AS2 TP7 Flashcards
what is digital marketing
uses technology such as websites, social media to reach customers, create brand awareness and sell goods or services
advantages of digital marketing
cost - much more cost effective than other methods of marketing
opportunity - allows business to search for new market opportunities globally
easier trading - enables results to be monitored so market plans can be formulated
disadvantages of digital marketing
initial costs - business is required to invest in digital tech in order to succeed
potential failure - success not guaranteed in a competitive global business environment
what is mobile technology
allows business to conduct business everywhere through wifi, 4G allowing internet access
advantages of mobile technology
instant results - customers can complete purchases easier
user response - build loyal customer base through increased customer transactions
flexibility - enables staff to complete business tasks from remote locations and outside business hours if required
disadvantages of mobile technology
security - processes aimed at ensuring data security are expensive
cost - staff training costs are incurred by business and may reduce profitability
advantages of using internet to grow business
speed and reach - business can circulate email documents both quickly and widely via website etc
interactivity - facilitates interactive business relationships with consumers
more environmentally friendly - no need to print off things like brochures therefor reducing paper consumption
disadvantages of using the internet to grow business
cost - requires financial support to undertake e-business reducing profitability
security - business must make arrangements to secure data
bad reviews - can give bad rep
advantages of using social media to grow business
promotion - business can promote products through posts, influencers and campaigns
interactivity - increased consumer interactions in relation to products
disadvantages of using social media to grow business
trained professionals are required to manage a business’ social media to ensure positive brand image
costs - maintaining social media presence may increase business costs
advantages of e-business to the firm
increase profit potential - due to wider audience range
accessible 24/7 as no restrictions on opening hours
lower running costs helps to keep business competitive
disadvantages of e-business to the firm
issues with access - some people reluctant to purchase goods online as can’t try product reducing audience
creating website can be costly and time consuming - updating software, employing web designers
advantages of e-business to consumers
lower prices - lower running costs of business past on to products
accessible 24/7 - can shop at their convince
increased choice with accessibility to products with variations
disadvantages of e-business to consumers
inconsistent return policies - can be frustrating with poor online customer service
shipping may take long time
security concerns - reluctant to buy if website appears to be insecure
