BU121 Lecture Notes - Lecture 17: Contingency Plan, Sensitivity Analysis
Document Summary
Objectives: create aida, communicate value proposition, position product in consumer"s mind o key is to sell products. Key: communicate brand in a way that persuades/leads to sale. Ideally you want your message to go viral: but don"t lose sight of what makes things go viral in the first place. Laws of going viral" by jonah berger, contagious: its more than online only 7% o 10 million views doesn"t matter. Goal is to turn customers into advocates o shares are more important than views. Number of shares/number of views = virality: word to mouth is better than online o not just viralvaluable virality. Viral coefficient = # invited friends x % conversion rate. Forecasting demand: no formula projections based on research and logic = educated guess you can defend, market potential doesn"t = sales forecast, and forecast depends on plan - scalability, top-down forecasting (breakdown)
