy and designing websites and blogs to target and appeal to both potential and current customers

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9
Q

The 7 C’s of online marketing framework:

A

-core goals
-contextual elements
-content
-community
-communication
-commerce
-connection

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10
Q

Core goals

A

the basis of any marketing strategy is its goal. Determine specific goals and align the goals with the target market (align the 7 C’s with the goals)

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11
Q

Contextual elements

A

design, navigation, and alignment must be with the target market

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12
Q

Content

A

monitor to ensure relevancy, devise appropriate keywords to improve organic search, and implement SEM (search engine marketing) and paid search

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13
Q

Community

A

allow customers to interact, use corporate and professional blogs, and engage in crowdsourcing

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14
Q

Communication

A

clear, helpful, meaningful content enables effective communication, enables interacting with engaging and educating site visitors (provides a mechanism for customers to communicate with the firm)

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15
Q

Commerce

A

customers want a range of online purchase options (desktop usage is great and conversion rates are higher for online purchases)
*the most loyal customers use multiple channels

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16
Q

Connection

A

engage customers and provide a call to action. Allow customers to interact with the firm continuously (relationship) – enables positive engagement

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17
Q

The wheel of social media engagement:

A

-information effect
-connected effect
-network effect
-dynamic effect
-timeliness effect

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18
Q

Information effect (wheel)

A

outcome in which relevant info is spread by firms or individuals to other members of the social network

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19
Q

Connected effect (wheel)

A

outcome that satisfies human’s innate need to connect with other people (bi-directional)

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20
Q

Network effect (wheel)

A

outcome in which every post is spread instantaneously across social media

21
Q

Dynamic effect (wheel)

A

information is exchanged to network participants through back-and-forth communication
-examines how people flow in and out of networked communities as their interests change

22
Q

Timeliness effect (wheel)

A

firms must engage with the customer at the right place and time. Responding in a timely manner can impact customer’s buying intentions

23
Q

App pricing models

A

a key decision for firms what to charge for them

24
Q

Ad-supported apps

A

free to download but ads appear on the screen

25
Q

Freemium apps

A

free to download but include in-app purchases that enable the user to enhance the app or game

26
Q

Paid apps

A

charge the customer an upfront price to download the app but offer full functionality once downloaded

27
Q

How do firms engage their customers?

A

-listen to what customers have to say
-analyze the info through various touch points
-implement social media tactics to excite customers

28
Q

Listen (engagement)

A

-helps determine digital marketing objectives and strategies
-systematic analysis

29
Q

Systematic analysis

A

allows marketers to analyze data from these sources to collect customer comments about companies and their products

30
Q

Analyze amount of traffic (engagement)

A

-who are they?
-where do they come from?
-hits
-page views
-bounce rate
-click paths
-conversion rates
-keyword analysis

31
Q

Hits

A

total requests for a page (can be misinterpreted by accidentally clicked pages)

32
Q

Page views

A

the number of times any page gets viewed by any visitor

33
Q

Bounce rate

A

the % of times a visitor leaves the site almost immediately (oops)

34
Q

Click paths

A

how users proceed through the information

35
Q

Conversion rates

A

what % of visitors act as the marketer hopes

36
Q

Keyword analysis

A

what keywords people use to search on the internet for their products and services

37
Q

Do (engagement)

A

-develop and implement campaigns using social media
-effective implementation based on social and mobile media activity
-ex: facebook targeting choices

38
Q

Campaign steps

A
  1. identify strategy and goals
  2. identify target audience
  3. develop budget (not free for consumers to find you and social media costs money)
  4. campaign: experiment and engage
  5. monitor and change
39
Q

Influence marketing

A

a strategy that uses opinion leaders, popular on social media, to drive marketing messages to a targeted audience
-firms hire (or encourage) these well-known names to promote brand messages to their network followers

40
Q

Relevance (efficacy of influencers)

A

encompasses both the focal influencer and his or her followers and how they link with the brand and its message

41
Q

Reach (efficacy of influencers)

A

the % of a target population exposed to a specific marketing communication at least once

42
Q

Response (efficacy of influencers)

A

once followers engage with the message, the brand also needs them to go further and respond in ways that benefit them

43
Q

Return (efficacy of influencers)

A

while financial returns can be measured using different techniques, return on investment (ROI) is often used

44
Q

Influencer marketing chain of events

A

brand and its message —-> influencer —-> influencer’s followers —-> impact

45
Q

Types of influencers:

A

-celebrities
-social media
-specialized
-blogs
-micro

46
Q

Ethical situations with the influencer marketing:

A

-fraudulent influence
-disclosing advertising
-sincerity

47
Q

Fraudulent influence

A

the incentive to boost follower number accordingly has led to various unethical behaviors

48
Q

Disclosing advertising

A

intent if an influencer is being paid to promote a product, that info should be clear in the post (should disclose sponsored ads)

49
Q

Sincerity

A

believe that the influencer actually likes and appreciates the product (not just about the money)

MKT201 (5 decks)

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