MARKETING:REAL PEOPLE,REAL CHOICES
10th Edition
ISBN: 9780135199893
Author: Solomon
Publisher: RENT PEARS
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Question
Chapter 10, Problem 3QA
Summary Introduction
To explain: The difference between demand curves of normal product and prestige product along with the meaning of “demand shifts” and their importance for a marketer and the estimation of demand by firms and estimation of elasticity of demand by marketers.
Introduction:
Demand curve is a graphical representation of how quantity demanded changes due to change in prices, other factors being constant.
Elasticity of demand is a measure which measures change in quantity demanded by the consumers due to change in price, other things being constant. One can categorize the demand as “elastic” or “inelastic” based on how much a certain product is responsive to price changes.
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I need typing clear urjent no chatgpt used i will give 5 upvotes pls full explain with diagram
1. Answer the following about podcasting as a new distribution channel of people who do virtual assistance as their business and include references:
• How does podcasting as a distribution channel of a virtual assistant increase their market reach, improve customer experience, and is cost-efficient?
• How does this align with the overall marketing strategy? Consider product, price, promotion, and place.
• What is the probable target audience, and what are their probable age, gender, location, and interests?
• Who are the potential participants? Is it wholesalers, retailers, online platforms, or etc.
Instruction:
1. Give one new distribution channels for Virtual Assistance (freelance business) that is not commonly used.
- show a chart/diagram to illustrate the flow of the distribution channels.
- explain the rationale behind it. (e.g., increased market reach, improved customer experience, cost-efficiency).
- connect the given distribution channel to the marketing mix: (How does it align with the overall marketing strategy? Consider product, price, promotion, and place.).
- define the target audience: (Age, gender, location, interests, etc.).
- lastly, identify potential participants: (Wholesalers, retailers, online platforms, etc.)
Kindly provide references.
Chapter 10 Solutions
MARKETING:REAL PEOPLE,REAL CHOICES
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