Chapter 2: E-Marketing and Performance Metrics – Flashcards
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strategic planning
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the "process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing market opportunities"
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performance metrics
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specific measures designed to evaluate the effectiveness and efficiency of an organization's operations
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strategy
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the means to achieve a goal
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e-business strategy
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the deployment of enterprise resources for capitalizing on technologies to reach specified objectives and ultimately improve performance and create sustainable competitive advantage
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e-marketing strategy
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a marketing strategy using information technology
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e-business model
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a method by which the organization sustains itself in the long term using information technology, which includes its value proposition for partners and customers as well as its revenue streams
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revenue streams
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cash flows that may come from Web site product sales, advertising sales, and agent commissions
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marketing concept
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the idea that an organization exists to satisfy customer wants and needs while meeting organizational objectives
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value
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benefits minus costs
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competitive intelligence (CI)
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the analysis of the industries in which a firm operates as input to the firm's strategic positioning and to understand competitor vulnerabilities
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customer relationship management (CRM)
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CRM is the process of targeting, acquiring, transacting, servicing, retaining, and building long-term relationships with customers that add value both to the organization and to the customer
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supply chain management (SCM)
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the behind-the-scenes coordination of the distribution channel to deliver products effectively and efficiently to customers
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community building
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firms build Web sites to draw groups of special interest users
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blogs
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also known as Web logs, Web sites where entries are listed in reverse chronological order and readers can comment on any entry
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affiliate programs
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a link to an e-tailer's Web site, put in by firms to make a commission on all purchases by referred customers
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database marketing
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collecting, analyzing, and disseminating electronic information about customers, prospects, and products in order to increase profits
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enterprise resource planning (ERP)
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back-office operations such as order entry, purchasing, invoicing, and inventory control that allow organizations to optimize business processes while lowering costs
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mass customization
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the internet's unique ability to individualize marketing mixes electronically and automatically to the individual level
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crowdsourcing
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this is the practice of outsourcing ads, product development, and other tasks to people outside the organization
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freemium
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this is a combination of "free" and "premium" where companies offer a basic product for free and then provide upgraded versions for a fee. this pricing model is commonly used for technology products, such as mobile apps
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location-based marketing
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delivers local and relevant content to a user's mobile device using GPS technology
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e-commerce
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use of digital technologies such as the internet and bar code scanners to enable the buying and selling process. e-commerce is about transactions through distribution channels and e-tailing
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virtual worlds
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sites where users can take the form of avatars and socialize in an online space of their own making
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social commerce
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is a piece of e-commerce that uses social media and consumer interactions to facilitate online sales
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direct distribution
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refers to a type of e-commerce in which manufacturers sell directly to consumers, eliminating intermediaries such as retailers (the Dell model)
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content sponsorship
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an e-commerce business model that involves companies selling online Web site space or e-mail space to advertisers
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portal
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a point of entry to the internet that combines diverse content from many sources
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social network
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nodes of individuals or organizations that are connected based on common values, ideas, friendships, and so forth
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online brokers
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intermediaries who assist in purchase negotiations without actually representing either buyers or sellers
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online exchange
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electronic forum in which buyers and sellers meet to make transactions
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online auction
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the auction-style sale of merchandise via the internet
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online agents
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represent either the buyer or the seller and earn a commission for their work
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selling agents
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an entity that represents a single firm to help it move products and normally works for a commission
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manufacturer's agents
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an entity that represents more than one seller, and, in the virtual world, generally creates Web sites to help an entire industry sell products
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purchasing agents
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represent buyers. in traditional marketing, they often forge long-term relationships with one or more firms; on the internet, however, they represent any number of buyers, often anonymously
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shopping agents
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programs that allow the consumer to rapidly compare prices and features within product categories. shopping agents implicitly negotiate prices downward on behalf of the consumer by listing companies in order of best price first
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reverse auction
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an exchange arrangement in which individual buyers enter the price they will pay for particular items at the purchasing agent's Web site, and sellers can agree to pay that price or not
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pure play
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a business that began only on the internet, even if it subsequently added a brick-and-mortar presence
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performance metrics
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specific measures designed to evaluate the effectiveness and efficiency of an organization's operations
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Web analytics
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tools that collect and display information about user behavior on a Web site
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Cookie files
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are small data files written to a user's hard drive when visiting a site
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page tags
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one pixel on a page that is invisible to users. (a pixel is one dot of light on a computer screen)
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geolocation
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this includes many different technologies to locate an internet-enabled device (and its owner) at its physical world address: for example WiFi, GPS (global positioning satellite coordinates), or simply IP addresses (internet protocol)
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Balanced Scorecard
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an enterprise performance management system that links strategy to measurement by asking firms to set goals and subsequent performance metrics in four areas: customer, internal, innovation and learning, and financial
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impressions
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the number of times an ad was served to unique site visitors, regardless of whether they looked at it
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share of voice (SOV)
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the proportion of online conversations about one brand versus its competitors
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sentiment
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this is the proportion of online conversation about a brand that is positive, negative, or neutral
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tagging
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involves attaching keywords to video, photos, or text to help users find the desired content
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click-through
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determined when a Web surfer clicks on a banner or another ad that is hyperlinked to the advertiser's site
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knowledge management (KM)
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a combination of a company's database contents, the technology used to create the system, and the transformation of data into useful information and knowledge
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business-to-business (B2B) exchange
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a special place because it allows buyers and sellers in a specific industry to quickly get connected
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unique visitors
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measures the number of visitors - without repetition - who access a site, application, video, or other social media content within a specific period of time
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page views
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refers to single pages that are viewed on a social media site
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number of searches
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measures the number of times users search for the brand, company, or associated key words selected by the organization while typing the key words in a search engine
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search engine ranking
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evaluates where the organization's social media content appears in the search engine results pages for desired key words
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number of followers, registrations, or subscribers
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to the blog, social network page, video channel, or other content
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brand influence
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can include a number of other metrics, including number of inbound links to a social media property, number of Twitter links that are retweeted, number of comments on posts, and number of times content is shared or linked
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content viewership
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refers to the number of visitors who consumer content, such as by reading a blog (page views), watching videos or listening to podcasts, and downloading white papers
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membership/follower metrics
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count the number of RSS (Really Simple Syndication) subscribers, members in a community, such as LinkedIn or meetup.com group, or number of followers on Twitter
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number of shares
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measures how many times viral content is shared with others
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content creation
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counts the number of visitors who upload ads for a contest, such as the Frito Lay Super Bowl promotion
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content form completion or registration
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allowing the company to add the person to their database of names, e-mail addresses, and more
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event attendance
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online or offline, based on a social media promotion for a Webinar or other event
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purchase
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the ultimate goal for company marketers
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number of ideas
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shared in a company's social media site (such as My Starbucks Idea)
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trend spotting
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helps companies know what is hot in their target markets
