Digital Marketing FIU (Maria Garcia) – Flashcards
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Account aggregation
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the ability to obtain bank, investment, loan, and other financial account information from multiple Web sites and display it all in one location at the bank's Web site.
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Addressable media
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advertising efforts directed to a known addressee; includes direct mail, telephone calls, and e-mail.
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Advertising-subscription mixed revenue model
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subscribers pay a fee and accept some level of advertising. (The NewYorkTimes)
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Advertising-supported revenue model
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broadcasters provide free programming to an audience along with advertising messages. (TV, buzzfeed.com)
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Bill presentment
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electronic version of an invoice or billing statement
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Cannibalization
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occurs when sales of a product experience a lost due to the introduction of a newer production within the same product line.
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Channel conflict
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occurs whenever sales activities on a company's Web site interfere with its existing sales outlets.
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Channel cooperation
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giving customers access to the company's products through a coordinated presence in all distribution channels.
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Communication modes
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two general ways of identifying and reaching customers: personal contact and mass media.
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Digital content revenue model (fee-for-content)
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a model where companies sell rights to access the information they own. (Harvard Business School, Spotify)
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Digital Rights Management (DRM)
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limits the number of copies that can be made of each audio file.
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Fee-for-service revenue models
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fee is based on the value of the service provided. (professional services)
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Fee-for-transaction revenue model
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businesses offer services for which they charge a fee that is based on the number or size of transactions they process. (expedia, hotels.com)
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Paywall
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an approach where free content is available up to a point at which fees begin. A visitor can access free content until hitting a wall, and then must pay to pass over that wall. (Hulu's free month, Spotify's free month of Premium)
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Prospecting
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identifying and reaching customers.
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Stickiness
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a Web site's ability to keep visitors at the site and attract repeat visitors.
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Usability testing
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the testing and evaluation of a site to ensure ease of use for site visitors.
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Web catalog revenue model
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replacing or supplementing print catalogs with information on a Web site. (retail stores' websites)
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Acquisition cost
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total amount of money that a company spends, to acquire one customer.
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Affiliate marketing
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online retailer pays a commission to an external website for traffic or sales generated from its referrals
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Analytical processing (Data Mining)
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examining large databases in order to generate new information.
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Bot
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is a software application that runs automated tasks (scripts) over the Internet
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Cause marketing
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an affiliate marketing program that benefits a charitable organization.
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Clickstream
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a series of clicks made while using a website or in linking to multiple websites.
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Click-through
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occurs when the visitor clicks the banner ad to open the advertiser's page.
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Contextual advertising
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A story about cake with a side ad banner of cake mix
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Conversion rate
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the percentage of visitors who are converted into customers
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Crawler
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a program that automatically searches the Web to find Web pages that might be interesting to people.
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Customer relationship management (CRM)
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practices, strategies and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle, with the goal of improving business relationships with customers
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Data warehouse
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a large database used to store the multiple sources of information about customers, their preferences, and their behavior.
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Database
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the storage element of a search engine.
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Domain name hosting & parking
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service that permits the purchaser of a domain name to maintain a simple Web site (usually one page) so that the domain name remains in use.
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Funnel model of customer acquisition
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used as a conceptual tool to understand the overall nature of a marketing strategy, but it also provides a clear structure for evaluating specific strategy elements.
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Impression
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Measurement, each time a banner ad loads.
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Interactive advertising bureau (IAB)
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a not-for-profit organization that promotes the use of Internet advertising and encourages effective Internet advertising.
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Interactive marketing unit (IMU) ad format
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the standard banner sizes that most websites have voluntarily agreed to use.
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Interstitial ad
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Full screen ads that block the site (like game apps)
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Leaderboard ad
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a banner ad that is designed to span the top or bottom of a Web page.
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Localized advertising
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variation of paid placement ads that uses search engine page results generated in response to a search for products or services in a specific geographical area.
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Occasion segmentation
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behavioral segmentation that occurs when things happen at a specific time or occasion. (Halloween, Christmas)
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Psychographic segmentation
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marketers group customers by variables such as social class, personality, or their approach to life.
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Retained customers
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customers who return to the site one or more times after making their first purchases.
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Retention costs
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costs of inducing customers to return to a Web site and buy again.
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Rich media ads
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Ad that uses rich media such as video, graphic displays and sounds.
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Search engine optimization
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the combined art and science of having a particular URL listed near the top of search engine results.
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Site sponsorships
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give advertisers a chance to promote their products, services, or brands in a more subtle way than by placing banner or pop-up ads on the sites.
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Statistical modeling (Data Visualization)
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a technique that tests theories that CRM analysts have about relationships among elements of customer and sales data.
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Trial visit
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the first time that a particular visitor loads a Web site page.
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Trigger words
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Web site keywords that prompt a visitor to stay and investigate the products or services offered on the site.
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Universal Ad Package (UAP)
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the four most common standard Web ad formats used on the Web today.
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Usage-based market segmentation
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customizing visitor experiences to match the site usage behavior patterns of each visitor or type of visitor.
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Apps
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application software that can run on mobile phones.
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Ascending-price auction
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an auction where bidders publicly announce their successive higher bids until no higher bid is forthcoming. Also called an English auction, Open Auction or open-outcry auction.
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Auction consignment services
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take an item and create an online auction for that item, handle the transaction, and remit the balance of the proceeds after deducting a fee that ranges from 25 to 50% of the selling price obtained.
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Auctioneer
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manages the whole auction process.
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Bidders
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potential buyers.
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Bulletin board systems (BBSs)
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Software that allows users to connect using terminal to read and post messages in a common discussion forum
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Consumer-to-business
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is a business model in which consumers (individuals) create value and businesses consume that value. (Reversal from traditional Business-to-Consumer model) Example: A photographer that offers stock images to business // a blogger that shares her experience in a restaurant.
