BUAD 307 Contagious Study Guide Questions And Answers
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Course
BUAD 307
Institution
BUAD 307
BUAD 307 Contagious Study Guide Questions And Answers
What are some challenges that exist for new restaurants? What did Howard Wein spread the word about the Barclay Prime Steakhouse? ANS - There are a large number of competitors in the market. 25% fail within the first 6 months
- 60% fail withi...
BUAD 307 Contagious Study Guide Questions And
Answers
What are some challenges that exist for new restaurants? What did Howard Wein spread the word
about the Barclay Prime Steakhouse? ANS - There are a large number of competitors in the
market. 25% fail within the first 6 months
- 60% fail within three years
- Expenses are too high (food being served to the labor that goes preparing the dishes and serving it)
- There's an awareness problem (not enough resources to spend on marketing and advertising,
depending on word of mouth.
- Howard Wein charged 100 dollars for Philly cheesesteak with best ingredients, started a
conversation, focusing on word of mouth, which eventually led to news outlets
Why did a publisher send the author two copies of a book? ANS The publisher sent the author
two copies of the book so that he could give one to a friend or colleague to also spread the book to
his class or friends. If he only sent 1 copy, word of mouth would not be as likely because they would
not have someone to talk to it about. However by sending two he is able to start conversations
potentially. This would allow the author to do the targeting and pass it along the people they believed
it would most closely relate to
What does the author say about the assertion that "social epidemics are driven 'by the efforts of a
handful of exceptional people?'" ANS - The author claims that this is not true. There is a broader
market than appealing only to a couple people and expecting them to spread the word
- In most cases they don't make them any more influential in spreading information or making things
go viral because a message is so inherently contagious that it spreads regardless of who is
disseminating
What does the author mean when he says that "Facebook and Twitter are technologies, not
strategies?" (p. 12) ANS - ...Strategy = a plan to achieve goals
- Word of mouth marketing is effective only if people actually talk. Just putting up a facebook post or
tweeting doesn't mean anyone will notice or spread the word, therefore, it is not a strategy or plan to
achieve goals.
- 7 percent of word of mouth occurs online, people are often overwhelmed with online content
making it hard for someone to actually respond, share all posts they see
, On pp. 14-15, what is the "three Bills" example intended to illustrate with respect to the
dissemination of information? ANS He says that Bill Gates, Bill Cosby and Bill Clinton are all
famous so if you want to be famous change your name to bill. With respect to the spreading of
information he is saying that one must pay attention to successes and failures because just like there
are successful Bill's, not every person named Bill is a success.
What percentage of word of mouth communication has been found to take place online? What are
some reasons for this result? ANS 7% of word of mouth is done online. This is because online
content could go viral but is usually only seen or responded to by 10% of followers (according to an
exercise done by the author in his class), whereas most face to face conversations are much more in
depth. There is more offline conversations than online, whether that is bumping into someone to
waiting in line. Those small conversations are not always recorded, but have a larger impact with
spreading information by word of mouth
How did Blendtec get publicity for its product? ANS Blendtec got publicity by blending regular
products in the blender and posting videos on Youtube to reach their audience. These products
consisted of marbles, rakes, iphones, golf balls, Nintendo Wii controllers, ect. Eventually starting a
Youtube series. These videos racked up millions of views on Youtube spreading the news of the
blender.
What is the strategy behind the Please Don't Tell Bar? ANS The mysterious aspect attracts
customers. Additionally, the best marketing is personal recommendation and that is the only way this
bar is marketed. Secrets do not stay secrets very long because people want to tell and show that they
have information that others do not to make themselves look good and gain social currency.
What was found in the brain scanning study on sharing information about oneself? ANS They
found that sharing personal opinions activated the same brain circuits that respond to rewards like
food and money. They enjoy sharing their information and this is why social media has become so
successful because people enjoy sharing their lives with others. People were even willing to give up a
25% pay cut to share opinions, over doing things for a few seconds. In reality, a few cents is not a
huge incentive that will make people choose one over the other options
What were the results of the "Carla" game? ANS Since Carla drove a minivan, everyone assumed
that she was between 30-45, had kids, and that her kids played soccer. However since Todd had a
mohawk, they assumed he was between 15-30, likes punk music and dressed hipster. People make
similar inferences because choices signal identity, so we make educated guesses based off people's
characteristics.
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