BUS 448 Study Guide - Quiz Guide: Mary Kay Ash, Chanel No. 5, Brand Loyalty
10 Apr 2020
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Many companies establish fb/twitter pages but few companies understand how social media drives product and brand recognition, sales, and engenders loyalty. Hard to see where firm should jump in, influence conversations. The means of interactions among people in which they create, share, and/or exchange ideas . Pt barnum"s clowns; marilyn monroe and chanel no. Bill cosby good for jell-o but not for e. f. hutton and ti. More consumers who use product, the more are likely to jump on the bandwagon. Salesforce with free samples and cookbooks (1900+) Mary kay ash and network selling (1960s) 1. 4m influencers selling . 4b of cosmetics each year. The means of interactions among people in which they create, share, and/or exchange ideas in virtual communities and networks . Few consumers watch commercials, listen to radio, etc. Presence of dvr"s and rise of commercial free cable-tv (hbo) Data storage costs and computing costs decreasing. Use algorithms to improve efficiency of marketing communications.
