I’m Professor and Chair of the Department of Economics at LIU Post in New York. I’ve published several articles in professional journals and magazines,
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A man waits in line outside the Apple store on 5th Avenue,
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This tale isn’t new. It parallels another story told last December with a slightly different twist. On the one side was the economy described by President Obama in his pitch to convince Congress to pass the payroll tax cut. It consists of people who need the extra tax money to pay for the heating bill,
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How can American consumers afford $649 iPhones and $180 sneakers at time when the national unemployment rate remains above 8 percent and real incomes decline? That’s an open question when the Fed meeting and the next session of US congress. What isn’t an open question is that Apple’s iPhones and iPads and Nike’s (NYSE:NKE) sneakers are subject to a great deal of World of Mouth (WOM) and buzz. A marketing plan that has always been an efficient and effective way to help new products reach the mass consumer market,
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WOM and buzz are sensitive to marketing campaigns that begin with consumer needs and desires; come up with an innovative product or service offer; target the right group; create the right message; find the right social context,
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Sometimes,
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