technology and business

• • technology used by business-
  • e-commerce
  • social media
  • digital communication
  • payments systems
• • e-commerce advantages-
  • lets a small business start up from anywhere before buying premises
  • allows for global selling without expensive set up
  • provides scalability - finance faster growth
  • use of social media makes a personal relationship with customers
• • disadvantages of e-commerce-
  • winner takes all sometimes
  • environment bad because of returns and deliveries
  • customer can blackmail business e.g bad reviews
• • e-commerce-
  • 
selling online rather than in a physical one-one transaction. also m-commerce with apps
• • social media-
  • 
interactive channels of communication via words, pictures or blogs. sponsorships and direct messages
• • digital communication-
  • messages or conversations conducted via email, text or social media messaging services
• • payment systems-
  • 
electronic pay like PayPal- vital to e-commerce
• • how technology affects SALES-
  • new tech products like consoles as tech advances
  • better products are more attractive to customers ‘
  • competitive advantage if good technology product
  • e-commerce helped with takeaway food
• • how technology influences COSTS-
  • some websites make promotion cheaper
  • business can use internet to find cheaper suppliers
• • how technology influences the MARKETING MIX-
  • product - improved tech means product is better and gains more market share
  • price - more competitive price because of comparing via internet
  • promotion - easier to target consumers. through tech and cookies
  • place - business website and then delivery, physical retailers disappear