SM Unit 2 Text Questions.docx - 1 Describe at least three differences between fans and customers Customers are price conscious and fans are not fans are

SM Unit 2 Text Questions.docx - 1 Describe at least three...

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1. Describe at least three differences between fans and customers. Customers are price conscious and fans are not, fans are more likely to become walking advertisement while customers are not, fans are die hards for brands while customers are more willing to change brands. 1. Describe at least four factors that affect the demand for a particular commodity. Popularity, value, market size, relevancy 1. Why do many people spend money on entertainment even in periods of economic hardship? It gives them something to unwind with from work and it also helps to pass the time and make them happy. 1. How does the core product affect the perceived value of ancillary products? Explain using an example. The more popular the core product the more popular and valuable the ancillary products. They have a direct relation to each other. For example, the better the patriots do every year the more valuable the jerseys are. 1. How is event marketing valuable for brands?
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