Reference no: EM132967339

Question 1: What is the final step in the marketing process?

Question 2: Explain least four factors in the economic environment that will affect customers' willingness and ability to spend their money on a firm's product?

Question 3: ____________ shifts, such as age, gender, ethnicity, and marital status, and changing values, can signal opportunities for businesses.

case study :

Wanelo: $100 Million Valuation, Zero Products

Wanelo, a shortened mix of the words"want,Need,Love," is attempting to be for shopping what " Facebook is for friends" and "Instagram is for pictures" as founder Deena Varshavskaya puts it. In other words, it tries to "optimize" shopping in a deeply social manner. Founded in 2012, Wanelo has no products of its own: rather, it connects users to millions of products from hundreds of thousands of stores worldwide . This digital mall" allows users to save, post, share, and tag products for others to view and share. They can instantly buy items they like with the click of a button. Wanelo also recommends products it thinks users will like based ion their past viewing patterns.

Wanelo not only has no products, it also does traditional marketing. Founder Varshavskaya instead focuses on further improving the Wanelo platform. Your product or service will market itself, she argues, once it directly and elegantly solves the problem your customers need it to solve. Other entrepreneurs could do well to learn from Wanelo's unusual product and marketing strategy choices.

Critical thinking questions

1. describe the marketing strategy that wanelo uses.
2. Which part of the marketing mix does Wanelo seem to particularly excel at?
3. How does Wanelo use the "Social experience " of an online mail to appeal to both stores and consumers?
4. If Wanelo does not use traditional advertising , How do you think consumers find out about it?