Marketing Final Exam: Chapter 17

Implementing Omnichannel Marketing

1. Document cross-channel consumer behavior; Where do people start their search? Where do they go to buy or shop? 2. Employ mutually reinforcing communication and delivery channels (they should compliment each other) 3. Monitor and measure performance.

Choiceboard

An interactive, digitally enabled system that allows individual customers to disign their own products and services by answering a few questions and choosing from a menu of product or service attributes, prices, and delivery options.

Customer Journey

Buyer's Persona (Creating a story or picture of your consumers so you can better understand them) > Customer's Goals > Identify Touchpoints (Where are the points you can engage customers on/why your product can add value to your life) > Identify Pain Points > Remove Roadblocks (This step and previous one are so important to fix so your customer has a seamless experience and trusts you more) > Take yourself on the journey > Update and improve

Cookies

Computer files that a marketer can download onto the computer and mobile phone of an online shopper who visits their marketer's website. This allows marketers to record a user's visit and store and retrieve this information in the future. Cookies also contain information such as product preferences, personal data, passwords, and credit card information.

How consumers shop online

Computers: 60% Phones: 5% Tablets: 6% All of the above/any: 29%

Exclusive Online Customer

Consumer shops and buys online Ex: Streaming services

Exclusive Offline Customer

Consumer shops in person and buys in-person. Ex: Luxury, furniture.

"Showrooming" Customer

Consumer shops in person but buys online (think seeing someone in Best Buy or Sam's Club and going home to look if there's better deals online) Ex: Electronics, kitchen appliances

"Webrooming" Customer

Consumer shops online but buys in person (seeing online but wanting to try it out in person) Ex: Clothing, cars

Eight-Second Rule

Customers will abandon their efforts to enter and navigate a website if download time exceeds eight seconds. This means more clicks and pauses between clicks required to access information or make a purchase, the more likely it is a customer will exit a website.

Marketspace

Digital environment/online stores. Dynamic and growing. Intangible.

Home Depot Transformation

Needed to revolutionize to stay relevant. They incorporated technology into their buying experience to make things easier for customers. Barcode Scanner to get all the info on a product while you're in store, Loyalty programs, Product search tool that can identify any product you're looking at but don't know the name.

Omnichannel Marketing

Omnichannel retailing creates a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping. Blurring the online and unperson buying experience.

Cross-Channel Consumers

Online consumers who shop online but buy offline or shop offline but buy online

Marketplace

Physical store. In-person interactions and relationships. This is Static and declining.

Personalization

The customer-initiated practice of generating content on a marketer's website that is custom tailored to an individual's specific needs and preferences.

Customization

The growing practice of not only customizing a product or service but also personalizing the marketing and overall shopping and buying interaction for each customer. Seeks to offer customer more than the right products, at the right time, at the right price.

Marketing Attribution

The practice and techniques used to credit or value a particular channel and consumer touchpoint

Permission Marketing

The solicitation of a customers consent (called "opt-in" ) to receive email and advertising based on personal data supplied by the customer. Three rules: 1. Opt-in customers only revise information that is relevant and manful to them. 2. Customers are given the option to opt0out or change frequency of messages they receive 3. Customers are assured their name or buyer profile will not be sold or shared with others.

Social Commerce

The use of social networks for browsing and buying

Interactive marketing

Two-way buyer-seller electronic communication in which the buyer controls the kind and amount of information received from the seller.

Behavioral Targeting

Uses information provided by cookies to direct online advertising from marketers to those online shoppers whose behavioral profiles suggest they would be interested in such advertising.

Virtual Marketing

digitally enabled promotional; strategy that encourages individuals to forward marketer-integrated messages to others via e-mail, social networking sites, and blogs. Three approaches: 1. Embed a message in the product/service so that customers hardly realize they are passing it along. 2. Make website content so compelling that viewers want to share it with others 3. Offer incentives.

Customer Experience

the sum of total interactions that a customer has with a company's website, from the initial look at the homepage through the entire purchase decision process. These elements are context, content, community, customization, communication, connection, and commerce