5.2a Market tech

Question 1

What are the most significant technologies that businesses can use?

Answer 1

E commerce, social media, digital communication and payment systems

Question 2

What is E-commerce?

Answer 2

The process of using the internet to carry out business transactions

Question 3

What are some advantages to E-commerce?

Answer 3

You can trade at any time of day around the world, the order is processed immediately and it can give real-time order updates to customers

Question 4

What is social media?

Answer 4

Social media is a term which covers a number of online channels that influence businesses such as Facebook, Twitter, YouTube, Instagram and Flickr

Question 5

How has digital communication allowed companies to save money?

Answer 5

Meetings can be held through Skype rather than money having to be spent on offices

Question 6

What are some disadvantages of E-commerce?

Answer 6

It can be expensive to keep up with technology, customers may have security concerns over fraud and it can be harder to form relationships with customers

Question 7

What is m-commerce?

Answer 7

Payment through mobile technology

Question 8

How can technology influence business activity?

Answer 8

On costs, sales and the marketing mix

Question 9

How does technology influence sales?

Answer 9

It ensures that purchases can be made at any time, from any location

Question 10

How does technology influence promotion?

Answer 10

Companies can not se cheap digital promotional materials such as email newsletters, promotional codes and online advertising which are cheaper than physical billboards or ads