What Percentage of All Consumer Conversations About Brands Happens Online

question 361

Multiple Choice

What percentage of all consumer conversations about brands happens online?

• A)5 percent
• B)10 percent
• C)15 percent
• D)25 percent
• E)40 percent

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Definitions:

Inelastic Demand

A situation where the demand for a product does not change significantly in response to price changes.

Collusion

An agreement, usually illegal, between rivals in which they decide not to compete with each other, often resulting in higher prices or restricted supply of products or services.

Rule-of-thumb

A practical principle that is not strictly accurate in all cases but is sufficient for most circumstances.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in its price, indicating the sensitivity of consumers to price changes.