Explain How Social Media Have Changed How Firms Communicate with Their

question 56

Essay

Explain how social media have changed how firms communicate with their customers relative to traditional forms of marketing products.

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Definitions:

HHI

The Herfindahl-Hirschman Index, a measure of market concentration used to determine the level of competition within an industry.

HHI

A measure of market concentration used to determine the competitiveness of a market. Also known as the Herfindahl-Hirschman Index.

HHI

The Herfindahl-Hirschman Index, a measure of market concentration to assess the level of competition within an industry.

Herfindahl-Hirschman Index

A measure used to quantify the level of competition within an industry, calculated by squaring the market share of each firm and summing the total.