Describe the Key Differences and How Might Marketers Use This

question 98

Essay

Describe the key differences and how might marketers use this information of the five major social media user behavioral groups in Canada,as identified by Zinc Research.

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Definitions:

Monopolistic Competition

A market structure characterized by many firms selling products that are similar but not identical, allowing for some degree of market power and product differentiation.

Diffusion of Innovation

The process by which a new idea, product, or behavior spreads through a population or social system over time.

Product Line

A group of related products manufactured by a single company, often serving a particular customer segment or purpose.

Brand Extension

A strategy whereby a company uses an existing brand name to launch a product in a different category, leveraging the brand's established image and following.