Chapter 16 - Esteban Justiniano

Question 1

Define Social media marketing

Answer 1

is a form of internet marketing that involves creating and sharing content on social media networks in order to achieve marketing and branding goals.

Question 2

Define Viral marketing

Answer 2

Is when consumers are encouraged to share information online about the products of a business

Question 3

Define e-commerce

Answer 3

is the online buying and selling of goods and services using computer systems linked to the internet and apps on mobile phones

Question 4

Define Dynamic pricing

Answer 4

Is when businesses change product prices, usually when selling online, depending on the level of demand

Question 5

Analyse the benefeits of e-commerce to consumers

Answer 5

1. dont need to leave the house to buy products, shipped straight home
2. Easy to compare different prices from different stores and buy cheap
3. Payment is very easy through credit/debit card
4. Can view and buy products from abroad, would be impossible without
5. Competition of ecommerce makes prices much cheaper for consumers

Question 6

Analyse the threats of using e-commerce

Answer 6

1. Need access to internet (poorer countries dont have good access to the web)
2. Slow servers or websites or computers failures can frustrate customers
3. Products cannot be seen/touched/tried on (i.e shoes) and returning products is inconvenient
4. Some people are worried about identity theft or credit card fraud by entering their details onto a website

Question 7

Analyse the of using marketing mix for the business

Answer 7

1.Low-cost promotion:websites are cheap to run and can promote worlwide
2.Everything can be automated (orders are
received and sent to warehouse to dispatch
3.Businesses can buy from other businesses (materials/supplies)

Question 8

Analyse the disadvantages of using marketing mix

Answer 8

1. Competition is very tough because competiors also have websites to sell
2. Websites design must be easy to use and attractive, this costs money
3. Transport costs per product sold are higher than sending all to retailer
4. No direct contact with the customer - less feedback