virtual environment

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An event or situation that is not physically attended but simulated to give the illusion of physical attendance. Companies hold virtual meetings such as video- or webcasts, to extend reach and cut time and transportation costs. Virtual meetings have also become an important marketing medium both within the company and external to it. For example, investors and analysts are regularly informed about a company's progress by means of virtual meetings; employees regularly receive communications updates through webcasts.

Subjects: Marketing.

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