Final answer:
Social media sites can provide insights into consumers' opinions of the firm's products and those of their competitors.
Step-by-step explanation:
Social media sites can provide insights into consumers' opinions of the firm's products and those of their competitors. For example, customers may publicly express their satisfaction or dissatisfaction with a product on social media platforms, which can give the firm valuable feedback. Additionally, by monitoring social media conversations about their competitors' products, businesses can gain insights into consumer preferences and stay informed about industry trends.