Business communication and market analysis

Question 1

Advantages of electronic market analysis

Answer 1

• fast data transmission, reduces lead time
• data collection is accurate, provides basis for good decision making, staying competitive
• less postage costs
• more detailed information can be collected
• allows large quantities of data to be quick collected and analysed for trends to be spotted
• efficient storage of data so minimal space needed

Question 2

Electronic communication - advantages of email vs. telephone

Answer 2

• easier to contact large groups of people
• message content is stored for referral
• attachments can be sent
• emails give you more thinking time
• less expensive
• easier to filter/prioritise messages
• more secure/private

Question 3

advantages of the use of the internet as a marketing tool

Answer 3

• cheap method of advertising
• focused marketing at specific consumers
• has a global reach, expands customer base
• provides a direct link to sales
• wide range of information available
• business and sales can be directly monitored
• websites encoraje 24/7 sales

Question 4

what is an ISDN line?

Answer 4

Integrated Services for Digital Network (ISDN) is a set of communication standards for simultaneous digital transmission of voice, video, data, and other network services over the traditional circuits of the public switched telephone network. It was first defined in 1988 in the CCITT red book.

Question 5

Characteristics of an ISDN line

Answer 5

• high speed
• wide bandwidth
• lets digital data pass along analogue telephone lines
• modems at the input and output convert signals to audible tones and vice versa
• allows for shared use of networks
• can be installed over existing telephone lines
• lines can be used for voice or data
• broadband is cheaper and easier to set up
• allows easy access to the web
• ISDN is a dial up service

Question 6

Why did broadband replace ISDN?

Answer 6

• broadband is faster
• allows for an always online service
• no need for dial up to get connected
• frees up local landline when online
• no call charges when using the internet
• data does not need to be converted
• provides two channels on the phone line
• allows for wireless connection and hotspots
• allows for more than one user to connect
• 3g/4g/satellite/allow it to be used anywhere
• no interference on connection
• can handle large amounts of data
• allows for more complex software to be used

Question 7

Advantages of EPOS (electronic point of sale)

Answer 7

-gives a full and instant account of all transactions/stock levels
-it gives the means to moniter product demand on a daily basis
-ensure stock is reordered before it runs out
prevents unnecessary capital being tied up
-provides data which can automatically be loaded into financial spreadsheets
-reduces the time between order an receipt of a product
-reduces human error and labour cost
-products can be scanned at checkout reducing waiting time
-unique product barcodes can be used for stock taking
-centralised stock data from sales can prevent over ordering(JIT)
-assists stock control as sales trends can be monitored