__________ Networking Sites Such as Facebook and Twitter Enable Businesses

question 71

Short Answer

__________ networking sites such as Facebook and Twitter enable businesses to connect with customers and employees,share company news,and exchange ideas.

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Definitions:

Marketing Mix

The combination of factors that can be controlled by a company to influence consumers to purchase its products, typically including product, price, place, and promotion.

Variable Costs

Expenses that vary directly with the level of production or output, such as materials and labor.

Fixed Costs

Expenses that do not change in proportion to the activity of a business, such as rent, salaries, and equipment maintenance costs.

Market Skimming

A pricing strategy where a firm charges the highest initial price that customers will pay and then lowers it over time as the demand of the first set of customers is satisfied.