see attachment

Respond to post (Th.H)

Response posts: 

• Includes at least two substantive responses that each include at least 1 scholarly, professional, or textbook reference with accompanying in-text-citation to support any paraphrased, summarized, or quoted material. 

• responses should be at least 200 words. 

Part 2:

           Marketing is ensuring the goods and services meet the consumer or market need. Supply and demand play an instrumental part in marketing. Marketing reflects the needs and wants of customers. A business/manufacturing/service organization produces goods and/or services that are either a need or want by consumers. Those goods and services generate revenue and provide a profit that is used to pay for labor, capital, cost of goods, overhead and other ancillary business items that sustain, improve, and potentially expand goods and services portfolios. Understanding the marketing mix or 4 P’s is critical in strategically marketing a business organization’s goods and services. The 4 Ps are Place, Price, Promotion, Product (Marshal and Johnson, 2023). Each p serves a purpose in creating a strategy for the goods or services the business organization sells.

Part 3:

           Social media can have a positive or negative effect on goods and services. Business organizations must monitor online content about their respective products to understand the consumer’s experience. Social media is an avenue for advertising and addressing consumer complaints in real-time, additionally, business organizations can take quick action and mitigate any adverse action on their product to minimize negative online discussion boards that could and will cause consumers to create product degradation (Godfry & Higgins, 202). Business organization can proactively enlist focus groups, online content creators, and business champions to positively advertise the product, online content creators can highlight the product in everyday life situations creating demand, and finally having business online champions will monitor online content to address any negative discussions about the product.

Does social media preempt consumers to rely on online experiences that consumers buying products?

References

Marshall, G. & Johns, M. (2023). Marketing management (4th ed.). McGraw Hill.

https://online.vitalsources.com/#/books/9781264155415

Godfry, R., & Higgins, M. (2020). Marketing strategy and the hunt for era V. Journal of marketing

 Management, 36(9/10), 867-887. https://doi.org/10.1080/0267257x.2020.1747521