MKT 4440 Exam 1 Study Materials by Aaron Gleiberman

What was the first social media website?

six degrees

what was the first social media website that you could advertise on?

facebook

what is a brand pyramid?

framework that outlines a brand's identity and market positioning

What is a SWOT analysis?

strengths, weaknesses, opportunities, threats

what is a pillar page?

website page that covers a specific topic in-depth and is linked to a cluster of related content

What is SEO?

Search Engine Optimization

what are some third party companies?

hootsuite and sprout social

what is an example of a social media company?

hootsuite or hubspot

what is the clue train manifesto?

95 thesis document with the idea that the reason that social media marketing is the best is because conversation is the basis of marketing

What is the Granovetter 1973?

a paper that shaped our understanding for social networking, weak ties create connections in networks connecting people to those who they are less likely to encounter with strong ties (ex: celebrities) 

What is brand equity?

the feelings we have towards a brand (our opinion)

What is brand value?

the actual number that shows how much the company is worth

what is the difference between brand value and brand equity?

Brand equity refers to the importance of a brand in the customer's eyes, while brand value is the financial significance the brand carries

What is USP?

how we increase brand equity, their unique selling point.

what is normal distribution?

a function that represents the distribution of many random variables as a symmetrical bell-shaped graph.

What are the 4P's of the marketing mix?

Product, Price, Place, Promotion. They help businesses decide how to sell a product and where to position it in the market

what is the meaning of CEOTO?

a way to analyze your brand, companies should continuously re-evaluate their strategies to penetrate new markets.

What does a SMART goal stand for?

Specific, Measurable, Attainable, Realistic, Timely

What is a SMART goal used for?

used to turn a vague intention into a smart and trackable plan

What is a KPI? (key performance indicator)

criteria that measure how efficient and effective a business is at achieving different objectives (ex: engagement rates, clicks, likes, shares, etc.)

what is a landing page?

A special page specifically for people who click on your ad

What is anecdotal evidence?

Advice based on an individual persons experience

What is SERP?

Search Engine Results Page, the page you see after you type something into Google

What is affiliate marketing?

when a blog is writing about a product, they link a product so they get commission for sales

What is UGC?

user-generated content

How do you buy ads on social media?

auction

What is ROI?

return on investment

how do you calculate ROI?

(Revenue - Cost) / Cost x 100 = Return on investment %

What is targeting?

marketers evaluate the attractiveness of each potential segment and decide which groups they will invest to turn them into customers

what is segmenting?

dividing a broad consumer or business market, into sub-groups of consumers based on shared characteristics.

what does demographic mean?

a particular sector of a population

what is organic content?

Team created communication that appears to be original and creative and not just a marketing strategy

what is TAO?

Tracking, Analyze, Optimize

what is conversion optimization?

the process of testing hypotheses on elements of your site with the ultimate goal of increasing the percentage of visitors who take the desired action.

what is the current name for googles ad manager?

Google Ad Manager (GAM)

interesting fact about statistics.

helps you use the proper methods to find data and properly use them.

what are payment models?

tell you what your goal is and what you will get paid for (ex: cost per click, cost per mille)

what is an example of normal distribution in your life?

me and my friends are different heights but some are the same, the tip of the bell curve is about 5'2

what is the C in Ceoto?

context - how it operates its business

what is the E in cEoto?

exchange- the sell of product, trading to increase brand equity

what is the O in ceOto?

Objects - SMART goals, need to know exactly what to look for in customers

what is the T in ceoTo?

Tactics- methods used to bring customers

what is the O in ceotO?

optimize- doing everything to see what we can do better

What is PESTLE?

Political, Economic, Social, Technological, Legal, Environmental

What is native analytics?

analytics analyzing for that platform (ex: facebook using their facebook analytics to run their data)

what is an example of a social media strategy?

finding the engagement rate of videos

what are the guidelines to creating ads on social media?

1. strategize

2. moblize

3. analyze

what is ORM?

online reputation management, shaping how a person or brand is perceived on the internet.

what is inbound marketing?

focuses on earning a customer's attention (ex: blog posts, tutorials, newsletters)

what is total corpus?

the total money invested in a particular scheme by all investors.

how many times does one need to see a ad on social media?

7 times

what are some examples of ad managers?

google ad manager, Meta from Facebook

what is CTA?

Call To Action, a term that refers to the next step or the action that the marketer wants the consumer to take

what is UGC?

User-generated content, brand-specific content created by customers and published on social media or other channels

what is significance?

A 'significant' result means that the researcher can reject the null hypothesis.

double blind method

research with bias removed/reviewed anonymously on both parties

misleading absolutes

numerical figures presented in a way that inaccurately portrays data to deceive or influence (ex: lose 10 pounds in 7 days, guaranteed)

erroneous conclusion

drawing an incorrect inference from data (ex: more than 80% of dentists prefer colgate)

inappropriate scale

misleading axis on a graph or incorrect type of graph being used (ex: fox news article about % of christians decreasing)

ignoring timeframe

treating the data as an independent observation even though they are sequentially linked (ex: today’s temperature is highly related to yesterdays)

causation

things happen because of something else

correlation

things happen at the same time

cross sectional method data

data collected in one moment of time

longitudinal data

data collected over a long period of time

primary data

brand new data from a question answered

What does CEOTO stand for?

Context, Exchange, Objects, Tactics, Optimize