One of the Advantages of Social Media Is That Communities

question 47

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 the niche audience of consumers to target and choose the appropriate social network to reach this audience.
• 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 consumers in the niche audience who are "passive receivers."

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Definitions:

Quantity Of Output

The total amount of goods or services produced by a firm or economy within a specific period.

Deadweight Loss

A loss of economic efficiency that can occur when the free market equilibrium is not achieved due to market failures or interventions.

Marginal Cost Curve

A graphical representation showing how the cost to produce one additional unit of output varies with the level of production.

Marginal Revenue Curve

A visual representation that shows the additional revenue generated by selling one more unit of a good or service.