Mar Segment 16

Physical Marketplace

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 Marketplace

Digitally enabled environment characterized by face to screen exchange relationships and electronic images and offerings

Legacy companies

trace their origins to the physical marketplace are continually challenged to define the nature and scope of their digital presence

Digital Natives

Marketspace origins are challenged to continually refine, broaden and deepen their marketspace presence

Interactive Marketing

Two-way buyer–seller electronic communication in which the buyer controls the kind and amount of information received from the seller.

Choice Boards

An interactive, digitally 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 (called “opt-in”) to receive e-mail and advertising based on personal data supplied by the consumer.

Customers experience

the sum total of the interactions that a customer has with a company’s website, from the initial look at a home page through the entire purchase decision process.

Context

website’s aesthetic appeal and the functional look and feel of the site’s layout and visual design

Content

why ppl visit a website. all digital information on a website including the presentation form - text, video, audio, and graphics

Customization

ability of a site to modify itself to or be modified by and for each individual user

Connection

network of linkages between a company’s website and other sites

communication

dialogue that unfolds between the website and its users. this should be interactive and individualized in real time like a personal conversation

Web communities

Websites that allow people to congregate online and exchange views on topics of common interest.

Commerce

website’s ability to conduct sales transactions for products and services

Online Consumer

The subsegment of all Internet users who employ this technology to research products and services and make purchases.

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 growing practice of not only customizing a product or service but also personalizing the marketing and overall shopping and buying interaction for each customer.

Viral Marketing

A digitally enabled promotion strategy that encourages individuals to forward marketer-initiated messages to others via e-mail, social networking websites, and blogs.

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 to direct 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 (social media)

subscription commerce

The payment of a fee to have products and services delivered on a recurring schedule

cross-channel consumer

An online 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 products online and then buying them in a store

Multichannel marketing

blending of different communication and delivery channels are mutually reinforcing in attracting, retaining, and building relationships with consumers who shop and buy in the traditional marketplace and the digital marketspace - the cross channel consumer

Cross channel consumer journey map

Image

Marketing Attribution

The practice and techniques used to credit or value a particular channel and consumer touchpoint.