Unit 5 P4 Business

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P5 Explain how internet marketing has made a selected business more efficient, effective and successful. In this assignment I will be explaining how internet marketing has made a selected business more efficient, effective and successful. Opportunities for business efficiency Business efficiency is very important for a business. The reason why is because, in order for a business such as B&Q to surpass their competitors such as Homebase, Wickes and other DIY businesses they need to use the web to interact with suppliers and customers, by using the web B&Q will become much more efficient because they can meet customers ‘demands’ and suppliers ‘needs’. Streamline customer communications is a very efficient way of working because streamline customer communications deliver fast services, this is best way to keep customers satisfied and when customers’ are satisfied the business becomes more efficient because they are meeting needs and accumulating capital. Additionally, B&Q uses electronic communications to reduce staff costs as this plays a impacting role in the business s as it saves costs for them as the amount of staff needed are…show more content…
this means that they will have a lot of competitors and their competitors will be looking for ways to surpass B&Q. A way in which B&Q can monitor competitor’s activities is by conducting market research on their competitors by going on their competitor’s website and assessing how their competitors use the design of the web to attract customers. Also, another way in which B&Q can monitor competitors activities is by using their customers to make enquires about their competitors services and his will give B&Q an accurate result because when a business meets a new customer they tend to provide them with accurate and updated research and this will benefit B&Q really well because B&Q can then find ways to beat their

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