Technology In Operations & Effective Marketing Flashcards
Name two ways that robots can reduce staffing costs
They can be used of tasks that are dangerous and boring, can be used as automated pickers (faster and cheaper)
What are a businesses two main types of technology?
Robotic engineering (manufacturing) & computer technology (IT systems)
Name two advantages and two disadvantages of using robots
AD: companies need less employees (wage costs fall), they are more accurate, more reliable, can be used for unsafe tasks.
DIS: demotivating if some staff lose their jones, incorrect programming can lead to errors, high initial costs, maintenance costs.
Name two ways IT helps companies become more efficient
CAD/CAM, stock control (electronic point of sale), helps with budgetary control (spreadsheets).
Name two ways that IT help make communication faster and more effective
Email (fast and efficient), the internet (large customer base and open 24 hours a day)
Name two ways marketing departments use technology to gather information about customers
Loyalty cards - get names and addresses about customers to market to them
Social networking sites- people tell about their likes and dislikes and business can market to them
Name two advantages and disadvantages of technology
AD: increased productivity, improved quality, reduced waste (accuracy), affective marketing.
DIS: high initial costs, requires constant updating, IT systems mean increased need for staff training.
Define marketing
Marketing is the management process responsible for identifying, anticipating and satisfying consumer requirements.
How is marketing mutually beneficial for consumers and businesses?
The customer gets something they want and the business makes a profit.
How does marketing help a business in a competitive environment?
It helps them obtain a share of the market, helps them come up with new products to make sure customers don’t shop elsewhere, invent USPs for same reason, helps customers stay loyal to a brand.
What is meant by disposable income?
Disposable income is the amount of money that consumers have left after they have payed necessities such as food and bills. When consumers have lots of disposable income they start to buy things they wouldn’t usually buy such as luxury and designer goods.
What affect does an increase in peoples disposable income have on businesses?
For manufacturers of luxury products - increase advertising to get more customers, revenue increases.
For manufacturers of cheaper, lower quality products - increase marketing to win back market share.
Give three ways in which increased brand awareness had changed the way that businesses market goods?
Advertise brand name as opposed to certain products, product placement, point of sale displays.
Give one advantage and one disadvantage of niche marketing
AD- targets people who almost definitely will buy your product, smaller audience so marketing is cheaper.
DIS- they are expensive to produce so you have to set a high price, identifying a niche market can be expensive and time-consuming
Give one advantage and one disadvantage of mass marketing
AD- mass-market targeted so when compared to sales brought in its cheaper, huge audience.
DIS- generalised - no specific target audience, expensive.
