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I will advertise on both Social media and electronic media to create demand for
product
Viral marketing is a business strategy that uses existing social networks to promote a
product. Its name refers to how consumers spread information about a product with other
people in their social networks, much in the same way that a virus spreads from one
person to another.
Viral marketing typically supplies its audience with something of value for free. This can
be something as simple as an amusing song or game. Whatever the viral content is, it
must encourage people to share with others so as many people as possible receive the
content's message.
Q-8 How can a small company use Google AdWords for market research?
Google keep track for its customers and from this tracking data we can analyze the
customer trends , what are the liking and what are disliking. This market research will be
based upon the number of click per add.
Q-9 What factors determine whether the business would offer discounts?
1. Environmental Factors
2. Customer Liking and disliking
3. Marketing Strategy
9. What are the three pricing objectives? Give an example of an industry that
would use each.
A. Revenue oriented – Restaurants / Moving Companies / Clothing Stores
B. Operations oriented - Hotels / Airlines / Moving Theatres
C. Patronage oriented – Grand opening / closing businesses
10. You own a cafe in a large urban area that carries a total of $500,000 per year
in fixed costs. Your cafe sells only coffee for $2.50 per cup. The average
variable cost per cup (coffee mix, cup costs, etc.) is $1. How many cups do you
need to sell per day to break even? If the price of the coffee decreased by 10
percent for a special promotion (with all other costs staying the same), how
many cups would you need to sell to break even?