Lesson 1 Flashcards
are traditional companies not involved with the Internet. They are likely to be small in size and scope.
Bricks-and-mortar firms
do business just online. They don’t have traditional facilities. Many entered the marketplace in the 1990s and often expanded too fast, resulting in going out of business. Still, there are thousands of these firms.
Clicks-only firms
operate in both a traditional setting and on the Internet. Virtually all large retailers, as well as manufacturers, wholesalers, government organizations, nonprofit organizations, and others, have a Web presence.
Bricks-and-clicks firms
divides the pool of potential customers into groups, or segments.
Market Segmentation
Places, Location, Etc
Geographic Segmentation
Sex, Age, Religion
Demographic Segmentation
Mind
Psychographic Segmentation
web companies can cater most of their customers’ behavioral needs.
Behavioral Segmentation
web site usage behavioral pattern.
Usage Based Segmentation
they just surf the web. Web sites who intend to appeal to potential customers in this mode must offer them something that piques their interest.
Browser
The site should include words that are likely to jog the memories of visitors and remind them of something they want to buy on the site. These are called _______
trigger words
site visitors who are ready to make a purchase right away.
Buyers
is part of the web site that keeps track of selected items for purchase and automates the purchasing process
shopping cart
Some customers arrive at a web site knowing that it offers items they are interested in buying.
Shoppers
These visitors are motivated to buy, but they are looking for more information before they make a purchase decision.
Shoppers
It justifies why the business matters, what the business’ purpose is and what value the business adds to people’s lives.
brand
The purpose of a _________ is to determine what the business is about and to then address the business or brand challenge, or objective that has been revealed.
marketing strategy
four pillars of marketing strategy
- The environment
- The business
- The customers
- The competitors.
It is the overall context or ‘outside world’ in which the business functions. I
environment
PESTLE
political, economic, social, technological, legal and environmental
It is the one characteristic that can make your product or service better than the competition’s.
unique selling point (USP)
this is to introduce the brand to the potential customer. This is achieved through massive advertising campaign. Included here are the different benefits of the product, where to buy, price, and what the brand stands for.
Awareness
This is the part where the potential customer is considering buying the product of the brand.
Consider
This is the part where the customer is already analyzing the characteristic of the brand to know whether to buy it or not.
Evaluate
you have already captured the interest of the customer and has converted them from potential customers to actual buyers.
Buy
when you have achieved brand loyalty.
Loyalty Loop
