BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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tenders.
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mavens.
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sharers.
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sellers.
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Detailed explanation-1: -Word-of-mouth marketing is important as it is an effective way to increase sales, promote products and services, increase brand recognition, and build customer loyalty. Many companies employ strategies that prompt customers to recommend their services and/or products and share positive experiences.
Detailed explanation-2: -Word-of-mouth is even more effective than paid ads, resulting in five times more sales. 64% of marketers agree that word-of-mouth is the most effective form of marketing. Most marketers (83%) use word-of-mouth marketing because it increases brand awareness.
Detailed explanation-3: -On average, word-of-mouth drives $6 trillion in annual global spending and is responsible for 13% of all sales. Word-of-mouth is even more effective than paid ads, resulting in five times more sales. 28% of people say that word-of-mouth increases brand affinity (a customer’s common values with a brand).
Detailed explanation-4: -The first stage of the Consumer Decision Making Process, need recognition takes place when a consumer identifies an unmet need.