Marketing 305 Final Exam Study Guide Chapter 16 Social media value for users o Represents a unique blending of technology and social interaction to create personal o Online media where users submit comments photos and videos often accompanied by a feedback process to identify popular topics o A webpage that serves as a publicly accessible personal journal and online forum for Blog an individual or an organization Classification criteria for social media o Media richness Involves the degree of acoustic visual and personal contact between two communication partners face to face communication is higher in media richness than telephone or email The higher the media richness and quality of presentation the greater the social influence that communication partners have on each other s behavior o Self disclosure Greater self disclosure is likely to increase one s influence on those reached Compare and contrast social and traditional media o Ability to reach large and niche audiences Both kinds of media can be designed to reach either a mass market or specialized segments Good execution is critical and audience size is not guaranteed o Expense and access TM Messages and ads in traditional media like newspapers or television generally are expensive to produce and have restricted access by individuals TM Traditional media is typically privately owned or owned by the government SM In contrast messages on social media networks are generally accessible everywhere to those with smartphones computers and tablet devices and can be produced cheaply TM Traditional media usually requires specialized skills and training and often involves teams of people SM Sending messages on social media requires only limited skills so almost everyone can post a message that includes words and images o Training and number of people involved o Time to delivery TM Traditional media can involve days or even months of continuing effort to deliver the communication and excess time can be expensive SM individuals using social media can post virtually instantaneous content o Permanence o Credibility and social authority TM Traditional media once created cannot be altered ex once a magazine is printed and distributed it cannot be changed SM Social media can be altered almost instantaneously by comments or editing TM Individuals and organizations can establish themselves as experts in their given fields thereby becoming and influencer in that field ex the NY Times has immense credibility among newspaper media SM A sender often simply begins to participate in the conversation hoping that the quality of the message will establish credibility with the receivers thereby enhancing the sender s influence The characteristics of an effective FB page for a business lecture Visually rich without over clutter Make it familiar but with a twist Dynamic interactive Creative fresh Great relationship marketing tool creates community Let users get engaged and guide content Great way to collect as well as to share information Always up to date quick response o The characteristics of good Twitter usage for a business lecture o Keep it short simple o Keep it important o Watch frequency o Promote the community business partners and your business The factors a business should consider when if they use You Tube to create awareness lecture o Do not use it for commercials unless you are very clever o Use it to promote the community with your blurb attached o Use it to educate but consider it is impersonal o Be very careful with humor The optimal use of LinkedIn for a business lecture o It is good business or owner resume o It is a good place for LOTS of content o It doesn t have to be updated as often o You can say good things here that you can t really say elsewhere Social responsibility community partners The guidelines to engage fans on Facebook o Make it familiar but with a twist o Keep it fresh o Let users get engaged and guide content Figure 16 3 How brand managers can use four social networks in developing their marketing strategies o Facebook promote business and awareness for their product service or brand within Facebook Info is generally public so anyone can find it o Twitter can t expect extensive comments but can write a quick blurb to get their brand product or service out into the world on an official twitter business page o LinkedIn Business to business B2B networking with industry related groups Brand managers can also use it go find sales leads and vendors and to organize focus groups o YouTube use a video to produce and show a video that explains the benefits of a complex product Performance measures linked to outputs or revenues of social media o Fans the number of people who have opted into a brand s messages through a o Share of voice the brand s share or percentage of all the online social media chatter social media platform at a given time related to say its product or a topic o Page views the number of times a Facebook page is loaded in a given time period o Visitors The total number of visitors to a Facebook page in a given time period if someone visits three times in one day she is counted three times o Unique visitors The total number of visitors to a Facebook page in a given time period if someone visits three times in one day he is counted only once o Average page views per visitor page views is divided by visitors in a given time period comment and so on page to visit a specific site o Interaction rate The number of people who interact with a post like make a o Click through rate CTR Percentage of recipients who have clicked on a link on the o Fan source where a social network following comes from with fans coming from a friend being more valuable that those coming from an ad Chapter 17 Personal selling involves the two way flow of communication between a buyer and seller often in a face to face encounter designed to influence a person s or group s purchase decision Sales management involved planning the selling program and implementing and evaluating the personal selling effort of the firm Relationship selling the practice of building ties to customers based on a salesperson s attention and commitment to customer needs over time Order taker processes routine orders or reorders for products that were already sold by the company The primary responsibility of the order taker is to preserve an ongoing relationship with existing customers and maintain sales Order getter sells in a conventional sense and identifies