When Scentsation Introduced a New Air Freshener,the Company Sent Emails

question 63

Essay

When Scentsation introduced a new air freshener,the company sent emails to people asking for referrals.People referring five friends to the company's promotional website received free merchandise and were entered into a sweepstakes to win a year's supply of the product.Explain what this technique is and why marketers use it.

Understand the concept of market equilibrium and how prices adjust to equilibrate supply and demand.

Analyze the effects of external factors on market prices and quantities.

Understand the principles of personal finance and investment strategy.

Grasp the basics of supply, demand, and price elasticity.

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Definitions:

Outsourcing Expenses

Costs associated with contracting external organizations to perform certain business functions or processes outside the company.

Health Benefits

refer to the positive effects or outcomes on physical, mental, or social well-being that can result from activities, practices, or policies, such as exercise, healthy eating, or healthcare provision.

Triple Bottom Line

A sustainability framework that evaluates a company's performance based on three critical areas: social responsibility, environmental impact, and financial profitability.

Prosperity

The state of flourishing, success, or good fortune, encompassing wealth, happiness, and well-being among individuals or communities.