Why are marketers particularly concerned about word of mouth?
What will be an ideal response?
Marketers have very little control over word of mouth, or communication between consumers about a brand, but word of mouth is highly influential because friends, relatives, neighbors, and colleagues are seen as more credible sources of information than company-controlled sources.
You might also like to view...
Which of the following strategies is most likely to ensure profitability on a contract undertaken by a price-taker provider?
a. Full-cost pricing b. Marginal-cost pricing c. Target costing d. Zero-cost pricing e. Direct-cost pricing
In target pricing, the target sales price is the ________
A) total product cost incurred in producing a product B) net profit desired by the company C) amount customers are willing to pay for a product or service D) price calculated by deducting the desired profit from the total production cost