Technology and business

Overview

E-commerce, social media, digital communication and modern payment systems, how each affects sales and costs, and how technology has changed every element of the marketing mix.

What you need to know

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Questions from this subtopic

Each one with the model answer underneath.

1. 1

   Name four types of technology used by business.

   Model answer

   Businesses use e-commerce, social media, digital communication and payment systems.

2. 2

   What is e-commerce, and how do customers use it?

   Model answer

   E-commerce is buying and selling goods and services over the internet. Customers order through a website or app and pay online.

3. 3

   How does e-commerce increase a business's sales?

   Model answer

   E-commerce lets a business sell 24 hours a day to customers anywhere. A small business can reach national and international markets.

4. 4

   How do businesses use social media?

   Model answer

   Businesses use social media to promote products and talk directly with customers. Social media posts can spread quickly and build a brand at low cost.

5. 5

   Give one risk of using social media for a business.

   Model answer

   Negative comments and complaints can spread quickly and damage a firm's reputation. Social media accounts take staff time to manage well.

6. 6

   What is digital communication?

   Model answer

   Digital communication is sending information electronically, such as by email, messaging and video calls. Digital communication is fast and cheap.

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