Chapter 3 notes Flashcards
(20 cards)
What is the 7C Framework of Digital Retailing?
A framework that helps retailers design a strong digital strategy focusing on:
* Core Goals
* Context
* Content
* Communication
* Community
* Commerce
* Connection
Each component addresses different aspects of engaging customers online.
What are Core Goals in digital retailing?
Clear objectives set by retailers, such as driving purchases, sharing product info, or enhancing loyalty.
Example: H&M includes product sustainability info and offers features like size finders.
What does Context refer to in the 7C Framework?
The overall design of the digital platform, including layout, color, font, and structure.
Example: Walmart and Amazon use simplified layouts for fast shopping.
Define Content in the context of digital retailing.
The text, images, video, and audio on a site that should be up-to-date, relevant, and educational.
Example: A retailer might use a ‘FAQ’ or ‘how to use’ video to support sales.
What is the role of Communication in digital retailing?
Enables two-way interactions with consumers through channels like chatbots and social media.
Example: Domino’s Pizza uses Facebook Messenger to confirm and track orders.
How does Community play a role in digital retailing?
Builds engagement by encouraging customers to comment, share, and review.
Example: Gymshark created a fitness-focused online community around its brand.
What does Commerce refer to in the 7C Framework?
The e-commerce functionality including payment systems, cart, coupons, and fast checkout.
Example: Retailers like The Mountain offer discount codes at checkout to increase urgency.
What is Connection in the context of digital retailing?
Using digital tools to build a sense of emotional or personal connection with consumers.
Example: The Artful Jordan site shows artist interviews and product origin stories.
What are some key aspects of mobile retailing?
Must support quick browsing, selecting, and purchasing through mobile-friendly websites and apps.
Example: Express mobile site allows shoppers to swipe through product angles.
What is the significance of location-based technologies in mobile retailing?
Enable push notifications for promotions based on shopper location, enhancing customer engagement.
Example: Sephora sends alerts when users are near stores.
List the social media platforms commonly used in retailing.
- YouTube
- TikTok
Each platform supports content, community building, and direct-to-purchase options.
What is Paid Media?
Media the retailer pays for, such as advertisements on social media and search engines.
Examples include Google Ads and Facebook Ads.
Define Owned Media.
Media channels fully controlled by the retailer, including websites, blogs, and social pages.
Key advantage is full control of brand message.
What is Earned Media?
Media generated by others, such as customer reviews and shares, which is highly credible and trusted.
Examples include Yelp and TripAdvisor.
What is influencer marketing?
A paid media strategy using well-known individuals to deliver messages to a targeted audience.
Influencers can be celebrities or everyday consumers with large followings.
What does the term ‘Relevance’ refer to in influencer marketing?
How well the influencer aligns with the brand and the target audience.
Example: Cristiano Ronaldo for sportswear promotions.
What is the formula for calculating Return on Investment (ROI) in influencer marketing?
ROI = (Revenue from campaign − Cost of campaign) / Cost.
Important for evaluating profitability of influencer marketing.
What is the Listen-Analyze-Do framework?
A framework used by retailers to engage customers throughout the digital retailing process.
Involves collecting feedback, analyzing data, and taking strategic actions.
What does the ‘Analyze’ step in the framework entail?
Using tools to analyze site traffic, product interest, and conversion rates to understand customer behavior.
Tools like Google Analytics are commonly used.
What are the steps to execute a digital retailing campaign?
- Identify strategy and goals
- Identify target audience
- Develop the budget
- Develop the campaign
- Monitor and change
Each step is crucial for a successful campaign.
