How Has Social Media Changed the Way Marketers and Consumers

question 26

Essay

How has social media changed the way marketers and consumers communicate with one another? How has it changed who is in control of the communication?

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Definitions:

Financial Intermediaries

Entities such as banks, insurance companies, and investment firms that facilitate transactions between savers and borrowers by channeling funds from those who save to those who need to borrow.

Commercial Banks

Financial institutions that accept deposits from the public, offer various savings products, and provide loans including personal, mortgage, and business loans.

Insurance Companies

Businesses that provide coverage, in the form of compensation resulting from loss, damages, injury, treatment, or hardship in exchange for premium payments.

Money Market Security

Short-term financial instruments, typically debt-based, that are highly liquid and considered to have low risk.