3.3.5 Technology and the Marketing Mix

Define e-commerce

• Messages communicated via email or text

• Ways of paying electronically

• A website displaying your product

• Selling your product online

Define social media

• Messages cominicated via emai or text

• Ways of paying electronically

• Interactive channels of communication

• Selling your product online

Define digital communication

• Messages cominicated via emai or text

• Ways of paying electronically

• A website displaying your product

• Selling your product online

Define payment systems

• Messages cominicated via emai or text

• Ways of paying electronically

• A website displaying your product

• Selling your product online

Why must a business be aware of technology?

• So they can build a robot

• To maximise the efficiency of the systems within the business

• So you can use computers

• To make the business look smart

How does e-commerce effect competition?

• Makes it easier to set up a business so reduces barriers to entry and increases competition

• Makes it harder to set up a business increasing barriers to entry

• Makes it easier to be competitive. Those who keep on top of competition succeed

• Makes it easier to set up a website

How can technology effect sales?

• Always improves them

• The worst possible decision

• When used correctly it can boost sales

• too expensive to make a difference

How can technology improve payment systems?

• Makes payments more flexible, quick and secure

• Leaves us more open to hackers

• They can't be trusted it's controlled by the government

• Guarantees all invoices are paid on time

What is an advantage to setting up a website?

• Enables a small business to sell to the world increasing their potential market size

• To prevent blackmail

• To protect again viruses

• Guarantees a competitive advantage and additional sales.

What is a disadvantage to setting up website

• Enables a small business to sell to the world

• To prevent blackmail

• To protect again viruses

• Makes controlling orders difficult