Get premium membership and access questions with answers, video lessons as well as revision papers.
i) Computer Aided Design Systems has revolutionized product formation and testing, thus affecting the planning and design phases of many products in terms of :
• Design, technology allows ideas to be visualized, tested and quickly accepted or rejected much more quickly than if paper plans were used.
• Simulation of how the proposed products will behave under real life conditions can be done to highlight probable problem areas.
• Consequently, this advancement in technology allows products to get to the market much more quickly and may be cheaper and more reliable.
ii) Computer Aided Manufacturing : Use of computer controlled robotics and mechanized systems to perform tasks much faster than human operatives with greater consistency and accuracy . Customers benefit by getting more reliable, consistent and potentially cheapest products .
iii) Quality Assurance and Control (QA&QC): - Technology has improved methods used for testing samples taken from the production line and the capacity to detect faults during the production process .This benefits customers through reduced costs and reliability of products as fewer products will be produced with faults. This also improves the reputation and relationship of the firm with its customers
iv) JIT: Just-In-Time production system have improved the quality and reliability of materials entering into the production process . This means supplies arrive at the right time in the right amounts to enter production process.
v) Material handling - through computerized planning models known as materials requirement planning (MRP) that has improved efficiency in material handling , minimizing wastage through time, restock, transportation costs etc.
vi) Electronic commerce is any activity that uses some form of electronic communication in the inventory, exchange, advertisement, distribution, and payment of goods and services. Many companies have adapted Internet-based technology to internally support their electronic business strategies.
• An intranet is an Internet-based network used within the boundaries of an organization.
• Extranets, which use Internet-based technologies used to permit communication between a company and its suppliers, distributors, and other partners
Lellah answered the question on November 3, 2021 at 12:27
- Define technological environment.(Solved)
Define technological environment.
Date posted: November 3, 2021. Answers (1)
- What does the socio-cultural elements of a business environment consist of?(Solved)
What does the socio-cultural elements of a business environment consist of?
Date posted: November 3, 2021. Answers (1)
- Highlight ways in which market deals with people?s culture and how it affects business (Solved)
Highlight ways in which market deals with peoples culture and how it affects business
Date posted: November 3, 2021. Answers (1)
- What elements does the political/legal environment comprise of?(Solved)
What elements does the political/legal environment comprise of?
Date posted: November 3, 2021. Answers (1)
- Name economic factors that marketers need to be concerned with that impact their marketing decisions.(Solved)
Name economic factors that marketers need to be concerned with that impact their marketing decisions.
Date posted: November 3, 2021. Answers (1)
- Define economic environment. (Solved)
Define economic environment.
Date posted: November 3, 2021. Answers (1)
- Highlight ways in which natural factors may influence business activities.(Solved)
Highlight ways in which natural factors may influence business activities.
Date posted: November 3, 2021. Answers (1)
- Briefly explain what company?s customers consist of.(Solved)
Briefly explain what companys customers consist of.
Date posted: November 3, 2021. Answers (1)
- What are the factors within a company's operating environment that determine a company's success in achieving its objectives?(Solved)
What are the factors within a company's operating environment that determine a company?s success in achieving its objectives?
Date posted: November 3, 2021. Answers (1)
- Define a macro - marketing environment.(Solved)
Define a macro-marketing environment.
Date posted: November 3, 2021. Answers (1)
- Define environmental planning.(Solved)
Define environmental planning.
Date posted: November 3, 2021. Answers (1)
- Define marketing environment.(Solved)
Define marketing environment.
Date posted: November 3, 2021. Answers (1)
- What are the differences between selling concept and marketing philosophy/concept?(Solved)
What are the differences between selling concept and marketing philosophy/concept?
Date posted: November 3, 2021. Answers (1)
- Explain the four components that characterize holistic marketing.(Solved)
Explain the four components that characterize holistic marketing.
Date posted: November 3, 2021. Answers (1)
- What does holistic marketing concept state?(Solved)
What does holistic marketing concept state?
Date posted: November 3, 2021. Answers (1)
- Give applications of relationship marketing concept.(Solved)
Give applications of relationship marketing concept.
Date posted: November 3, 2021. Answers (1)
- What assumptions does relationship marketing concept make?(Solved)
What assumptions does relationship marketing concept make?
Date posted: November 3, 2021. Answers (1)
- What does the relationship marketing concept focus on?(Solved)
What does the relationship marketing concept focus on?
Date posted: November 3, 2021. Answers (1)
- Define relationship marketing concept.(Solved)
Define relationship marketing concept.
Date posted: November 3, 2021. Answers (1)
- What assumptions does societal marketing concept make?(Solved)
What assumptions does societal marketing concept make?
Date posted: November 3, 2021. Answers (1)