Reference no: EM133540014

Question

The key to marketing excellence is a sense of continual improvement, and as such, marketers must be constantly researching the rapidly emerging global marketplace and adjusting and adapting strategies to meet these requirements. When answering the questions below, remember marketers are facing an ever-crowded attention economy marketplace and there is a clear need to think harder about how to survive and thrive. Traditional marketing is a mandatory foundation, but the application of new strategies is essential, such as influencer marketing, business-to-individual marketing strategy driven by artificial intelligence, and many other emerging methods. Respond to the prompts below:

1. Explain how adjusting the customer service level could improve a marketing mix and how the current fourth industrial revolution/attention economy impacts these efforts. Provide examples to support your claims.

2. Discuss the life cycle of a product in terms of its probable impact on a manufacturer's marketing mix. Has the advent of the fourth industrial revolution and artificial intelligence changed the rate of impact? Include examples such as but not limited to personal computers.

3. What are the advantages and disadvantages of shopping for clothing on the Internet?