Week 3: Sept 20-22 Question

This week's blog post question follows-up on the discussion we had in class regarding consumers' decision journey and how the new media plays an important role in influencing that journey. As future managers and business owners, ya'll should truly understand the implications of the new media for consumers' decision making process, and also how these ideas fit into the concept of the social feedback cycle that we discussed in class. Do the following for your blog post this week:

1. Download the McKinsey report on consumer decision journey and read it.

My message from last week regarding the report: In addition, below is a report from McKinsey consulting on the typical paths and information sources that consumers follow to purchase various products and services. We have had extensive discussions about this model in our principles class. However, this report comes with interesting data and additional insights. Please read this thoroughly because the model in the report forms the basis for the entire discussion next week. Download the report by clicking on the link here:

Click here for the McKinsey Report

2. Answer the following questions:
a) What is the main message of the report?
b) what are the key differences between the traditional understanding of consumers decision journey and the one proposed by McKinsey? Compare and contrast 3-4 major features.
c) The report details two types of loyalty: what are they? and what does it mean for social media marketing?
d) In your own words, explain the key suggestions of the report for marketing in the new reality.