How has social media changed the way marketers and consumers communicate with one another? Essay

| First, marketers must realize that they often do not control the content on social media sites. Second, the ability to share experiences quickly and with such large number of people amplifies the impact of word of mouth in a way that can eventually affect a company’s bottom line. Third, social media allow marketers to listen. It is no longer one way communication. Marketers now can actually have conversation with customers and get feedbacks. Fourth, social media also provide more sophisticated methods of measuring how marketers meet and interact with consumers than traditional advertising does. Fifth, social media allow marketers to have much more direct and meaningful conversations with customers.| | , forge deeper relationships, and build brand loyalty. Social media also allows consumers to connect with each other, share opinions, and collaborate on new ideas according to their interests. With social media, the audience is often in control of the message, the medium, the r esponse, or all three. Some companies have had trouble adjusting to this new distribution of control, but the focus of social marketing is on the audience and the brand must adapt to succeed. The interaction between producer and consumer becomes less about entertaining and more about listening, influencing, and engaging.| | 29. How does price interact with the other three Ps of the marketing mix? (Points : 0.5| The marketing manager determines the goals of the company’s promotional strategy in light of the firm’s overall goals for the marketing mix-product, product, place, promotion and price.| Product: The price setting and the quality of the product is related. The price must be decided according to the level of the product and demand for the product. Place: Offering a large profit margin to distributors can often attain adequate distribution of a new product. Promotion: Price can be the main tool for promotion. Low price, discount coupons, events, or campaigns can be used for promotion.| Instructor Explanation:| | 5. Describe the five gaps identified in the gap model of service quality that can cause problems in service delivery and influence customer evaluations of service quality. Discuss ways that marketers can close each gap. (Points : 0. .| Question 😠 Describe the five gaps identified in the gap model of service quality that can cause problems in service delivery and influence customer evaluations of service quality. Discuss ways that marketers can close each gap.| | Student Answer:| | This is gap 3. Gap 3 is due to the inability of management and employees to do what should be done. Management should ensure that employees have the skills and the proper tools to perform their jobs. Other techniques that help to close gap 3 are training employees so they know what management expects and encouraging teamwork.| | Instructor Explanation:| GAP 1 is the gap between what customers want and what management thinks customers want. This gap results from a lack of understanding or a misinterpretation of the customers’ needs. To close gap1, firms must stay attuned to customers’ wishes by researching customer needs and satisfaction.GAP 2 is the gap between what management thinks customers want and the quality specifications that management develops to provide the service. Essentially, this gap is the result of management’s inability to translate customers’ needs into delivery systems within the firm.GAP 3 is the gap between the se rvice quality specifications and the service that is actually provided. Management needs to ensure that employees have the skills and the proper tools to perform their jobs.Other techniques to clos gap 3 are training employees and encouraging teamwork.GAP 4 is the gap between what the company provides and what the customer is told it provides. This is clearly a communications gap. To close gap 4, companies need to create realistic customer expectations through honest, accurate communication about what the firms can provide.GAP 5 is the gap between the service that customers receive and the service they want. This gap can be positive or negative.|