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Questions and Answers
What is a key benefit of the long-tail marketing approach?
What is channel conflict an example of?
What is a key impact of the internet on marketing communications?
What is an example of an internet marketing technology?
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What do web transaction logs typically record?
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What type of data can web transaction logs help answer?
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What is a benefit of combining web transaction logs with registration forms and shopping cart databases?
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What is the primary function of a database management system (DBMS)?
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What is the purpose of Web beacons in online tracking?
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What is the primary goal of data mining in online tracking?
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What is the main concern about online tracking methods?
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What type of data is typically collected in a data warehouse?
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What is the purpose of a relational database?
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What is the goal of query-driven data mining?
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What is the primary goal of psychographic research in the context of online purchasing decision?
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Which of the following stages is NOT part of the consumer decision process in online purchasing?
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What is the primary focus of clickstream behavior analysis?
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What is the relationship between e-commerce and traditional commerce?
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What percentage of Internet users are buyers?
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What is a major driver of growth in social marketing?
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What percentage of companies with 100+ employees use Twitter?
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What is the primary reason for tracking clickstream behavior?
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Which of the following factors is NOT a characteristic of clickstream behavior?
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What is a primary use of blogs in marketing?
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What is the primary goal of viral marketing?
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What is a growing format in mobile marketing?
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What is a revenue source for app marketing?
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What is a popular type of app?
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What is a feature of social marketing?
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What is a use of social marketing?
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Study Notes
Long-Tail Marketing
- The internet allows for the sale of obscure products with little demand, generating substantial revenue due to near-zero inventory costs and little marketing costs, with the help of search and recommendation engines.
Channel Management
- Channels refer to different methods of distributing and selling goods and services.
- Channel conflict occurs when a new sales venue threatens or destroys existing sales venues, e.g., online airline/travel services vs. offline travel agencies.
- Some manufacturers use a partnership model to avoid channel conflict.
The Revolution in Internet Marketing
- The internet has broadened the scope of marketing communications, increased their richness, and expanded the information intensity of the marketplace.
- The always-on mobile environment has expanded marketing opportunities.
- Internet marketing technologies include:
- Web transaction logs
- Tracking files
- Databases and data warehouses
- Data mining
- Hadoop and Big Data
- Customer relationship management systems
Web Transaction Logs
- Built into web server software, these logs record user activity at a website and provide valuable marketing data, especially when combined with:
- Registration forms
- Shopping cart databases
- Logs answer questions such as:
- What are major patterns of interest and purchase?
- Where do users go after the home page?
Tracking Files
- These files track users as they move from site to site.
- Four types of tracking files exist:
- Cookies (small text files placed by a website)
- Flash cookies
- Beacons (“bugs”)
- Apps
Databases
- A database stores records and attributes.
- A database management system (DBMS) is software used to create, maintain, and access databases.
- SQL (Structured Query Language) is an industry-standard database query and manipulation language used in relational databases.
- Relational databases represent data as two-dimensional tables with records organized in rows and attributes in columns.
Data Warehouses and Data Mining
- A data warehouse collects a firm's transactional and customer data in a single location for offline analysis.
- Data mining involves analytical techniques to find patterns in data, model customer behavior, and develop customer profiles.
- There are three types of data mining:
- Query-driven data mining
- Model-driven data mining
- Rule-based data mining
Online Purchasing Decision
- Psychographic research combines demographic and psychological data to divide the market into groups based on social class, lifestyle, and/or personality characteristics.
- The consumer decision process involves:
- Awareness of need
- Search for more information
- Evaluation of alternatives
- Actual purchase decision
- Post-purchase contact with the firm
Model of Online Consumer Behavior
- The decision process is similar for online and offline behavior.
- Factors influencing online consumer behavior include:
- Consumer skills
- Product characteristics
- Attitudes toward online purchasing
- Perceptions about control over the web environment
- Website features (latency, usability, security)
- Clickstream behavior
Clickstream Behavior
- Factors influencing clickstream behavior include:
- Number of days since last visit
- Speed of clickstream behavior
- Number of products viewed during last visit
- Number of pages viewed
- Supplying personal information
- Number of days since last purchase
- Number of past purchases
- Clickstream marketing is developed dynamically as customers use the internet.
Online Shoppers
- 88% of internet users are shoppers, with 72% being buyers and 16% being browsers.
- One-third of offline retail purchases are influenced by online activities.
- Online traffic also influences offline brands and shopping.
- E-commerce and traditional commerce are coupled, being part of a continuum of consuming behavior.
Social Marketing
- Social marketing is the fastest-growing type of online marketing, with unknown long-term prospects.
- Four features drive growth:
- Social sign-on
- Collaborative shopping
- Network notification
- Social search (recommendation)
Twitter Marketing
- Twitter allows for real-time interaction with consumers.
- 50% of companies with 100+ employees use Twitter.
- Twitter marketing products include:
- Promoted Tweets
- Promoted Trends
- Promoted Accounts
Blog Marketing
- 43% of all US companies use blogs for marketing.
- Blogs are ideal for starting viral campaigns and can be used for branding messages and advertisements.
- Blog advertising networks and brand advocacy blogs exist.
Viral Marketing
- Viral marketing is a form of social marketing where customers pass along marketing messages to friends, family, and coworkers.
- Referred customers cost less to acquire and keep.
Mobile Marketing
- Mobile marketing accounts for 7% of online marketing and is growing rapidly.
- Major formats include:
- Messaging (SMS)
- Display
- Search
- Video
- Other formats include:
- QuickResponse (QR) codes
- Couponing
App Marketing
- Revenue sources include:
- Pay-per-app
- In-app purchase
- Subscriptions
- Advertising
- Most popular types of apps include social networks, banking, search, and news.
- Retailer's apps allow for browsing and purchasing.
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Description
This quiz covers marketing strategy and channel management, including long-tail marketing and channel conflict. Topics include distribution and sales methods, online marketing, and inventory costs.
