Tuesday, June 15, 2010

Karen's Coins - iTunes Optimization, The Sixth Force and Other Phrases for Thought

Here Are Some Phrases, Terms and Concepts I've Created and Coined. I hope they give you food for thought:

iTunes Optimization (aka iTO) - The art and science of marketing an iPhone application via the iPhone application store - and within the mobile ecosystem in general. The ultimate goal is to get the application as high as possible on the list of relevant and/or recommended applications. This involves paid mobile advertising, cross-promotion and other tools, as yet unmastered.

Alternatively Application Store Marketing and Application Store Optimization (ASM and ASO)

The Sixth Force - Refers to the importance of "complements" in evaluating the strategic position and approach of a company or organization. The sixth force supplements Porter's existing five forces: Suppliers, Customers, Competitors, Potential New Entrants, Substitutes. When I was a brand manager for RAGU Pizza Sauce, the introduction and declining popularity of Boboli pizza crust turned out to be the most important element in explaining the rise and fall of pizza sauce consumption over a three-year period.

Segmented Media Pricing - Print publishers need to start looking at their business in a new way. Rather than maintaining the print versions of their magazine and newspaper publications as they are, and then deciding what form of walled garden, paid, metered, micropayment and/or freemium model to implement online, they need to unbundle and redesign what they offer - which is news and information, not a printed magazine or electronic replication with enhancements.

(Formerly called Disaggregation Correlations Optimization)

Social Mediaphobe - A marketer, manager or executive who is afraid to expose his brand to the masses - to what the massess might say - in a social forum. He is afraid that consumers might disparage the brand or say something inappropriate - and that, and this is the most common fear - he will be responsible because he sponsored, created, condoned, enabled, facilitated, hosted or participated in the forum. He is afraid of having his feelings hurt or his wrists slapped.

Hold the hands of these Social Media-phobes as they look down upon the icy ski slope. Tell them they can do it. They can conquer the mountain. Tell them not to lean back. Not to look back. That will only cause them to fall. Let them know that they can enjoy the ride. The journey. And that it can be exhilarating and even, well, social.

Beer Diplomacy - The use of beer by the president of the United States to patch up an awkward race-relations situation.

Eccentrepeneur - Simply put, an eccentric entrepreneur. You'll know one when you see one.

Mistweeting - I did not personally coin this and give credit to Michael Herz at NYSSA. This refers to the act of stating or implying that you are doing something or located somewhere and then contradicting that with Twitter updates.
Example:
Spoken Word -- "I will be out of town all summer."
Tweet -- "Just had dinner at a great restaurant in the West Village!"
Oops!

Coffaholic - Someone who loves, loves, loves coffee [you know who you are] and everything that comes with it. Someone who will sit in a Starbucks just to soak in the aroma. Someone who buys every variety of those traveling coffee mugs she can find - even though she really needs no more than one.

By the way, does anyone remember thermoses - with the screw on lids and a cup on top of that? Do those still exist? The ones where you could add a little something to your warm beverage to make the football game a little more entertaining.

Reconnaissance Shopping - A quick walk through a retail establishment such as Loehmann's to keep tabs on the types of merchandise they carry should a specific need arise. For example, recent reconnaissance made me aware of an abundance of very cute low-heeled boots, but I was not in the market for these. However, upon hearing from my doctor that I should stop wearing high heels, I was able to complete a quick, efficient shopping expedition on my way home from her office. Reconnaissance shopping is not the same as window shopping, which is more recreational and leisurely.

Neiphews - Kind of a cop out. Looking for a word that encompasses both nieces and nephews as in, "I have four niephews - three nephews and one niece."

Frolleague - A colleague you would friend (or have friended) on Facebook.

Ovation Inflation - The somewhat recent practice here in NYC of giving a standing ovation to any performance that costs enough that the audience feels they must justify their expenditure by categorizing the performance as one that calls for a standing ovation. Personally, I save my ovations for occasions in which I am so moved, impressed or rendered speechless that I rise to my feet without even knowing it.

The Fourth Dimension - Of course, this term is not new; however, I would assert that via time shifting technology, we have indeed reached the fourth dimension. Deep.

(As it turns out I learned during a dinner with one of the Hadron Collider experimental physicists that digital video recorders and podcasts have not given us access to the fourth dimension. Evidentally, the fourth dimension derives from the Space x Time = Distance equation. Ah, well.)

Foursquenvy - Feeling bad because someone has checked-in somewhere you wish you could be

2 comments:

Edwin said...

As with yin and yang, the Social Mediaphobe does not exist without the Social Media Narcissist. A marketer, manager or executive who is too confident, and seeking too much exposure to the masses. The virtual social equivalent of the person at the bar who adopted the core belief that there cannot be anyhting more interesting than himself. As with the Social Mediaphobes, should hold their hands too as they look down upon the icy ski slope. Should also tell them it is possible to do it, that talk only is cheap. They too can conquer the mountain, enjoy it and even make it a social journey.

Edwin said...

Social enterprise - at a panel discussion yesterday about philantropic investing someone explained the concept of social enterprise with a very clear example: fighting hunger is not about giving someone a fish, neither is it about teaching someone how to fish, it is about changing the fishing industry