Marketing Management 3404 Study Guide

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Retailing

All of the business activities involved in the sales of goods and services to an end consumer for their personal, family, or household use.

Future of retailing?

could lose self checkout

4 Dimensions of the Brand Asset Valuator

differentiation, relevance, esteem, knowledge

Second Moment of Truth (SMOT)

the actual experience a customer has with a product once he or she buys it and returns home

Sentiment Analysis

the analysis of the feelings behind words, using natural language processing tools

First Moment of Truth (FMOT)

the first three to five second window after a shopper first encounters a product on a store shelf

Breadth of Assortment

the number of distinct goods or service product lines that a retailer carries (multiple categories, best-selling options)

Depth of Assortment

the number of individual items offered within any single product line (one category, multiple options)

Search Engine Marketing (SEM)

the process of generating website traffic by purchasing advertisements on search engines

Consumer Life Value (CLV)

the total amount a customer will spend from acquisition through the end of a relationship with a brand

Brand Equity

the value a firm derives from consumer's positive perceptions of its products

Zero Moment of Truth (ZMOT)

when a customer uses a digital device to begin learning about a potential purchase

Search Marketing

a form of internet marketing that promotes websites by increasing their visibility in search engine result pages

What would an example be of a Convenience Store? -Dollar General -TJ Maxx -7/11 -Sam's Club

7/11

UGC, Branded Content, and Expert are all what types of marketing?

Content Marketing

Expert Content

Credible, third-party articles and reviews from unbiased journalists; also called earned media.

CLV equation

Customer value x average customer lifespan

Branded Content

Developed and owned by brand, like blogs, white papers, research reports, etc.

What would an example be of a Extreme Value Retailer? -Dollar General -TJ Maxx -7/11 -Sam's Club

Dollar General

Content Marketing

a marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly defined and profitable audience

Ryan purchases a new pair of running shoes at the mall. The actual experience Ryan has with the product once she buys it is referred to as the... -ZMOT -FMOT -SMOT -SEM

SMOT

What would an example be of a Wholesale Club? -Dollar General -TJ Maxx -7/11 -Sam's Club

Sam's Club

What would an example be of a Off-Price Retailer? -Dollar General -TJ Maxx -7/11 -Sam's Club

TJ Maxx

What does UGC stand for?

User Generated Content

5 Pillars of Personal Brand

Voices and Values Content Creativity Authenticity Personality

What does ZMOT stand for?

Zero Moment of Truth

Paid Media

publicity gained through advertising (ex: buying a thirty-second Super Bowl ad)

Earned Media

publicity gained through editorial influence (ex: online reviews or awards)

Owned Media

publicity gained via a brand-controlled source (ex: brand's website)


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