EBK PRINCIPLES OF MARKETING
EBK PRINCIPLES OF MARKETING
17th Edition
ISBN: 9780134461427
Author: Armstrong
Publisher: YUZU
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Chapter 14, Problem 14.20CC
Summary Introduction

Case summary:

Few years before, Company V, the one of the biggest producers of trucks (commercial) in the world have faced a challenge. It plans to launch 5 new trucks model in a year. For this Company V needs more communication with the customers so that all the people will talk more about the trucks. It does not want just to have contact with the corporate truck buyers. It wants to target the regular users.

Characters in the case:

  • Company V

To discuss: Whether the consumer marketing approach by Live test is suitable for the B2B marketers.

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I need answer typing clear urjent no chatgpt used pls i will give 5 Upvotes.
In your expert opinion, what do you think is the most effective and efficient way for small business owners to promote and market their products/services? Why? How have you seen the use of referrals and word of mouth advertising work to the benefit of a small business owner?  Please would you kindly provide some examples. How have these methods worked in reverse (to the disadvantage of the owner but possibly benefit the competition)?
In your Expert Opinion, How do the risks differ when you start your business using a purely product development process versus a purely customer development process approach? What are the elements that go into a customer profile and why is each one useful? What are some of the ways that you could use secondary research to better understand the various segments of your market and to develop promotional materials?
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