FourSquares Labs Inc

question 7

Essay

FourSquares Labs Inc. is a company in the forefront of the mobile advertising by integrating social media with marketing. "Foursquare" itself is a game for the mobile phone that provides players incentives to check it at restaurants, bars, and retailers-broadcasting the location
of players to friends and potential advertisers.
1. What does this example illustrate about new technologies?
2. Why do managers need to know about new technologies?

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Definitions:

Market Definition

The process of characterizing the boundaries of a market, including potential customers and competing products, to understand its dynamics and size.

Effective

Having the intended or expected outcome; the ability to achieve specific goals or results.

Fixed

Costs or expenses that do not change with the level of goods or services produced within a certain time period.

Share Building

The process of increasing a company's market share through strategies like marketing, sales promotion, and product innovation.