Exam (elaborations)
Final exam cheat sheet
- Course
- MKTG-1310
- Institution
- University Of Windsor (U Of W )
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Value: Regard that something is held to deserve; importance, worth/usefulness of something. Economic value ismeasure of benefit provided by good/service to an economic agent & value for money represents an assessment of
whether financial/other resources are being used effectively in order to secure such benefit. Value created: product,
appropriated (or captured): price, delivered: place & communicated: promotion. Perceptual map: Diagram used for
visualizing consumer perception of different brands/products. Standard perceptual positioning map is presented on
2-axis scatter chart where each axis represents relevant industry attribute. Correlation: Statistical measure that
expresses the extent to which 2 variables are linearly related (meaning they change together at constant rate),
common tool for describing simple relationships without making statement about cause & effect, correlation does
not imply cause-effect but cause-effect relationship must have correlation. Markup: Difference between selling price
of good/service & its cost, often expressed as percentage over cost, added into total cost incurred by the producer of
good/service in order to cover costs of doing business & create profit. Bases of power: Legitimate – position in
hierarchy, expert – having expertise in an area, referant – interpersonal relationships, coercive – ability to influence
through threats & rewards – ability to offer & influence incentives. IMC metrics: Sales objective – Profitability,
average revenue per customer, new customer acquisition, customer retention, total and incremental sales, number of
customers & registrations, lead generation objective – number of qualified leads, cost per lead & traffic source
breakdown, build brand objective - share of voice, brand awareness, equity, evaluation & community membership &
foster dialogue objective – audience engagement, share of voice & conversion reach. Digital marketing:
Encompasses all marketing efforts that use digital channels/tech including online & offline methods, channels
include digital ads, email marketing, search engine optimization (SEO), content marketing, mobile apps & even
radio/TV ads & goal is reach customers through various digital touchpoints whether they are connected to the
internet/not. Online marketing: Subset of digital marketing that strictly involves internet as platform, includes tactics
like SEO, pay-per-click (PPC) ads, content marketing, email campaigns & affiliate marketing & goal is drive traffic,
conversions & engagement through web-based channels specifically. Social media marketing: Specialized form of
online marketing focuses solely on social media platforms like Facebook, Instagram, Twitter, LinkedIn, etc, involves
creating content, engaging w/ followers & running ads on social media to increase brand awareness & foster
community, goal is build brand’s social presence, increase engagement & drive traffic/conversions through social
interactions. Website traffic metrics: Total visits Measures number of people visiting website, unique visitors - tracks
individual visitors excluding repeat visits, page views – counts total number of pages viewed on site, bounce rate -
percentage of visitors who leave after viewing one page, average session duration - time visitors spend on site per
session & pages per session - average number of pages viewed during session. Engagement metrics: Click-through
rate (CTR) - percentage of clicks on link/ad relative to its impressions, engagement rate - interactions (likes, shares,
comments) relative to followers/reach, social shares - counts how often content is shared on social media,
conversion rate - percentage of visitors who complete desired action (sign-up, purchase) and cost per engagement
(CPE) - cost for each user interaction w/ ad/content. Lead generation metrics: Cost per lead (CPL) - average cost
incurred to acquire lead, lead-to-customer conversion rate - percentage of leads converted to customers and qualified
leads - number of leads who match target customer profile. Sales & revenue metrics: Return on ad spend (ROAS) -
revenue generated per dollar spent on advertising, customer acquisition cost (CAC) - cost to acquire new customer,
customer lifetime value (CLTV) - projected revenue from customer over their lifetime, sales conversion rate -
percentage of users/leads that convert into paying customers and average order value (AOV) - average revenue per
order. Search engine optimization (SEO) metrics: Organic traffic - traffic from unpaid search results, keyword
rankings - position of targeted keywords in search engine results, backlinks - number of other websites linking back
to your site, domain authority (DA) - metric that indicates website’s strength in search engines and cost per click
(CPC) for pay per click (PPC) - cost incurred for each click in paid search campaigns. Content performance metrics:
Time on page - Average time spent on specific page, scroll depth - measures how far users scroll down page, top
landing pages - pages that attract most traffic, exit rate - percentage of people leaving from specific page and churn
rate - percentage of customers lost over period. Customer retention metrics: Churn rate - percentage of customers
lost over period, repeat purchase rate - rate at which customers return for additional purchases and net promoter
score (NPS) - measures customer loyalty & satisfaction. Ad performance metrics: Impressions - Number of times an
ad is shown, reach - number of unique people who see ad, frequency - average number of times user sees ad and ad
relevance score – score indicating how well ad resonates with audience. Enron 2001: Violations – Securities fraud &
obstruction of justice & outcome – Sarbanes-Oxley act (2002) was enacted to improve corporate governance &
financial transparency. Exxon oil spill (1989): Violations – Environmental laws including clean water act & outcome
– increased focus on corporate responsibility & stricter environmental regulations. Volkswagen (2015): Violations –
Clean air act & consumer protection laws & outcome – billions in fines & recalls & emphasis on greenwashing
consequences. Wells Fargo (2016): Violations – Consumer financial protection act & fraudulent practices and
outcome – fines & loss of consumer trust & increased scrutiny on corporate sales practices. Cambridge analytica
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