MGT 6311 gatech Midterm Exam Graded
A 2024
Cluetrain Manifesto - A set of 95 theses organised as a call to action (CTA) for
businesses operating within a newly connected marketplace, 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 - 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) - 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) - The ratio of cost to profit.
Search engine optimisation
(SEO) - The practice that aims to improve a website's ranking for specific
keywords in the search engines.
Strategy - 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 - A specific action or method that contributes to achieving a goal
Porter's 5 Forces - Power of suppliers, power of customers, threat of new entrants,
threat of substitute products --> competitive rivalry within industry
5 P's of marketing mix - Product, price, place, promotion, people
SWOT - Strength, weakness, opportunities, threats
, What do objectives need to be? - SMART: specific, measurable, attainable,
realistic, time-bound
Attention economy - The idea that human attention is a scarce commodity i.e.
seeing attention as a limited resource.
Customer experience map - 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 - A detailed description of a fictional person to help a brand
visualise a segment of its target market.
Global citizen - A person who identifies as part of a world community and works
toward building the values and practices of that community
Tribe - A social group linked by a shared belief or interest.
Product - An item sold by a brand
Story - A narrative that incorporates the feelings and facts created by your brand,
intended to inspire an emotional reaction
Understanding motivation - 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 - Limited time specials and discounts, scarcity, loyalty
programmes, ancillary benefits, free content or downloads
Intrinsic motivators - Love, enjoyment and fun, self expression, personal values,
achievement or competence, negative intrinsic motivators (fear, embarrassment,
inertia)
Cognitive biases - personal prejudices and preferences, as well as common ways of
thinking that are inherently flawed
Pricing bias - More expensive better,will derive more psychological pleasure from
more expensive, even if cheaper is just as good
A 2024
Cluetrain Manifesto - A set of 95 theses organised as a call to action (CTA) for
businesses operating within a newly connected marketplace, 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 - 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) - 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) - The ratio of cost to profit.
Search engine optimisation
(SEO) - The practice that aims to improve a website's ranking for specific
keywords in the search engines.
Strategy - 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 - A specific action or method that contributes to achieving a goal
Porter's 5 Forces - Power of suppliers, power of customers, threat of new entrants,
threat of substitute products --> competitive rivalry within industry
5 P's of marketing mix - Product, price, place, promotion, people
SWOT - Strength, weakness, opportunities, threats
, What do objectives need to be? - SMART: specific, measurable, attainable,
realistic, time-bound
Attention economy - The idea that human attention is a scarce commodity i.e.
seeing attention as a limited resource.
Customer experience map - 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 - A detailed description of a fictional person to help a brand
visualise a segment of its target market.
Global citizen - A person who identifies as part of a world community and works
toward building the values and practices of that community
Tribe - A social group linked by a shared belief or interest.
Product - An item sold by a brand
Story - A narrative that incorporates the feelings and facts created by your brand,
intended to inspire an emotional reaction
Understanding motivation - 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 - Limited time specials and discounts, scarcity, loyalty
programmes, ancillary benefits, free content or downloads
Intrinsic motivators - Love, enjoyment and fun, self expression, personal values,
achievement or competence, negative intrinsic motivators (fear, embarrassment,
inertia)
Cognitive biases - personal prejudices and preferences, as well as common ways of
thinking that are inherently flawed
Pricing bias - More expensive better,will derive more psychological pleasure from
more expensive, even if cheaper is just as good
