Topic Summaries

Evaluating technology’s influence on business

GCSE > Business > Eduqas > GCSE Business Topic Summaries > Influences on businesses > Evaluating technology’s influence on business
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Formula sheet

Area Positive impacts Potential challenges
Sales Reach wider audiences, 24/7 Greater global competition
Costs Low labour costs, higher efficiency High upfront investment, training needed
Product Easier customisation, e.g. software updates Customer expectations for innovation rise
Price Data-led pricing; dynamic pricing Transparent pricing forces competitiveness
Promotion Targeted ads, lower costs, viral campaigns Can be ignored or blocked by users
Place Reduced overheads, global access Logistics complexity; cybersecurity risks

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