Week 9 Reading Reflection

What stood out to me in the reading was how many unique revenue models social media start-ups have used to generate revenue. I was aware of the Freemium model but other models such as the Virtual Goods Model or the Subscription Model were two that I have not really noticed. After learning about all five different models, I can definitely see how often they are used.

I became confused when the author started to talk about Marketing Philosophy. Each philosophy sounds like it can be effective but the reading said nothing about a new venture adopting more than one philosophy.

Are there any current businesses that use more than one marketing philosophy? If so, are they successful?

How important is it that a business creates and maintains a Social Media Marketing Plan? It is necessary in today’s world?

I think the author was wrong when he said that, “consumer-driven marketing philosophy is most effective, although many ventures do not adopt it.” I disagree because if the consumer-driven philosophy was most effective, I think we would see more and more ventures shifting to that philosophy.