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1. Describe at least three differences between fans and customers.

2. Describe at least four factors that affect the demand for a particular commodity.

3. Why do many people spend money on entertainment even in periods of economic hardship?

4. How does the core product affect the perceived value of ancillary products? Explain using an example.

5. How is event marketing valuable for brands?

6. Do you think it's wise for a company to spend millions of dollars for a single commercial during a vastly popular event such as the Super Bowl?

7. Why do corporate sponsors pay athletes and entertainers to use their products?

8. Which do you think is most important to an athlete's or entertainer's success: talent or marketing?

9. Explain how banning performance-enhancing drugs levels the playing field for marketers.

10. Explain why entertainers and athletes can charge so much for their events.

1. Customers buy your product but fans buy and love it. Fans will enthusiastically promote the product to friends and family, will loyally continue to buy without having to be convinced, and will support the company and it's decisions with little hesitation because of how much they love the product.

2. Some factors affecting demand are price, quality, available substitutes, and consumer income.

3. People want a distraction from financial hardships.

4. If the core product is good, it increases the perceived value of ancilliary products. So people who buy an iPhone are more likely to value the other apple products more highly.

5. Event marketing increases brand visibility and gets large groups of people excited and talking about the product.

6. It depends, there are absolutely other things that they could spend millions on but the Superbowl ads are the most-watched ads of any US event so the exposure is generally worth more.

7. It increases brand visibility, recognition, and associates it with someone successful and popular.

8. There are arguments for both. Marketing yourself can get you far, increase your exposure, and help promote your career but at some point if you don't back it up with talent and results it won't matter.

9. This might level the field for athletes who shouldn't get an unfair advantage over each other but there is little relation to marketing without more context.

10. They bring in a lot of money and visibility for the company.

topeadeniran2 topeadeniran2 · Answer 2 · 2021-10-04T21:47:16+02:00

Demand simply means the number of goods that a person buys at a given price and at a particular time.

1. The three main differences between customers and fans include:

Customers are price conscious but fans aren't.
Customers aren't loyal to a company but fans are loyal and admire a particular company or brand.

Customers may buy one's product, while fans think of themselves as being part of the business as they're an extensions of a business

2. The factors that affect the demand for a particular commodity include the following:

Price: The price of a good has an effect on demand. For example, people prefer to buy a good that's cheaper. The higher the price of a good,the lower the quantity that'll be demanded.

Income: The higher the income of a person, the higher the quantity of goods that the person will buy.

Weather: Weather influences demand. For example, during cold weather, there's an increase in the demand of beverages and sweaters.
Population: The number of people in a place affects demand. For example, a place with a higher population will have an increase in demand for goods when compared to a place with a lower population.

3. People spend money on entertainment even in periods of economic hardship because it's a way to distract oneself from the hardships. Also, it can be a hobby which can be difficult to stop.

4. The core product affects the perceived value of ancillary products because a core product influences an ancillary product. An example is buying Samsung products because a person loves their electronics.

5. Event marketing is valuable for brands as it helps in increasing the revenue of the company.

6. It's wise for a company to spend more on a single commercial during a vastly popular event such as the Super Bowl because it helps create more awareness and helps in increasing the revenue of the company as more sales will be made.

7. Corporate sponsors pay athletes and entertainers to use their products on order to increase their brand awareness and increase sales.

8. Both talent and marketing are important for the success of an athlete or entertainer. With the right marketing strategies and talent, the person can get the needed exposure to help their career.

9. Banning performance-enhancing drugs levels the playing field for marketers as it helps prevent a person from having unfair advantage over others.

10. Entertainers and athletes can charge so much for their events because they help increase brand awareness and thereby increase the revenue of the company.

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