Marketing Final: Chapter 18

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Social Commerce
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-combines social media with the basics of e-commerce -involves interaction and user contribution aspects of social media to assist online buying and selling of products and services (ex: Pinterest lets users collect ideas and products from all over the web and \”pin\” fav. items to individually selected pinboards. Other users browse these pins, click on what they like and either visit the website where the product is from or re-pin the items on their pinboards)
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Crowdsourcing
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using consumers to develop and market products
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T/F: Crowdsourcing describes how the input of many people can be leveraged to make decisions that used to be based on the input of only a few people.
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True
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social media monitoring
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process of identifying and assessing what is being said about a company, individual, product, or brand
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What are the actions a marketing team should take when initiating a social media campaign?
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Listen to what customers are saying and develop objectives for its social media
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When setting social media objectives, marketing managers should consider…..
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1. Listen and Learn (monitor what is being said about the brand and competitors) 2. Build relationships and awareness (open dialogue) 3. Promote products and services (get customers talking about products and services) 4. Manage your reputation (develop and improve brand’s reputation by responding to comments 5. Improve customer service (search out displeased customers and engage them directly in order to solve their service issues)
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Six categories of social media users
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1. Creators 2. Critics 3. Collectors 4. Joiners 5. Spectators 6. Inactives
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Creators
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Those who produce and share online content like blogs, websites, articles, and videos
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Critics
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Those who post comments, ratings, and reviews of products, and services on blogs and forums
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Collectors
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Those who use RSS feeds to collect information and vote for Web sites online
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Joiners
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Those who maintain a social networking profile and visit other sites
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Spectators
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Those who read blogs, listen to podcasts, watch videos, and generally consume media
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Inactive
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Those who do none of these things
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A unique consequence of social media is the wide-spread shift from
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one-to-many communication to many-to-many communication
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A listening platform with key word report capabilities is necessary when
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tracking brand mentions
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What does the second step of effective listening involve?
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The second step of effective listening involves tracking brand mentions
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A listening platform with a large staff dedicated to the client is necessary when
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Identifying market risks and opportunities
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________ text messages sent to and from cell phones are referred to as SMS
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160-character (SMS)
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An organization recognizes customers where they are with ________ .
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customer inquiry.
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The first stage of effective listening requires
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listebing without objective, and it requires social media notification tools
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The first stage of an effective social media plan is the
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listening stage.
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A listening platform with a large staff dedicated to the client is necessary when ________ .
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Identifying market risks and opportunities
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On Facebook, the growth in new profiles is highest among ________ .
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Growth in new profiles is highest among baby boomers
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Tracking brand mentions requires
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listening platform
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Social customer relationship management (CRM) systems to sync data are used to
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understand customers better
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The second step of effective listening involves
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tracking brand mentions.
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Improving campaign efficiency requires
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web analytics software.
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The final stage of effective listening involves
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being proactive and anticipating customer demands.

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