Marketing Exam 4
relevant outlet rate
A commonly used metric for measuring distribution intensity is ______ _______ ______
mobile push notifications
A form of mobile marketing that proactively sends offers and information directly to consumers through texts, instant messages, or email
market share
A measurement of the sales of one brand divided by the total sales in a market; represents the proportion of sales one company or brand typically has relative to the rest of the market The percentage of the total sales in a product category going to a particular brand
breakeven analysis
A simple analytical tool for estimating this figure is called _________ _________. While the tool has been criticized for oversimplifying complex pricing and costing situations, breakeven analysis can provide reasonable price and quantity estimates if the input costs used to make the estimates are reasonably accurate.
category switcher
A third type of shopper, with consideration to elasticity of demand, is the ________ ________, who purchases other types or categories of products but switches over to the sale product.
banner advertisements
Advertisements placed in a limited space on a website
objective
All marketing endeavors should be ______ driven.
sales volume
An important metric to marketing managers is the ________ _________ needed to cover expenses, given a certain price and cost structure
control, ownership
Company websites remain a staple of digital marketing because of the absolute _____ and ______ of design, structure, and content
brand loyalty
Customer connections often lead to_______ ______, and in some cases, elevate the brand to lifestyle brand status, which is when consumers devote significant amounts of time interacting with brands and other brand users.
mobile devices
Digital media will increasingly be consumed on _____ _____. Use of mobile devices is growing while traditional media consumption such as TV viewership is declining
employee brand, influencer marketing.
Going forward, social media will experience trends such as _____ _____ advocacy through social media, an explosion in the importance of messaging, increasingly immersive technology, and the rise of ____ ____
several
Marketing campaigns frequently have ______ tactical components operating at the same time. In addition to assessing the effectiveness of each part, marketing managers also want to know how the campaign is doing overall
brand trial rate
Marketing managers are highly interested in the metric ____ ____ ____ which gives an indication of how well a brand is accepted by new users
useful, efficiently
Marketing managers should consider how _____ data can be captured and _______ utilized into decision making.
reach, frequency, impression
Metrics for traditional media center on two basic components: ________ , ___________, and _______
price
Of all components in the marketing mix, ________ is perhaps the most misunderstood and the most complex
price elasticity
Of all price related metrics, perhaps the most important is ______ _______
interactions
Omnichannel marketing seamlessly integrates consumer ______ with brands across multiple platforms and multiple occasions.
metrics
Once data have been collected, marketing managers apply ______ and interpret the results
logistical performance
One perspective in considering supply chain performance is ____ _____
word of mouth
Online reviews are becoming the new _____ ____ ___ in marketing.
opt-in
Permission given by the owner of an email address to a marketer to receive email information from the marketer
convenience
Producers, wholesalers, and retailers have a great mutual interest in seeing that the supply chains in which they operate live up to consumers' desire for _______
stockout.
Running short of inventory is called a _______. This are the bane of producers, retailers, and customers alike
top
Search engine optimization is important for company websites as they try to be near the ____ of search results lists produced by search engines such as Google
mobile display ads
Small banner-like ads delivered to mobile devices and activated through mobile browsers
financial, costs
Social media marketing is proving to be a powerful marketing tool, benefiting marketers with improved ______ performance, better customer data and insights, and very low _____
accelerated
Strong customer connections can be ________ by digital media through something called polysynchronous consumption, which is the near constant interaction with brand information, often from digital media
digital media tools
Techniques by which marketers use digital media to connect with customers
consumer culture
The explosion of digital media has extended our ____ _____ into the digital realm, creating a consumer digital culture.
sales figures
The first indication many marketing managers consider is ______ _______
market share
The first metric, ______ ______, is defined as the percentage of the total sales in a product category going to a particular brand competing in that category
supply chains
The goal of ___ ______is to provide consumers with the brands they want in the places they want them when they want to buy them
return on investment
The net profit return on some investment expressed as a percentage
consumer characteristics
The number of social media platforms is growing worldwide, with many becoming specialized to particular _____ _____
distribution intensity
The other perspective by which to consider supply chain performance is ______ _______
return on marketing investment
The percent contribution of marketing investments to a firm's gross profits
conversion rate
The percentage of message recipients who perform the action requested in the email The percentage of visitors to a website who complete a requested task
relative market share
The percentage of sales of a particular brand among a set of key competitors
return on investment (ROI)
The third metric,_____ ______ _____ is also a widely used metric of success and very frequently used to measure long-term strategic success
location based capabilities
The use of cellular or global positioning data to provide the exact location of a mobile device in real time
three
There are _______ metrics that can identify potential problems in these activities are commonly used by marketing managers
brand switchers
There are other shoppers who normally buy other brands, but choose a the brand that is on sale instead. These people, called _________ ___________
brand growth
To be meaningful, ____ _____ should be compared to overall category growth. Brands growing more slowly than the entire category are losing ground and may require additional investments or other tactical adjustments
relevant outlet
To effectively use the metric, marketing managers must carefully decide what constitutes a _____ _______, which generally means that members of the target market visit with some regularity.
schedule intensity
Together, reach and frequency are the two components of ________ _________
social proof
When people look to the actions of others for clues about acceptable behavior
strong
While stockouts may be an indicator of _______ consumer demand, they also represent lost sales and poor channel efficiency.
brand development index (BDI)
___ ____ ____, which gives an indication of how well sales of a brand to one target group compares to sales to other target groups is also useful for MRD.
