Marketing Management 3404 Study Guide
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)
