Essay
BTEC Level 3 Business - Unit 12 - P3
- Institution
- PEARSON (PEARSON)
BTEC Level 3 Business - Unit 12 - P3
[Show more]
Content preview
Explain the Benefits to Customers of a Business Using InternetMarketing - Unit 12 - P3
Comparing and Selecting Providers
The internet allows consumers to compare prices of potential suppliers; this is
known as ‘price transparency’. Prices would be stored digitally in databases
and software, which is then used to search for the best prices available on the
web. Also, instead of prices being set by businesses and passively received by
consumers, the internet can turn this situation upside down as some websites
allow consumers to set their own prices on online auctions by placing bids
after viewing the minimum price acceptable to the seller.
Comprehensive and Up-To-Date Product Information
The internet offers businesses the opportunity to provide total product
information. Online customers are not able to touch, smell, taste or sample the
products. The internet bypasses these issues with the web’s power to store
and communicate information.
For potential buyers on any site the essential product details include:
Price
Descriptions of features and specifications
Colour options (if relevant)
Images
Drawings
Promotional deals
Dynamic Pricing
Customers are able to gain excellent savings by making use of the internet’s
ability to alter prices in real time to reflect market conditions. The website and
supporting technology can respond instantly to market changes. Online
auctions are able to use this same principle also.
Responsive Transactions
The internet offers customers the chance to conduct transactions immediately
and to have the satisfaction of knowing that they have made a purchase or
booking.
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 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 £3.99. 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 revision notes and other study material for 14 years now