Essay
BTEC Level 3 Business - Unit 12 - P4 and P5
- Course
- Institution
BTEC Level 3 Business - Unit 12 - P4 and P5
[Show more]
Seller
Follow
sjade123gogo123
Reviews received
Content preview
P4 – Describe the Benefits and Opportunities to the Business ofUsing Internet Marketing Within the Marketing Mix of a Selected
Business
P5 – Explain how Internet Marketing had made a Selected Business
More Efficient, Effective and Successful
Unit 12 - P4 and P5
The internet presents businesses with many opportunities to improve their
marketing efforts and possibly attain competitive advantages. The extent to
which a business takes up these opportunities is dependent on important
considerations, which are:
Does the business sell appropriate products for online sales?
Does the business have the internal IT resources and skills to monitor
and maintain a transactional website?
Does the businesses leadership have a strategic plan for e-commerce
and internet marketing?
Are the businesses competitors driving them to e-commerce and
internet marketing?
What are the financial and technological capabilities of the business?
Assuming the business has considered these things and has a clear strategy for
its online channel, the marketing benefits available from the internet can be
built and put into practice. There are three main areas that internet marketing
can benefit a business in, which are:
Communications
Product development
Business efficiency
Opportunities to access customers and markets
Trading online gives businesses the chance to access new customers, in new
markets on a global scale. Businesses are able to develop new communication
practices. Web technology allows businesses to present products and services
in detail, with substantial supporting information. The business can use a well-
planned website to capture data about customers such as their names,
addresses, postcodes telephone numbers and email addresses. The business is
able to build up a database of customers and provide personalised web pages
for returning customers according to their previous search and purchase
, history. Once a business is able to contact a customer it can us email to send
further product details or news about the business. In terms of websites
themselves they are a promotional tool. Online businesses seek to create a
look and feel that appeals to the self-image of their target market; this is often
through the use of hidden messages about lifestyle.
Opportunities to Improve Availability
Businesses are able to use the internet to create a 24-hour availability of their
products or services and make them more easily available. Digital media
breaks down any physical constraints and eliminates any time constraints. For
a business this can offer advantages as customers can access the service
anytime and anywhere. On the internet customers initiate contact and in order
to maintain the customers attention the business must present information
that is both relevant and interesting. Internet marketing is able to suit
individuals.
Substituting Online Products
The internet is a multimedia channel and is capable of delivering digital
content in the form of downloads to a home device. Nowadays it is common to
download music, films, radio and TV programmes. These services are an easy
alternative to visiting offline providers and in the case of radio services or TV
broadcasts, offer great flexibility in that users can choose when to listen to or
watch them.
Podcasts
A podcast is a small multimedia file that can be downloaded using the internet.
Podcasts are most commonly used by broadcasters, who make podcasts of
news summaries or snippets of shows. Any business can make use of
podcasting to deliver marketing information.
Market Development
The internet gives online businesses the chance to expand into new markets at
a low cost. A website is capable of creating an instant reach into wide
geographic areas and generates new export sales. However, this opportunity
must be balanced against the expenses and the red tape involved in exporting
to different parts of the world. It is easy to assume that as the internet is a
global phenomenon that a business can launch its website and instantly
generate vast sales globally. However, there are risks involved in an online
strategy; a business may not achieve profitability for a long time, even if it
achieves multi-billions worth of sales. Online services and products have to be
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller sjade123gogo123. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $5.21. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75759 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now