In recent years, the advent of Information Technology has led to a change in the way companies conduct business. Which of the following is an impact of information technology on the buying process? The number of decisions that need to be made while selecting a product drops. Product prices are lowered. Shipping times decrease, causing consumer dissatisfaction because expectations are not met. The purchase decision of consumers is influenced by a variety of additional factors. This is a great example of how to teach the correct subject verb agreement.
Since there are four or more verbs in the question, who performs what actions on whom will be very important! The correct answer will have all four verb tenses performed on their respective subjects – “Information Technology has lead to a change in how companies conduct business”, “If Information Technology has lead to a change in how companies conduct business”, “Information Technology has led to a change in how companies conduct business”. A review of the story will identify the articles main idea: that there is a direct effect between Information Technology and how companies conduct their business.
Additional evidence for this claim can be found early on in the article where information technology was used by an unnamed company to make themselves more successful. Customers have access to more information about products than ever before. Advertising is no longer as necessary because customers have more access to information about products. Customers have more power in the buying process with quicker and easier access to information about products from all vendors—including manufacturers and distributors as well as retailers.
1. Number of Decisions That Need To Be Made While Selecting A Product Drops
In the past, buying a product required a customer to go to the store physically and select among a limited number of options available. The customer also had to figure out whether the product would suit his requirements. However, with information technology, customers have access to more information about products than ever before.
They can check manufacturers’ websites for specifications, features and technical details and compare prices from different shopping portals. Customers have more power in the buying process with quicker and easier access to information about products from all vendors—including manufacturers and distributors as well as retailers.
2. Product Prices Are Lowered
With information technology, customers have the ability to compare prices from different vendors easily. As a result, the competition among retailers forces them to offer lower prices. Also, customers can access more information about products and make better-informed decisions before buying, thus lowering their reliance on salespeople. In fact, customers often search for product reviews and advice from experts before spending their money on a product.
For example, according to another report by Forrester Research Inc., 51 percent of sales of computers that cost more than $1,000 are influenced by online shopping or research at the time of purchase; other industry experts disagree with this figure (Forrester Research Inc., “What Is Shopping Online?” May 2001).
3. Shipping Times Decrease, Causing Consumer Discomfort Because Expectations Are Not Met
The number of shipping days required to ship a product has declined significantly, resulting in consumer dissatisfaction because expectations are not met. Many customers have reported being frustrated by the process of ordering online, as they frequently require several weeks to receive their packages (Gartner Dataquest Inc., “Global Online Purchases Rise by Nearly 40 Percent” May 2001).
The most troublesome aspects of buying online include the delayed delivery and poor customer service. Factors such as website management have also been cited as reasons for delays (McKinsey Quarterly, “How a Global Product Revolution Unfolds,” 1998).
4. Customers Have Access To More Information About Products Than Ever Before
The arrival of information technology has resulted in an increase in the amount of information available to customers about products. This translates into a better understanding of different features and technical specifications, which is likely to lead to increased satisfaction and loyalty. Customers tend to be more confident when they buy products online because they have access to detailed product information in order to make informed buying decisions.
5. Advertising Is No Longer As Necessary Because Customers Have More Access To Information About Products
With information technology, customers have access to more information than ever before. As a result, they do not need advertising to tell them about products; in fact, advertising may even take away from the product’s appeal if customers already know all the details about it prior to seeing the ad. The importance of advertising has declined in recent years as customers have more power in the buying process with quicker and easier access to information about products from all vendors—including manufacturers and distributors as well as retailers.