some additional research about social media platforms. Consider the following questions to expand your understanding and reflection on the topic: What happens when a social media platform expands its audience (For example, Houseparty from the article above)? Choose one of the platforms discussed in the textbook and write a blog post about why this platform is valuable to marketers and research good/bad examples of companies using this platform. “Something I don’t Know” – Research an emerging social media channel not discussed in the textbook (e.g. TikTok, HouseParty, Vero, … etc.) o What are its key characteristics (e.g. number of users, user demographics)? o What new trends/features are available (i.e. how does it work)? o What kind of visuals does the site use compared to others? o What’s a typical post look like? o What are some examples of brands using this channel? o What is the significance/impact of this platform on social media marketing strategy? Fill in the Blank: Would brand (the more random the better) use platform ? Why or why not? Your final post should include: • A compelling blog post title that describes the purpose/benefit of reading your post o Successful headlines will adopt a “clickbait” format that targets a specific group with a catchy list or quiz that the group will identify with. o Your introduction should “hook” the reader with an attention-getting question, story, fact, etc. • Skim-friendly, appropriate content o Use relevant keywords, images, bold/underlined font, headings/subheadings, etc. o Make sure your post has a clear: • introduction (should be attention-getting and introduce benefit/relevance to reader) ·body (what do you want your readers to know about?) • conclusion (should include a CTA) o Separate your main points into several short paragraphs and add appropriately formatted Headings/Subheadings for easy readability o At least 3 relevant hyperlinks (to add credibility) with appropriate anchor text (see notes in Module 1 for help with this) • For more specific information about formatting and optimizing a blog post, view Chapter 12, Section 4. Be creative! Try to create your own materials, such as creating your own banner to put at the top of the post – for example, see the links below for free banner templates: • Adobe Spark • Canva • Visme • Use google to find many others…

(Dynamic Pricing in Markdown) A department store has 700 pairs of purple Capri stretch pants that it must sell in the next three weeks. The store manager knows that demand by week for the next three weeks will be linear each week, with the following price-response functions:

Week 1: d1(p1) = (1000 – 100p1)+

Week 2: d2(p2) = (800 – 100p2)+

Week 3: d3(p3) = (700 – 100p3)+

Assume that the demands in the different weeks are independent, that is, that customers who do not buy in a given week do not come back in subsequent weeks.

(a) The retailer wants to find the optimal charge per pair given that she can only set one price for all three weeks. To do so, draw the aggregate price response function as a function of the price.

(b) Find the optimal price. What is her corresponding revenue?

(c) Assume she can charge a different price each week. What are the optimum prices by week she should charge? What is her corresponding revenue?

(d) Consider the optimal value of of the first week price you computed in part (c). Denote it by p*1. The retailer sets this as the first period price. For this price, she was expecting to see a demand of d1(p*1 ) = (1000 – 100p * 1 )+, but instead she sees a demand that is 100 less than expected due to some unforeseen event. She decides to accordingly adjust the prices in weeks 2 and 3. Assuming that the future demand (in weeks 2 and 3) will be as expected, what would be the new optimal prices for weeks 2 and 3?