Discussion Post: Marketing
• What is meant by blockchain and how do firms use it to meet organizational objectives? Provide examples. Lamb, Hair, and McDaniel identify blockchain as "a ledger in which transactions are made and recorded chronologically and publicly." This system secures information and updates in real time. "Blockchain eliminates fraud, lowers cost of administration for shipments, increases accuracy, reduces delays and disputes pertaining to the content of shipment." An article on xebia.com discusses smart contracts as being one of the most promising applications of blockchain technology. Stating that switching contract execution from service providers to smart contract transparent, conflict free way all while avoiding intermediaries (Scheer, 2018)."
• Discuss the concept of AIDA in detail and its relevance for marketers.
• Explain the different stages of the product life cycle and how marketers adjust their promotion mix for the most successful impact at each stage.
The response must include a reference list. Using one-inch margins, double-space, Times New Roman 12 pnt font and APA style of writing and citations.