Digital Retailing and Marketing Value Concepts

Vocabulary flashcards covering key digital retailing definitions, legal concepts, media frameworks, and e-commerce analytics based on the lecture notes.

Digital Retailing

Online business activities and digital processes used for creating, capturing, communicating, and delivering value to customers.

Rule Against Perpetuities

A legal doctrine stating that property rights cannot be transferred under conditions that extend indefinitely into the future, illustrated by the law school hypothetical of the pregnant octogenarian.

Effective State

A phase in the customer decision-making process where a consumer transitions from product search to developing personal, emotional feelings about how a purchase will improve their life.

POEM Framework

An acronym for Paid, Owned, and Earned Media, representing the three primary digital media categories used to drive customer reach and engagement.

Owned Media

Digital content and communication channels created and directly controlled by a retailer, including their official e-commerce sites, blogs, social media pages, and chat platforms.

Paid Media

Marketing channels that a company pays for, such as search engine advertising, to increase reach and attract new visitors to their web pages.

Earned Media

Organic brand discussions and content generated by third parties, such as customer reviews, independent blog posts, and unpaid influencer endorsements.

Sentiment Analysis

The process of tracking online customer mentions and social media comments to determine whether public sentiment toward a brand or product is positive or negative.

Listen, Analyze, Do Framework

A strategy framework where digital retailers listen to customer social media feedback, analyze sentiment and purchase funnel data, and execute targeted actions to support commerce.

Bounce Rate

An e-commerce web metric that measures the percentage of visitors who enter a website and leave without navigating further or taking action.

Cart Abandonment Rate

The percentage of online shoppers who add items to a virtual shopping cart but leave without completing the purchase, which sits at $68\%$ on desktop sites, $97\%$ on mobile sites, and $20\%$ on mobile apps.

Influencer Relevance

An evaluation criterion measuring how closely an influencer's brand identity and subject expertise align with the promoted product.

Influencer Reach

A metric quantifying the total audience size and number of unique individual followers an influencer can impact through their content.

Influencer Responsiveness

The measure of how actively an influencer's audience interacts with and responds to their promotions and recommendations.