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MKTG 250 Ch. 17 & 20
Vocab Review
| Term | Definition |
|---|---|
| Physical marketplace | Here buyers and sellers engage in face-to-face exchange relationships in a material environment characterized by physical facilities (stores and offices) and mostly tangible objects. |
| Digital marketspace | a digitally enabled environment characterized by face-to-screen exchange relationships and electronic images and offerings. |
| Choiceboard | An interactive, Internet-enabled system that allows individual customers to design their own products and services by answering a few questions and choosing from a menu of product or service attributes (or components), prices, and delivery options. |
| Collaborative filtering | A process that automatically groups people with similar buying intentions, preferences, and behaviors and predicts future purchases. |
| Personalization | The consumer-initiated practice of generating content on a marketer’s website that is custom tailored to an individual’s specific needs and preferences. |
| Permission marketing | the solicitation of a consumer’s consent to receive e-mail (opt-in) and advertising based on personal data supplied by the consumer. |
| 7 C's of website design | Content, community, customization, communication, connection, commerce, context. |
| Content | text, pictures, sound, and video that the site contains |
| Community | The ways that the site enables user-to-user communication |
| Customization | Site's ability to tailor itself to different users or to allow users to personalize the site |
| Communication | The ways the site enables site-to-user, user-to-site, or two way communication |
| Connection | Degree that site is linked to other sites |
| Commerce | Site's capabilities to enable commercial transactions |
| Context | Site's layout and visual design. |
| Eight-second rule | A view that customers will abandon their efforts to enter and navigate a website if download time exceeds eight seconds. |
| Customerization | the practice of not only customizing a product or service but also personalizing the marketing and overall shopping and buying interaction for each customer. |
| Dynamic pricing | the practice of changing prices for products and services in real time in response to supply and demand conditions. |
| Cookies | computer files that a marketer can download onto the computer and mobile phone of an online shopper who visits the marketer’s website. |
| Behavioral targeting | Uses information provided by cookies for directing online advertising from marketers to those online shoppers whose behavioral profiles suggest they would be interested in such advertising. |
| Social commerce | the use of social networks for browsing and buying. |
| Cross-channel consumer | a consumer who shops online but buys offline, or shops offline but buys online. |
| Showrooming | the practice of examining products in a store and then buying them online for a cheaper price. |
| Webrooming | the practice of examining product online and they buying them in a store. |
| Social media | a digital technology that facilitates the creation and sharing of user-generated content – text, photos, video, and animation (games) – through virtual communities and network. |
| Social network | A single social media site with millions of user interacting with each other, like Instagram, Facebook, Pinterest, TikTok, X, and LinkedIn |
| Influencer marketing | the practice of focusing on the identification and recruitment of influencers to advocate a company’s products, services, and brands rather than focusing exclusively on prospective buyers. |
| Social shopping | the use of social network services and websites by consumers to share their latest purchases, deals, coupons, product reviews, want lists, and other shopping finds with friends and contacts. |
| a website where users may create a personal profile, add other users as friends, and exchange comments, photos, videos, and “likes” with them. | |
| a social networking service that allows users to upload photos and videos that can be edited with filters, organized with tags and locations. | |
| X | A website that enables users to send and receive “tweets,” messages up to 280 characters long. |
| YouTube | a video-sharing website in which users can upload, view, and comment on videos. |
| A pinboard-style photo- and content-sharing website. | |
| TikTok | a video hosting service owned by the Chinese company ByteDance that allows users to post videos ranging in duration from 3 seconds to 10 minutes. |
| A business-oriented website that lets users pot their professional profiles to connect to a network of businesspeople, who are also called connections. | |
| Customer engagement | the degree and depth of brand-focused interactions a customer chooses to perform online with their social network. |
| Apps | small, downloadable software programs that can run on smartphones and tablet devices. Also called mobile apps or applications. |
Created by:
dom23uriarte