What is consumer-generated content? Provide an example
What will be an ideal response?
(Students' answers may vary. The answer given below is indicative.)
Taking advantage of today's digital and social media technologies, many companies are now tapping consumers for marketing content, message ideas, or even actual ads and videos. Sometimes the results are outstanding; sometimes they are forgettable. If done well, however, user-generated content can incorporate the voice of the customer into brand messages and generate greater customer engagement. Perhaps the best known consumer-generated content effort is the long-running annual "Crash the Super Bowl Challenge" held annually by PepsiCo's Doritos brand. Doritos invites consumers to create their own 30-second video ads, and winners receive large cash awards and have their ads run during the Super Bowl. But brands across a wide range of industries — from automakers and fast-food chains to apparel brands and pet food marketers — are inviting customers to participate in generating marketing content.
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Competitors are most likely to react to a price change, when ________
A) the firm has a weak value proposition B) the firm enjoys a monopoly C) there are few competing firms D) the product is heterogeneous E) buyers have limited information
Sales messages typically require persuasion to influence and motivate the audience
Indicate whether the statement is true or false.