The Rise of Social Media Has Made _____ Promotion a Tool

question 71

Short Answer

The rise of social media has made _____ promotion a tool that many firms can exploit.

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Definitions:

Utilities

Services such as electricity, gas, water, and sewage treatment that are provided to consumers and businesses.

Fixed Costs

Fixed costs are expenses that do not change with the level of production or sales, such as rent, salaries, and insurance premiums.

Profit Centers

Divisions or units within a business that are directly responsible for generating profits.

Contribution Margin

The difference between sales revenue and variable costs of production, used to cover fixed costs and generate profit.