The Chinese restaurant failed to realize the importance of "word-of-mouth marketing."
<h3>What is word-of-mouth marketing?</h3>
Whenever a consumer's interest inside a company's service or product is reflected in their regular conversations, this is referred to as word-of-mouth marketing (also WOM marketing). Basically, it is free promotion brought on by consumer experiences, which are typically above and beyond their expectations.
Some key features regarding word-of-mouth marketing are-
- Word-of-mouth marketing occurs when customers recommend a business's goods or services to their friends, relatives, and other people they value highly.
- WOM marketing is among the most effective kinds of advertising since 88% of consumers prefer suggestions from their friends than those in traditional media.
- By exceeding customer expectations with a product, delivering first-rate customer service, and providing consumers with insider knowledge, businesses can promote WOM marketing.
- The finest word-of-mouth marketing methods, according to Word of Mouth Marketing Association (WOMMA), are sincere, credible, sociable, repeatable, measurable, and respectful.
To know more about the word-of-mouth marketing, here
brainly.com/question/15472521
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Prt i=prt
p=$6000 i=6000x8%x3yr
r=8% i=1440x2=2880
t=3yr
Answer:
$15 million
Explanation:
Franklin Construction
Construction costs incurred $54,000,000
Less total estimated costs ($44+$27) $69million
The anticipated loss $15 Million
Franklin will recognize anticipated gross loss of $15 million in the first year if it recognizes revenue over time according to percentage of completion method which is ($54 million contract price less total estimated costs of $69million)
