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Scenario 19-2 Many Marketers Define Their Social Media Strategies Around Six Core

question 43

Multiple Choice

Scenario 19-2
Many marketers define their social media strategies around six core concepts: (1) listening, learning, responding, and repeating; (2) building relationships and trust; (3) promoting products and services; (4) managing your reputation; (5) improving customer service; (6) championing those who champion you. Marketers should also keep in mind that, more and more, customers expect companies to use social media. According to a recent survey, more than half of all consumers want ongoing conversations with companies and brands-and of consumers who use social media themselves, a whopping 85 percent believe that companies should have an active social media presence. Marketers who embrace such consumers can harness the power of social media and ultimately improve profits and brand loyalty.
-Refer to the scenario. A popular software manufacturer operates an online forum where consumers can ask one another questions about how to use products and receive answers from other users. Although to some extent this forum helps the manufacturer achieve all of its social media objectives, what objective is this "self-help" forum most geared toward?

Identify the most critical step in the new product development process and justify why.

Understand the dynamics of competitive responses in product marketing and development.

Explain the concept of "new-to-the-world" products and their impact on markets and consumer behavior.

Recognize the importance and implications of outsourcing product development.

Definitions:

Value Types

The different categories or kinds of values that people hold, which influence their attitudes, behaviors, and perceptions of the world.

Universal

Applicable everywhere or in all cases; general in nature.

Cultures

The sum of attitudes, customs, and beliefs that distinguishes one group of people from another, transmitted through languages, material objects, ritual, institutions, and art.

Culture

Represents the shared values, beliefs, behaviors, and artifacts that characterize a group of people or society.