Briefly discuss how companies are adapting to the paradigm shift of the wired world
What will be an ideal response?
Companies promote their products in innovative and interesting ways while becoming part of their target markets' lives. In the attention economy, share of mind rather than share of market takes on greater importance. Product Web sites offer entertainment and high-value information that keep the consumer coming back to the site and continuing to buy the product. Companies have to do more to differentiate their products from the competition and to connect on a more personal level with potential customers.
You might also like to view...
With respect to assessing customer value, in conjoint analysis customers are asked to rank their preference for alternative market offerings or concepts
Indicate whether the statement is true or false
_______ is the application of disciplined tactics that predict customer behavior at the micromarket level and that optimize product availability and price to maximize revenue growth
It is applicable to market offerings that include perishable products and opportunities, and markets featuring seasonal or periodic demand. a. Revenue management b. IMC planning c. Situation analysis d. Value cycle