SmartHome Solutions was the first to release a smart thermos…

SmartHome Solutions was the first to release a smart thermostat, establishing itself as a pioneer in the market. However, subsequent entrants leveraged SmartHome Solutions’ market data and customer feedback to create similar products at lower costs, gaining market share without the initial investment. What is the disadvantage of the “first mover” strategy that SmartHome Solutions encountered?

In a study of public speaking anxiety, participants are rand…

In a study of public speaking anxiety, participants are randomly assigned to recieve either an anxiety reducing medication or an inactive sugar pill. Participants are not told which pill they recieved. The pills look the same so that the researcher distributing the medication cannot tell which pill the participants recieve. What is this procedure called?  

Adventure Gear Co. is preparing a campaign for their latest…

Adventure Gear Co. is preparing a campaign for their latest outdoor equipment. Adventure Gear is focused on reaching their customers where they already are during their customer journey and the marketing communication team at Adventure Gear is looking into placing ads in Instagram/Facebook feeds, Spotify, YouTube, and sponsoring an outdoor event in Austin and other major cities. In terms of our Marketing Communication Model, this set of decision refers to which of the six steps in the model?