116 new technology

Question 1

role of digital media

Answer 1

refers to any information that is broadcast through a screen , included text , audio, video

Question 2

role of social media

Answer 2

influences with millions of followers are used to target advertising at a particular demographic -> effective as they can reach many people at once without it being too expensive

Question 3

role of M-commerce

Answer 3

is buying goods and services through wireless hand held devices eg.phone -> effective as you can reach your customers 24 hours a day (accessible) so can purchase whenever you want -> as it’s easier to buy sales will increase-less barriers

Question 4

role of E-tailoring

Answer 4

is online shopping on a computer which allows consumers to directly buy goods and services from a seller over the internet eg . Amazon-> effective as you can purchase anything -> products are accessible and can be cheaper- doesn’t require traditional channels of marketing and advertising

Question 5

role of clicks and bricks

Answer 5

E-tailing and M-commerce has lead to the creation of clicks and bricks where the business has a web presence (clicks) and a physical presence eg.shop (bricks)-> effective as it allows the business to reach more people increasing their customer base which increases sales and revenue

Question 6

describe pricing and the internet

Answer 6

since businesses are proving more information to customers , it’s easy for them to carry out their own research on sites eg.moneysupermarket -> helping them find the best deals across a while range of products-> impacting prices changed by businesses as they can’t charge too high

Question 7

how are retailers (and other business) affected by new technology

Answer 7

affected by tee technology in terms of:
-distribution opportunities, promotion opportunities, greater competition, changes in tastes and fashion away from physical stores, new market opportunities

Question 8

benefits of new technology to stakeholders

Answer 8

customers -unlimited access to products which get when they want, easy/ effective->depends on if there is a need for the product/ efficiency eg,if delivering food it should be done quickly
managers -need less employees, less need for physical stores- saves money-expansion
shareholders -more online services, sales increase, receive higher amount of dividend