With the Rise of Social Media, Two Major Challenges Facing

question 15

Essay

With the rise of social media, two major challenges facing marketers today are __________.
keeping up with the changing technology and learning how to use it
keeping up with changing technology and choosing the best ones to use
understanding how to use the tools in a way that achieves marketing goals and measuring the effects of social media programs
understanding how to use the tools in a way that achieves marketing goals and interpreting the information gathered
measuring the most effective tools for use and measuring the effects of social media programs

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Definitions:

Necessity

An essential requirement or need for something.

Luxury Good

A good for which demand increases more than proportionally as income rises, often seen as non-essential but desirable.

Price Elasticity Coefficient

A measure that quantifies the responsiveness of the quantity demanded of a good to a change in its price.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, influencing pricing and marketing strategies.