Social Media Marketing-Exam 1 Chapter 1 – Flashcards
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Social Media
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tool/service uses internet that bring about communication
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Crowdsourcing
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harnessing the collective power/knowledge of crowd
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User-defined content
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production of content by the general public; trends on twitter
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Network effects
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a good or service becomes more valuable when more people use it
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Scalability
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capability to operate under an increased workload
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Perpetual beta
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development and release of service being constantly updated
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Reputation economy
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reputation is shaped by the contributions of consumers
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Social Media Evolution
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1. Traditional (broadcast, radio, print) 2. Tradigital (banners, email) 3. Social Media (networks, blogs, communities)
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Paradigm Shift
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information flows through communication, causes change in beliefs and theories
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4 P's
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price, product, place, promotion
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Social Community
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relationships, common activities people do through two-way/multi way comm. ex fb
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Social Publish
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sites that help spread content to audience ex. youtube
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Social Entertainment
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play and enjoyment online ex. games, music
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Social Commerce
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online buy/sell products assisted by social media ex. groupon, facebook ads
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Social Media Marketing
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Pros: cheap, interactive, measurable, Con: time consuming, go away easily
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Traditional Marketing
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Pro: tangible Con: costly, one-way, hard to measure
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Consumer Purchase Process
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1. Increase awareness 2. Influence desire 3. Encourage trial 4. Facilitate purchases 5. Cement brand loyalty
