One of the Advantages of Social Media Is That Communities

question 133

Multiple Choice

One of the advantages of social media is that communities can form around ideas, interests, and commonalities regardless of the physical location of their members. The best way to use this advantage to market a product is to

• A)identify consumers in the niche audience who are "passive receivers."
• B)use Facebook to reach the niche audience of consumers because it is the largest and most popular social network.
• C)use Twitter to create a buzz in the niche audience of consumers to target and get them "tweeting."
• D)identify the niche audience of consumers to target and choose the appropriate social network to reach this audience.

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Definitions:

Pareto Optimal Allocations

A condition of resource allocation where it's impossible to make any one individual better off without making at least one individual worse off, emphasizing the concept of efficiency in economic distribution without losses.

Edgeworth Box

A model used in economics to show how different allocations of goods or two goods can affect two individuals' utility levels.

Pareto Optimal Allocations

A situation where no reallocation can make someone better off without making someone else worse off, named after economist Vilfredo Pareto.

Utility Function

A mathematical representation of a consumer's preference ordering over a set of goods and services. It quantifies the satisfaction or happiness derived from consuming these goods and services.