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Crowdfunding
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social networking sites that provide funds for a business idea or entrepreneurs who can sell partial ownership in their ventures to investors.
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Descending-price auctions
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a form of open auction in which bidding starts at a high price and drops until a bidder accepts the price. Synonymous with Dutch auctions.
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Double auction
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buyers and sellers each submit combined price-quantity bids to an auctioneer.
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Escrow service
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an independent party that holds a buyer's payment until the buyer receives the purchased item and is satisfied that the item is what the seller represented it to be.
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First-price sealed-bid auction
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auction where bidders submit their bids independently and are usually prohibited from sharing information with each other.
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Group purchasing site
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Online auction sites like Ebay
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Liquidation brokers
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firms that finds buyers for unusable and excess inventory, like Overstock.com
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Lock-in effect
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name used by economists to describe the basic economic fact where existing auction sites, such as eBay, are inherently more valuable to customers than new auction sites. (where a company makes it extremely hard for their customers to leave them, even if the customer wants to.)
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Massive Open Online Course (MOOC)
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online course aimed at unlimited participation and open access via the web. Example: Coursera
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Microblogs
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Twitter.
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Microlending
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the practice of lending very small amounts of money to people who are starting or operating small businesses, especially in developing countries.
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Minimum bid increment
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the amount by which one bid must exceed the previous bid.
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Open-Outcry Auction
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auction conducted by the Chicago Board Options Exchange where buy and sell offers are shouted by traders standing in a small area on the exchange floor called a trading pit.
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Open-Source software
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software developed by a community of programmers who make the software available for download and re-programming at no cost.
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Proxy bid
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Automated software that makes a bid automatically increase to the next highest increment needed to exceed any bid, up to a bidder-specified maximum bid.
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Reserve
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a minimum acceptable price established by sellers.
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Reward-based crowdfunding
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investors pay in advance for products (or services) to be delivered when the company makes them using the invested funds. Example: Kickstarter.com
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Rooting
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Like Jailbreak, but for Androids.
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Shill bidder
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people employed by the seller or the auctioneer who can make bids on behalf of the seller.
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Snipe
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the act of placing a winning bid at the last second.
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Sniping software
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observes auction progress until the last second or two of the auction clock. Just as the auction is about to expire, the sniping software places a bid high enough to win the auction (unless that bid exceeds a limit set by the sniping software's owner).
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Virtual learning network
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distance learning platforms such as Blackboard for student-instructor interaction.
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Wireless Application Protocol (WAP)
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allows Web pages formatted in HTML to be displayed on devices with small screens, such as mobile phones.
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Advance Fee Fraud
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The scammer asks the victim for a small amount of money so he can then "share" a bigger amount received thanks to that investment but it's all a fraud.
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Amazon Laws
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State law that require online retailers to collect and remit sales taxes on sales they make in their states, even though the online retailers do not have nexus with the state
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Authority To Bind
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when an employee of a company accepts a contract and the company later asserts that the employee did not have such authority to do so
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Breach of Contract
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Occurs when either party to a contract does not comply with the terms of the contract; the other party can sue for failure to comply
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Browser-Wrap Acceptance (or Web-Wrap Acceptance)
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Agreeing to a site's EULA (end-user license agreement) or its terms and conditions by using a website
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Business process patent
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a method of operating any aspect of an economic enterprise, can be controversial
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Common law
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Basic system of legal concepts, together with the techniques of applying them in courts of law
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Conflict of laws
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In the US, business is governed by federal laws, state laws, and local laws. Sometimes, these laws address the same issues in different ways
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Constructive notice
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legal fiction that signifies that a person or entity should have known, as a reasonable person would have, of a legal action taken or to be taken, even if they have no actual knowledge of it. (When they arrested the american kid for taking down a poster of Kim Jong Un, he should have know that was illegal)
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Cookies
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Small text files placed on Web client computers to identify returning visitors
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Cybersquatting
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The practice of registering a domain name that is the trademark (or similar) of another person or company in the hopes that the owner will pay huge amounts of money to acquire the URL
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End-user license agreements (EULAs)
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A contract that the user must accept before installing the software
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Fair use
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Legal copying copyrighted work for use in criticism, comment, news reporting, teaching, scholarship, or research
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Forum selection clause
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A contract that includes a statement that the contract will be enforced according to the laws of a particular state
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Implied contract
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Formed by two or more parties that act as if a contract exists, even if no contract has been written and signed
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Implied warranty
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Promise to which the seller can be held even though the seller did not make an explicit statement of that promise
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Negligent tort
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The seller unintentionally provides a harmful product
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Nexus
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The connection between a tax-paying entity and a government
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Patent
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An exclusive right granted by the government to an individual to make, use, and sell an invention
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Patent assertion entity
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A person or a company who buys patents from the original inventors and then enforce the rights granted by the patents by suing other who use the patents without permission
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Product disparagement
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Occurs when a statement injures the reputation of a product or service instead of a person
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Streamlined Sales and Use Tax Agreement (SSUTA)
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An agreement between U.S. states that would simplify state sale taxes by making the various state tax codes more congruent with each other while allowing each state to set its own rates
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Term of service (ToS)
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Detailed rules and regulations intended to limit the website owner's liability for what you might do with information you obtain from the site
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Tort
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An intentional or negligent action (other than breach of contract) taken by a legal entity that causes harm to another legal entity
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Trade name
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The name (or a part of that name) that a business uses to identify itself
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Trademark
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A distinctive mark, device, motto, or implement that a company affixes to the goods it produces for identification purpose
