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Currently yes. Because you have many ways to produce a marketing online, such as website, social networks, and other. And we can measure if it's works or not.
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It can be quite effective if applied appropriately. However, there are other ways to market products and services. These include traditional media, such as flyers, classified pamphlets, television, telephonic, and telecommunications. However, one reason online marketing can be quite effective is the large user base these days.