Cluetrain Manifesto - ANSWER-A set of 95 theses organised as a call to action (CTA) for businesses operating within a newly connected marketplace,
... [Show More] published in 1999. While some of the book's claims have failed to materialise, it was an early source of guidelines for social media and obtained a cult-
like following
Market share - ANSWER-In strategic management and marketing, market share is the percentage or proportion of the total available market or market
segment that is being serviced by a company.
Pay per click (PPC) - ANSWER-Advertising where the advertiser pays only for each click on their advert, not for the opportunity for it to be seen or
displayed.
Return on investment
(ROI) - ANSWER-The ratio of cost to profit.
Search engine optimisation
(SEO) - ANSWER-The practice that aims to improve a website's ranking for specific keywords in the search engines.
Strategy - ANSWER-A set of ideas that outline how a product or brand will be positioned and achieve its objectives. This guides decisions on how to create,
distribute, promote and price the product or service. Looks at 4 pillars: environment, business, customers, competitors
Tactic - ANSWER-A specific action or method that contributes to achieving a goal
Porter's 5 Forces - ANSWER-Power of suppliers, power of customers, threat of new entrants, threat of substitute products --> competitive rivalry within industry
5 P's of marketing mix - ANSWER-Product, price, place, promotion, people
SWOT - ANSWER-Strength, weakness, opportunities, threats
What do objectives need to be? - ANSWER-SMART: specific, measurable, attainable, realistic, time-bound
Attention economy - ANSWER-The idea that human attention is a scarce commodity i.e. seeing attention as a limited resource.
Customer experience map - ANSWER-A visual representation of the customers' flow from beginning to end of the purchase experience, including their needs, wants,
expectations and overall experience.
Customer persona - ANSWER-A detailed description of a fictional person to help a brand visualise a segment of its target market.
Global citizen - ANSWER-A person who identifies as part of a world community and works toward building the values and practices of that community
Tribe - ANSWER-A social group linked by a shared belief or interest.
Product - ANSWER-An item sold by a brand
Story - ANSWER-A narrative that incorporates the feelings and facts created by your brand, intended to inspire an emotional reaction
Understanding motivation - ANSWER-positive, intrinsic: I want to do this to feel good
negative, intrinsic: I need to do this or I'll feel bad
positive, extrinsic: If I do this, I'll get a reward
negative, extrinsic: If I don't do this, I'll face a penalty
Extrinsic motivators - ANSWER-Limited time specials and discounts, scarcity, loyalty programmes, ancillary benefits, free content or downloads
Intrinsic motivators - ANSWER-Love, enjoyment and fun, self expression, personal values, achievement or competence, negative intrinsic motivators (fear, embarrassment, inertia)
Cognitive biases - ANSWER-personal prejudices and preferences, as well as common ways of thinking that are inherently flawed
Pricing bias - ANSWER-More expensive better,will derive more psychological pleasure from more expensive, even if cheaper is just as good
Heuristics - ANSWER-Decision making shortcut or mental model that helps us make sense of difficult decision making process or estimate answer to complex problem (availability, representativeness, price-quality, anchoring and adjustment
Choice - ANSWER-Word of mouth/peer suggestions, personal preferences and history, habits, decision load
Defaults - ANSWER-Removes the need to make an active decision - offer path of least resistance, serve as social signal, offer assurance, take advantage of loss aversion
Choice architecture - ANSWER-Small number of choices, ideally 3, less than 5
A recommend or default
Visual design hierarchy
Business intelligence/
insights - ANSWER-Data that can help businesses understand the factors influencing their success and how these can be used to benefit them.
Connected customer - ANSWER-Consumers are increasingly connected, using ever-growing numbers of Internet-enabled devices. These offer opportunities for
data collection.
Current indicators - ANSWER-Information from the present time that can help businesses to understand their customer and themselves.
Customer intelligence - ANSWER-The process of gathering and analysing information about customers to improve customer relationships and allow for more
strategic business decisions.
Data intelligence - ANSWER-The process of gathering and analysing data from all available sources to improve customer relationships and make more
strategic business decisions.
Disruption - ANSWER-When a disruptive innovation changes the market and displaces established players.
Dynamic data - ANSWER-Data that is constantly updated and evaluated to provide a dynamic, changing view of the customer.
Future/leading indicators - ANSWER-Information that can help a brand to make decisions about the future.
Goals - ANSWER-Specific actions taken by a user, or specific user behaviour.
Internet of things - ANSWER-The interconnection of everyday objects to the Internet via embedded computing devices, giving them the ability to send and
receive data.
Key performance
indicators (KPI - ANSWER-The metrics that are examined to determine the success of a campaign.
Lagging indicators - ANSWER-Older data that gives information on how a brand performed in the past.
Net promoter score (NPS) - ANSWER-The KPI used to measure customer loyalty.
Segmentation - ANSWER-The process of breaking an overall audience or target market into smaller groups based on specific commonalities for more accurate
targeting.
Single view of customer - ANSWER-Single view of customer is achieved when all customer information is available in a single central location.
SMART objectives - ANSWER-A marketing objective that is specific, measurable, attainable, relevant and time bound.
Target - ANSWER-The specific value that a marketer wants a metric to achieve.
Data relevant to brands - ANSWER-Algorithmic intelligence, business intelligence, customer intelligence, software intelligence
Sources of data - ANSWER-Online data, databases, software data, app store data, offline data
Bounce rate - ANSWER-The number of people who view one page and then leave a website without viewing any other pages. Data statistics and facts collected
for analysis
Data sentiment analysis - ANSWER-The systematic analysis of subjective materials, such as survey responses or social media posts, in order to determine the attitude
and intended emotional communication of the customer.
Focus group - ANSWER-A form of qualitative research where people are asked questions in an interactive group setting. From a marketing perspective, it is an important tool for acquiring feedback on new products and various
topics
Hypothesis - ANSWER-A supposition that is tested in relation to known facts; a proposition based on reason but not necessarily assumed to be true.
Listening lab - ANSWER-A testing environment where the researcher observes how a customer uses a website or product.
Observation/ online
ethnography - ANSWER-When researchers immerse themselves in a particular environment in order to gather insights.
Primary research - ANSWER-The collection of data to present a new set of findings from original research [Show Less]