Question

Let's assume that you're starting a new fishing business (not Cod as they are fished out in New England). Discuss the potential customers for this product/service. Remember you could be doing this anywhere in the world. 2. Based on the nature of the product/service, recommend at least 3 possible social media to use in marketing the product/service. Describe your recommendations and discuss the advantages and disadvantages of each. 3. How would you ensure long-term sustainability in your new endeavor

Answer 1

Explanation:

1. The fishing business is a striving business anywhere in the world as many people depend on fish for its various uses. The potential customers for this product/service include;

• individuals who purchase for food
• pharmaceutical corporations: fish oil are known for their medicinal value are used as ingredients in certain drugs.

 2. Based on the nature of the product/service, the 3 possible social media to use in marketing the product/service:

• video platforms (not named because of Brainly's guidelines)

PROs> This allows for more engaging ads, where you actually track key performance metrics of those who showed interest in video ads.

CONS> It usually comes at a higher cost

• chat platforms

PROs> It allows easy feedback

CONs> It doesn't allow key performance metrics to tracked effectively.

• influencer platforms.

3. To ensure long-term sustainability in our new endeavor emphasis would be placed on reducing operating cost structure.