new technology

• How has the rise of the internet changed marketing?

  • Significantly altered marketing strategies
  • Evolved the 4Ps (Price, Product, Place, Promotion)
  • Enabled new ways to reach and engage customers
• What does digital media include in marketing?

  • Online channels
  • Websites
  • All other online advertising methods
• What advantage does digital media provide to companies?

  • Allows companies to reach an expanding audience
  • Facilitates customer engagement
  • Enhances brand visibility
• How does digital media help companies gather customer data?

  • Provides easy access to customer interactions
  • Enables tracking of consumer behavior
  • Facilitates data collection for targeted marketing
• What is targeted advertising in social media marketing?

  • Ads aimed at specific demographics
  • Based on user data and preferences
  • Increases relevance of advertisements
• What role do platforms like YouTube play in social media marketing?

  • Used to promote products through influencers
  • Engages audiences through content creation
  • Enhances brand awareness
• What is viral marketing?

  • Ads that spread person-to-person
  • Often humorous or stylish in nature
  • Leverages social sharing for wider reach
• How has media consumption shifted among young people?

  • Young people consume more online content
  • Traditional media consumption has declined
  • Reflects changing preferences in content delivery
• What is e-tailing?

  • Electronic retail or online shopping
  • Direct sales of goods/services via the internet
  • A growing segment of the retail industry
• What does m-commerce refer to?

  • Buying/selling through mobile devices
  • Includes smartphones and tablets
  • Enhances shopping convenience
• What is meant by "retail outlet in your consumers' pocket" in m-commerce?

  • 24/7 accessibility for consumers
  • Facilitates shopping anytime, anywhere
  • Increases consumer engagement
• What additional features does m-commerce provide beyond buying?

  • Customer information access
  • Promotions and discounts
  • Price comparison and research capabilities
• What is the concept of "Clicks and Bricks" in business?

  • Businesses need both online and physical presence
  • Combines e-commerce with traditional retail
  • Enhances customer reach and sales
• What challenge do high street retailers face due to new technology?

  • Increased competition from online-only businesses
  • Need to adapt to new marketing strategies
  • Pressure to innovate in customer engagement
• How does price transparency affect businesses?

  • Allows easy price comparison for consumers
  • Forces businesses to lower prices
  • Increases competition in the market
• What are the advantages of new technology for businesses in marketing?

  • Increased reach and customer engagement
  • Cost-effective advertising options
  • Ability to gather valuable customer data
• What are the cost implications of new technology for businesses?

  • New businesses can be set up cheaply
  • Increases competition in the market
  • Lowers barriers to entry for entrepreneurs
• What are the disadvantages of new technology for businesses in marketing?

  • Increased competition in the market
  • Constant need to adapt to changing technology
  • Pricing pressures from transparency
• How do customers benefit from new technology in marketing?

  • More access to information and products
  • Easy price comparison for better deals
  • Convenience of online and mobile shopping
• What impact does new technology have on businesses?

  • Lower barriers to entry for new businesses
  • Increased competition in the market
  • Enhanced marketing power for adaptable businesses