AS2 TP7 Flashcards
(14 cards)
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
