Unit 3: Chapter 16 Flashcards
Technology and The Marketing Mix
What is a distribution strategy used with technology?
E-commerce
How does technology impact the marketing mix?
social media, e-commerce, automated dynamic pricing, constantly improving products due to new tech on market
What are social networking sites?
apps/websites that involve you being social (social media)
What are the advantages of social networking sites?
easy to target main audience (demographic group), edit as quick as the market changes, cheap, reach people who are hard to reach
What are the disadvantages of social networking sites?
- content could be altered and used in a wrong way - ruin brand image.
- annoying adverts
- lack of control once posted
- paying for popups
- people might just scroll
What are the advantages of advertising on your own sites?
- full control
- can edit website to keep up to date
- provide as much info needed
What are the disadvantages of advertising on your own sites?
- exp to design
- needs to be eye-catching to get interest
- people may not see it (relies on customers finding it)
What is social media marketing?
a form of internet marketing that gets people to create and share content on social media networks in order to achieve marketing and branding goals. Post images, text, videos, ads etc to engage audience
What is viral marketing?
when customers are encouraged to share info online about the business and its products
What are some types of social media marketing?
tweets, videos/reels, blogs, apps, sms
What is e-commerce?
purchasing + selling products online using the internet.
apps, websites etc.
What are the advantages of e-commerce to businesses?
- promote worldwide
- cheap
- direct orders (warehouse to dispatch)
- easy dynamic pricing (flexible - high revenue)
What are the advantages of e-commerce for consumers?
- convenient
- easy product comparisons
- credit payment easy
- easy access to abroad stores
- lower prices due to high competition
- can buy straight from manufacturers (cheaper as no added costs - same for packaging)
What are the disadvantages of e-commerce to business?
- high competition so lower prices so lower revenue
- good website design is expensive but crucial
- transport and packaging cost per product (but some consumers pay shipping)
- no face to face contact so hard for loyal customers
- returns are exp
- not suitable for personal services like tailor
What are the threats of e-commerce to customers?
- internet access + weak connections
- cannot see/try product beforehand
- could get scammed through credit card details
- no face to face contact so hard to find opinions
