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5 Cards in this Set

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Define social media and describe how they differ from traditional advertising media

Social media are online media where users submit comments, photos, and videos, often accompanied by a feedback process to identify "popular" topics. Social media can be classified based on two factors 1. media richness, which involves the degree of acoustic, visual, and personal contact between the social network and the user. 2. Self-disclosure which is the degree to which the individuals can control the impressions they want to make on others.

Social media differ from traditional advertising media (tv, newspapers, magazines, radio) in that user-generated content 1. is relatively inexpensive to create, publish, and access 2. requires little training to develop 3. can deliver virtually instantaneous responses 4. can quickly alter and repost 5. may not be as price and anonymous as users expect

Identify the four major social networks and how brand managers integrate them into marketing actions

the four major social networks are Facebook, twitter, linked in, and youtube. Facebook is a social network where users create a personal profile, add other users as "friends" and exchange photos, comments, videos and likes with them. to increase traddic to a Facebook page, brand managers can use paid ads and sponsored stories.

Twitter enables users to send and receive tweets up to 140 characters long. For twitter, brand managers can use monitoring programs to track what people are saying about their brand

Linkedin lets users post their personal profiles to a network of business-people. Linkedin can be used to create a company profile to share brand info and career opportunities with linked in users and to demonstrate the company's expertise and professionalism.

Youtube is a video-sharing website where users can upload, view, and comment on videos. YouTube also allows marketers to create a brand channel to promote a product, show ads for it, and have viewers comment on it. A company can use Youtube to inform consumers about itself and direct traffic by featuring a link back to its website

Describe the differing roles of those receiving messages through traditional vs social media and how brand managers select a social network

With promotional messages received through traditional media, recipients are generally "passive receivers" and the communication ends with them. In contrast, recipients of social media messages are "active receivers" and the company sending them messages hope they will become "evangelists" and send positive messages back to the company and to online friends.

The factors a marketer uses to select a specific social network involve assessing 1. the number of registered users and unique visitors to the company's website 2. the characteristics (or profiles) of those visitors and 3. the focus of the social network

Of the four major social networks, Facebook has the largest number of daily visitors, followed by youtube, twitter and linked in. each of these has a unique user profile that allows marketers to develop marketing programs to reach specific target segments. Also, because each social network has a unique focus (videos, short text messaging, and so on) marketers can modify their marketing programs to take advantages of these differences

Explain how social media can produce sales revenues for a brand and compare the performance measures linked to costs vs revenues

Measuring the sales generated from social media is more difficult than with traditional media because in many cases there is no direct link between a social network user and a sale. Brand managers can use social media platforms to send messages or paid advertisements to the brand's audience that include links to the special promotions, coupon codes, or specific products in an online store. By tracking the performance of these links, the brand manager can identify the ones that produce sales revenues. Performance measures linked to inputs and costs include: 1. cost per thousand, CPM which is the number of times an ad is displayed to the user 2. cost per click- which gives the rate the advertiser pays each times a visitor clicks on the ad and then jumps to the advertisers web page and 3. cost per action, which is the amount paid for every purchase that originates from an ad on a social media site

Examples of performance measures linked to outputs or revenues include:

1. users/members that have registered on social media websites

2. the number of unique monthly users viewing the website at a given time

3. page views, or the number of times a specific web page is loaded

4. visitors, or the total number of users viewing a particular page during a specific time

Describe how the convergence of the real and digital worlds affects the future of social media

the convergence of the real and digital worlds in social networking is the result of the proliferation of interlinked smartphones, tablet devices, sensors, RFIDs, databases, algorithms, apps, and other elements. Apps are small, downloadable software programs that run on smartphones and tablet devices to add functionality to these devices

in the future, there will be 1. new ways to personalize social media connections 2. an increased focus on socially networked communities 3. an increased emphasis on measuring and marketing ROI for social media initiatives 4. the use of devices equipped with near field communications technology that allows consumers and marketers to exchange personal and product related info with each other. the convergence of social media, smartphones, tablet devices, and new apps will lead to companies have a more dynamic interaction with their customers. For consumers, however, this could lead to a loss of privacy and possible exploitation by unscrupulous marketers