1.5.2 Technology and business

Different types of technology used by business:
● e-commerce
● social media & digital communication
● payment systems.

​How technology influences business activity in terms of:
● sales
● costs
● marketing mix.

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Technological Development 

Why does technology keep advancing? 
Why is it important that small businesses keep up with these changes? 

Task:

For each of the following pieces of technology, identify different examples of how they could be used by a small business.

For each type of technology conisder how it could either help or hinder sales and costs. 

​How can it be used in the marketing mix to create a USP? 

● social media & digital communication (video 1)

​● e-commerce (video 2)
​
● payment systems (video 3)

The Growth of Social Media
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Britain's Youngest Millionaire: 'How I Made My Fortune at 17' | This Morning
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What China's nearly cashless society looks like
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Extension

Social media

​What are the traditional sites available for social media promotion? 
How will soical media influence sales & costs for a business?

10 of The Best Social Media Campaigns of 2015

How can social media promotion present a gap in the market for entrepreneurs?
What risks are there of a business using social media to advertise? 

The Instagram Famous Pets Who Are Making a Mint! | This Morning
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Payment Systmes

What online/electronic payment systems can you name?
What are the benefits of this for sales?

Inside The First Amazon Go Store
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What risks might be attached to electronic payment systems? 
​Why is this a significant risk to smaller companies? 

Top 10 Biggest Computer Hacks
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