MRD
____ ____ _____ applies to all elements of the marketing mix—product, price, place, promotion, and participation, and there are metrics by which to assess the effectiveness of decisions made regarding each
Brand communities
____ ____ are formed as people coalesce around brands through their shared brand connections
Return on marketing investment (ROMI)
____ _____ _____ _____ is a similar metric to ROI that may be more easily applied to the evaluation of marketing tactics. The idea behind this is to isolate the returns attributable directly to marketing efforts from those of other parts of a business
Mobile marketing
____ _____ is the practice of reaching consumers with marketing information through mobile devices
stockturn rate
____ which is a widely used and important metric for retailers and producers alike. The ____ ______measures how quickly individual SKUs move through a store
The quantified self and tracking movement
_____ _____ _____ _____ _____ ____ aims to measure all aspects of our daily lives with the help of technology.
Relative market share
_____ _____ ______ is often used in conjunction with market share when marketing managers want to compare movement in market share for their brands against that of other competitors, often the market leaders
Social media marketing
_____ _____ _____begins with deep knowledge of a brand's audience, coordinated messaging across platforms, the need for simple visual appeals, timely responses to customer complaints, and the need for quality content favored over content quantity
Digital media
_____ _____ can provide an infrastructure to create and grow brand communities
Mobile marketing
_____ _____ utilizes location-based services to pinpoint mobile device locations and push offers and information to consumers based on their proximity to stores, restaurants, and other marketing venues
Market penetration
_____ ______ is a metric identifying the percentage of a target market that has tried the product at least once
Email marketing
_____ ______will remain important to marketers because of the vast number of email accounts and exceptionally low cost
Tactics
______ are short-term, narrow operational decisions and actions that are used as parts of larger marketing strategies
Omnichannel
______ marketing will replace traditional multichannel marketing
apps
______ provide a tangible link between marketers and consumers to encourage long-term and repeated engagement with customers.
Effective
______ websites follow well-established principles of design that emphasize ease of use and navigation
Metrics
_______ for assessing success in meeting goals should be appropriate and should meet certain straightforward criteria, such as being easily implemented and clearly understood.
_______ still dominates social media.
_______ suffers from poor response rates and an image that portrays it as old-fashioned and out of date.
Logistical functions
__________ ________ extend beyond simply putting goods on trains or trucks and sending them on their way
Stockpilers
____________ are consumers who pick up extra units of products they usually purchase when they are offered at a lower price
Customer connections
are the accumulations of meaningful behavioral, social, and psychological contacts between people and brands or among people interacting about brands.
personalized digital culture
consumer-generated content is generally highly personalized to friends, family, and colleagues, while marketer-generated content is commonly personalized to consumer tastes and preferences
commercial email
electronic message that is promotional in nature and often contains some incentive to respond
Digital marketing
involves using largely internet-based technology to communicate with and deliver benefits to customers.
Digital media
is an umbrella term that encompasses the technologies and platforms that facilitate digital communication and benefit delivery. _____ _____ tools are the techniques used by marketers to enact digital marketing strategies and tactics.
Impression
is one advertisement being seen once by one person during a given period of time.
online review sites
location-based sites to post or access reviews for a broad range of businesses
mobile marketing
mobile marketing relies on three primary tools to reach and engage customers. (ex. mobile push notifications, mobile display ad, mobile apps)
omnipresent digital culture
more and more consumers are entering the digital culture, including older age groups not usually assumed to be part of this cultural shift
consumer centered digital culture
much of the consumer generated content created on various digital media pertains to the acitivies and opinions of the consumers creating the content Consumers inform friends about what they're doing now; consumers review the products and services they buy. The self-focused mindset encouraged by the consumer digital culture keeps consumers conscious of their own needs and receptive to products and brands that address those needs.
search engine optimization (SEO)
practice of designing websites that exploit search engine properties to get a particular website as close to the top of search results as possible
relevant outlet rate
quantifies how available the brand is to customers who would potentially want it
frequency
refers to the average number of times those people saw the advertisement.
Reach
refers to the percentage of people in your target audience exposed to an advertisement
interest based networks
social media networks dedicated to exploration of user interests allowing for a place for users to keep up with current trends relating to that interest
social media platforms
specific named sites or applications accessed by users
Tactical objectives
specify how marketing managers want the future to look in some way
information rich digital culture
the consumer digital culture creates an information-rich environment. Digital media produced information of use of both consumers and marketers. Consumers gain great insights into products and brands and, by tracking online behavior, marketers gain great insights into the consumers they serve
price elasticity
the percentage change in quantity sold that occurs with a percentage change in price. Price elasticity measures how responsive people are to changes in price.
spam
unwanted unsolicited email
social networking
websites and applications to connect and communicate informally with others sharing social contacts or interests
social media
websites and software applications designed for users to create and share information and ideas through networks of contacts they develop with other users
media-sharing networks
websites for publishing photos or videos, enabling the users to share with others either privately or publicly and embed media content in other social network sites
search engines
websites that use algorithms and databases of web content to match a user's keywords or search terms with websites that may be relevant to those terms
bookmarking sites
websites to publicly or privately share interesting and useful content with other users and to find useful and interesting content from other users
co-creation of value
which is when brands create value with customers and customer interactions with brands create value for marketers.
lifestyle brand status
which is when consumers devote significant amounts of time interacting with brands and other brand users
interconnected digital culture
while we often associate high levels of interconnectedness strictly with social media, other digital media channels permit multiple flows of information. Ex. product reviews on retailer websites such as Amazon may include questions and comments from other consumers or replies from marketers, all of which may be ready by thousands of others
social publishing platforms
written content of varying length and subject can be shared with other users in different forms
