The Internet Has Radically Changed the Way Traditional Marketing Used

question 68

Multiple Choice

The Internet has radically changed the way traditional marketing used the marketing mix to attract and retain customers. Now e-marketing strategies require the marketer to reexamine the characteristics of the four components of the marketing mix. With respect to e-marketing, which of the following statements about the four components of the marketing mix is true?

• A) The Internet is not a new distribution channel.
• B) Price is the least flexible component of the marketing mix.
• C) Distribution is the best application for digital media.
• D) Digital media marketing only facilitates price competition.
• E) Most traditional promotions can be enhanced by using digital media.

Understand the concept and importance of financial viability within a business model.

Learn the significance of addressing unmet customer needs and its impact on business success.

Realize the importance of innovation and differentiation in achieving competitive advantage.

Grasp the concept of multi-sided markets and how businesses serve interconnected customer segments.

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Definitions:

Socio-Cultural Changes

Alterations in societal values, norms, and practices due to factors like technological advancements, economic shifts, and cultural exchanges.

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale, leading to increased interconnectedness and interdependence among global entities.

Worldwide Exchange

The global trading of goods, services, and financial assets among countries, influenced by international agreements and economic policies.

Western Bias

The inclination to favor Western or Eurocentric perspectives, often at the expense of ignoring or undervaluing other viewpoints.