How does a loyal brand community support the positioning and branding of a small business? Provide an example to support your explanation
What will be an ideal response?
Student answers will vary. Creating a vibrant brand community among current and prospective customers can be a cost-effective way to reinforce loyalty and help spread the word to new prospects. Web browser Mozilla Firefox is able to compete with Microsoft's Internet Explorer in part because of its dedicated volunteer group of 10,000 programmers who work on its open source coding. Twelve fans of the brand felt so strongly about it they used two-by-fours and rope to hollow out a 30,000-square-foot impression of the brand's logo in an oat field outside Salem, Oregon!
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Amounts needed for the preparation of the budgeted balance sheet are taken from various operating and financial budgets
Indicate whether the statement is true or false
Which of the following is a component of a firm's microenvironment?
A) customer demographics B) economic recessions C) population shifts D) marketing intermediaries E) technological changes