Chapter 5

Question 1

customer relationship management (CRM)

Answer 1

systematic tracking of consumers’ preferences and behaviors over time to tailor the value proposition as closely as possible to each individual’s unique wants and needs

Question 2

mar-tech

Answer 2

short for “marketing technology”; particular focus is placed on the application of marketing through digital technologies

Question 3

one-to-one marketing

Answer 3

facilitated by CRM, 1-to-1 allows for customization of some aspect of the goods or services that are offered to each customer

Question 4

touchpoint

Answer 4

any point of direct interface between customers and a company (online, by phone, or in person)

Question 5

marketing automation

Answer 5

group of systems and technologies that can be used to establish a set of rules for handling different marketing related processes in an automated fashion

Question 6

share of customer

Answer 6

percentage of an individual customer’s purchase of a product that is a single brand

Question 7

Big Data

Answer 7

popular term to describe the exponential growth of data- both structured and unstructured- in massive amounts that are hard or impossible to process using traditional database techniques

Question 8

Internet of Things

Answer 8

describes a system in which everyday objects are connected to the Internet and in turn are able to communicate information throughout an interconnected system

Question 9

web scraping

Answer 9

process of using computer software to extract large amounts of data from websites

Question 10

sentiment analysis

Answer 10

process of identifying a follower’s attitude (e.g. positive, negative, neutral) toward a product or brand by assessing the context or emotion of his or her comments

Question 11

scanner data

Answer 11

data derived from items that are scanned at the cash register when you check out with your loyalty card

Question 12

channel partner model

Answer 12

relationship between channel partners in which a two-way exchange of information between purchasing organizations and their respective vendors is facilitated through shared or integrated IT systems

Question 13

information overload

Answer 13

state in which the marketer is buried in so much data that it becomes nearly paralyzing to decide which of the data provide useful information and which do not

Question 14

data mining

Answer 14

sophisticated analysis techniques to take advantage of the massive amount of transaction information now available

Question 15

data warehouse

Answer 15

system to store and process the data that result from data mining

Question 16

structured data

Answer 16

data that (1) are typically numeric or categorical; (2) can be organized and formatted in a way that is easy for computers to read, organize, and understand; and (3) can be inserted into a database in a seamless fashion

Question 17

unstructured data

Answer 17

nonnumeric information that is typically formatted in a way that is meant for human eyes and not easily understood by computers

Question 18

emotion analysis

Answer 18

sophisticated process for identifying and categorizing the emotions a follower possesses in relation to a product or brand by assessing the content of that communication

Question 19

data scientist

Answer 19

individual who searches through multiple, disparate data sources to discover hidden insights that will provide a competitive advantage

Question 20

marketing analytics

Answer 20

group of technologies and processes that enable marketers to collect measure, analyze, and assess the effectiveness of marketing efforts

Question 21

digital marketing channels

Answer 21

paths of distribution through which a company’s digital marketing communications can be delivered to reach their respective audiences

Question 22

A/B test

Answer 22

method used for testing the effectiveness of altering 1 characteristic of a marketing asset (i.e. web page, banner ad, email); test is conducted by randomly exposing some users to the original version and other users to an altered version. The behavior of users within each group is recorded and the results are used to determine if the altered version performs better on some measure of interest (i.e. click through rates)

Question 23

cost-per-click

Answer 23

online ad purchase in which the cost of the advertisement is charged only each time an individual clicks on the advertisement and is directed to the web page that the marketer placed within the advertisment

Question 24

cost-per-impression

Answer 24

online ad purchase in which the cost of the ad is charged each time the ad shows up on a page that the user views

Question 25

search engine optimization (SEO)

Answer 25

systematic process to ensure that your firm comes up at or near the top of lists of typical search phrases related to your business

Question 26

landing page

Answer 26

single page on a website that is built for a particular direct marketing opportunity

Question 27

predictive analytics

Answer 27

uses large quantities of data within variables that have identified relationships to more accurately predict specific future outcomes

Question 28

marketing metrics

Answer 28

specific measures that help marketers watch the performance of their marketing campaigns, initiatives, and channels and, when appropriate, serve as a control mechanism

Question 29

click-through

Answer 29

metric that indicates the percentage of website users who have decided to click on an ad to visit the website/web page associated with it

Question 30

conversion

Answer 30

signifies an even that occurs on a web page that indicates the meeting of a predefined goal associated with the consumer’s interaction with that page

Question 31

cost-per-order

Answer 31

cost of gaining an order in terms of the marketing investment made to turn a website visitor into a customer who has chosen to make a transaction

Question 32

margin on sales

Answer 32

difference between the price at which a product is sold and the cost of the product