Topic 4 Digital Trading Notes Business

Give two advantages of digital trading to business.

• Cost effective way of promoting the business to many customers, through search engine listings

• Costs associated with the design, maintenance and updating of the website

• Website information can be updated quicker than business documents, such as catalogues

• Technical difficulties can lead to a poor corporate image

Give two disadvantages of digital trading to business.

• Provides access to a global market

• Costs associated with the design, maintenance and updating of the website

• Adds additional legal and security issues

• There will be a time delay between ordering the item and the delivery of it, this can also be expensive

Give 2 advantages of digital trading to business.

• Provides access to a global market

• Increased sales due to a larger market and the fact that people can trade digitally 24/7/365

• Can shop from the comfort of their own homes

• Have their products delivered without the inconvenience of visiting a shop

Give 2 disadvantages of digital trading to business.

• Increase the level of competition faced by the business

• Technical difficulties can lead to a poor corporate image

• Some businesses will not need a high street location or expensive showrooms, this is a major cost saving.

• Products may appear different on the website, meaning goods will have to be returned and postage costs paid

Give 2 disadvantages of digital trading to business.

• Website information can be updated quicker than business documents, such as catalogues

• Technical difficulties can lead to a poor corporate image

• Can access important information, eg price comparison, online reviews

• Security concerns can be a problem, especially when dealing with people’s money or personal details

Give 2 advantages of digital trading to business.

• Adds additional legal and security issues

• Some businesses will not need a high street location or expensive showrooms, this is a major cost saving.

• Increased sales due to a larger market and the fact that people can trade digitally 24/7/365

• Have their products delivered without the inconvenience of visiting a shop

Give 2 advantages of digital trading to business.

• Website information can be updated quicker than business documents, such as catalogues.

• Costs associated with the design, maintenance and updating of the website.

• On-secure websites credit card or personal details could be intercepted.

• Some businesses will not need a high street location or expensive showrooms, this is a major cost saving.

Give 2 disadvantages of digital trading to business.

• Costs associated with the design, maintenance and updating of the website

• Adds additional legal and security issues

• Provides access to a global market

• Can access important information, eg price comparison, online reviews

Give 2 disadvantages if digital trading to business.

• Provides access to a global market

• Website information can be updated quicker than business documents, such as catalogues

• Increase the level of competition faced by the business

• Security concerns can be a problem, especially when dealing with people’s money or personal details

Give 2 advantages of digital trading to business.

• Security concerns can be a problem, especially when dealing with people’s money or personal details

• Provides access to a global market

• Increase the level of competition faced by the business

• Cost effective way of promoting the business to many customers, through search engine listings