Match each social media marketing action with the appropriate step of the new-product development process.Terms:New-product strategy development Product development Business analysis Idea screening Test marketing Product launch Idea generation Determining that smartphone apps and social media are important parts of the bank’s future plans to reach young consumers Tweeting out the availability of a new smartphone app that helps young professionals manage their financial lives better Inviting younger “fans” of the bank’s social media sites to have a free trial of the new smartphone app Having a Facebook discussion with consumers on what they would ideally like to have from a bank smartphone app Creating a prototype of the smartphone app Using Twitter to ask followers what prices they are willing to pay for smartphone apps Developing a social media site that allows college consumers to review and provide feedback on new product ideas

New product strategy development: Determining that smartphone apps and social media are important…

Answered: Match each social media marketing…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Match each social media marketing action with the appropriate step of the new-product development process.

Terms:

New-product strategy development
Product development
Business analysis
Idea screening
Test marketing
Product launch
Idea generation

Determining that smartphone apps and social media are important parts of the bank’s future plans to reach young consumers
Tweeting out the availability of a new smartphone app that helps young professionals manage their financial lives better
Inviting younger “fans” of the bank’s social media sites to have a free trial of the new smartphone app
Having a Facebook discussion with consumers on what they would ideally like to have from a bank smartphone app
Creating a prototype of the smartphone app
Using Twitter to ask followers what prices they are willing to pay for smartphone apps
Developing a social media site that allows college consumers to review and provide feedback on new product ideas

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