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Electronic commerce, commonly written as e-commerce, is the trading or facilitation of trading in products or services using computer networks, such as the Internet. Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange(EDI), inventory management systems, and automated data collection systems. Modern electronic commerce typically uses the World Wide Web for at least one part of the transaction’s life cycle, although it may also use other technologies such as e-mail.
Online shopping websites for retail sales direct to consumers
Providing or participating in online marketplaces, which process third-party business-to-consumer or consumer-to-consumer sales
Business-to-business buying and selling
Gathering and using demographic data through web contacts and social media
Business-to-business electronic data interchange
Marketing to prospective and established customers by e-mail or fax (for example, with newsletters)
Engaging in retail for launching new products and service.
Electronic Commerce (EC) describes the manner in which transactions take place over networks, mostly the Internet. It is the process of electronically buying and selling goods, services and information. Certain Electronic Commerce applications, such as buying and selling stocks and airline tickets on the internet, are growing very rapidly, exceeding non-internet trades. Electronic Commerce is not just about buying and selling, it also is about electronically communicating, collaborating, and discovering information (sometimes referred to as e-business). It is about e-learning, e-government, social networks, and much more. Electronic Commerce will have an impact on a significant portion of the world, affecting businesses, professions, and, of course, people.
Development of E-Commerce applications started in the early 1970s with electronic funds transfer (EFT), which refers to the computer-based systems used to perform financial transactions electronically. However, the use of these applications was limited to financial institutes, large corporations, and some daring businesses. Electronic data interchange (EDI) enlarged the pool of participating company from manufacturers, retailers, services, and others. Such systems were called Inter organizational System (IOS).An Inter organizational System (IOS) allows the flow of information to be automated between organizations to reach a desired supply-chain management system, which enables the development of competitive organizations. From the 1990s onwards, electronic commerce would additionally include enterprise resource planning systems (ERP), data mining and data warehousing. The term ‘electronic commerce’ was coined in the early 1990s when Internet became commercialized and users began flocking to participate in the World Wide Web. Electronic Commerce applications were then rapidly expanded.
Possibly Electronic Commerce is introduced from the Telephone Exchange Office. The earliest example of many-to-many Electronic Commerce in physical goods was the Boston Computer Exchange, a marketplace for used computers launched in 1982. The first online information marketplace, including online consulting, was likely the American Information Exchange, another pre-Internet online system introduced in 1991.
The entire financial transactions will eventually become electronic, so sooner conversion is going to be lower on cost. It makes every transaction through e-commerce payment a lot cheaper. Higher Margin E-commerce also enables us to move better with higher margin for more business safety. Higher margin also means business with more control as well as flexibility. You can also save time from the e-commerce.
Better Productivity Productivity here means productivity for both companies and customers. People like to find answers online because it is faster and cheaper, and it costs a lot cheaper expense as well for the company.
Quick Comparison E-commerce also enables you to compare price among several providers. In the end, it leads you to smart shopping. People can save more money while they shop. Economy Benefit E-commerce allows us to make transaction without any needs on stores, infrastructure investment, and other common things we find. Companies only need well built website and customer service.
Security Customers need to be confident and trust the provider of payment method. Sometimes, we can be tricked. Examine on integrity and reputation of the web stores before you decide to buy. Scalability of System A company definitely needs a well developed website to support numbers of customers at a time. If your web destination is not well enough, you better forget it.
Integrity on Data and System Customers need secure access all the time. In addition to it, protection to data is also essential. Unless the transaction can provide it, we should refuse for e-commerce. Products People who prefer and focus on product will not buy online. They will want to feel, try, and sit on their new couch and bed. Customer Service and Relation Problem They sometimes forget how essential to build loyal relationship with customers. Without loyalty from customers, they will not survive the business.
Ecommerce (e-commerce) or electronic commerce, a subset of e business, is the purchasing, selling, and exchanging of goods and services over computer networks (such as the Internet) through which transactions or terms of sale are performed electronically. Contrary to popular belief, ecommerce is not just on the Web. In fact, ecommerce was alive and well in business to business transactions before the Web back in the 70s via EDI (Electronic Data Interchange) through VANs (Value-Added Networks). Ecommerce can be broken into four main categories: B2B, B2C, C2B, and C2C.
B2B(Business-to-Business) Companies doing business with each other such as manufacturers selling to distributors and wholesalers selling to retailers. Pricing is based on quantity of order and is often negotiable.
B2C(Business-to-Consumer) Businesses selling to the general public typically through catalogs utilizing shopping cart software. By dollar volume, B2B takes the prize, however B2C is really what the average Joe has in mind with regards to ecommerce as a whole.
C2B(Consumer-to-Business) A consumer posts his project with a set budget online and within hours companies review the consumer’s requirements and bid on the project. The consumer reviews the bids and selects the company that will complete the project. Enlace empowers consumers around the world by providing the meeting ground and platform for such transactions.
C2C(Consumer-to-Consumer) There are many sites offering free classifieds, auctions, and forums where individuals can buy and sell thanks to online payment systems like PayPal where people can send and receive money online with ease. eBay’s auction service is a great example of where person-to-person transactions take place every day since 1995.
G2G (Government-to-Government) G2E (Government-to-Employee), G2B (Government-to-Business), B2G (Business-to-Government), G2C (Government-to-Citizen), C2G (Citizen-to-Government) are other forms of ecommerce that involve transactions with the government–from procurement to filing taxes to business registrations to renewing licenses. There are other categories of ecommerce out there, but they tend to be superfluous.
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