Explain the Benefits to Customers of a Business Using Internet
Marketing - 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.
Marketing - 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.
