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homework2_re.docxSubmission Instructions:
Date Assigned: April 11, 2016
Due Date: April 18, 2016 (by 12 PM)
Submission: Submit your homework via BBLearn by 12PM on April 18
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The Business of Social Media and Making the ROI
Read Closing Case Study Two (The Business of Social Media and Making the ROI) on page 60 (Chapter 2) and answer the following FOUR questions:
a. Let’s suppose your current annual sales are $1 million. You implement social media strategy and begin generating $200,000 in revenue through your Facebook page. At the end your sales are still $1 million. Was your social media strategy successful? Why or Why not?
b. Every social media strategy costs money to implement and there are a few of those costs listed in the case study. Identify a few other costs that you think are associated with social media. Briefly describe them and classify them as fixed costs or variable costs.
c. Suppose you have a successful business with a well-liked product. One day something goes wrong and you ship 100,000 defective products. Almost the entirety of your customer base is disgruntled. What social media strategy would you employ to help? Why?
d. Would you be better off by just “waiting for it to get over” or “by sticking your head in the sand”? Why?
