Electronic Commerce

Electronic Commerce

The advancement of computer technology and internet, domestic as well as international businesses are being fascinated toward these technologies. Today, most of the small or big businesses and domestic or international business offer their products and services through  Internet.

The business organizations these days have attractive and interactive  website through which they promote and market their business.

The facility of computer based technology and Internet collectively integrates  the fragment markets by offering tem a common arena Technology has further helped organizations in cost cutting and has also helped reduce the cost of products and services.

Technology facilitates customers in buying product or services of their requirement by sitting at home ao any place.

What is Electronic Commerce?

Electronic commerce or simply ecommerce is normally  a process that involves facilitating the availability of products and services online. The users can search, choose, sell, buy from a wide range of options though Internet.

The major activities of ecommerce are as follows –

• Selling product and services online (through internet)

• Buying products and services online

• Paying and accepting payment online

• Transaction of business and other services online

Features of E-Commerce

Following are the important feature of ecommerce –

• It efficiently increase the business capability.

• It substantially reduces the cost.

• It perceptively increases the delivery services.

• It is unbreakable solution quick business transactions and office automation.

• It is potentially increases the intra-business functionality.

• It competently increases the business communication.

Types of E-Commerce

Following are the types of e-commerce business –

Business-to-Business (B2B)

It is conducted between two business firm consumer.

Business-to-Customer (B2C)

It is conducted between the business firm and the customer.

Consumer-to-Consumer (C2C)

Consumer-to-consumer business dals hppen between two consumers; there are certain websites that facilitates a  common platform to both the consumers – one who wants to buy and one who want to sell.

Benefits of E-Commerce

let us now discuss the benefit of e-commerce –

• It is facilitate free market.

• It is available in 24×7.

• Its presence is global (there is no constrain of political boundary as such).

• Set up cost is substantially low.

• It provides user-friendly technology.

• It offers multiple opportunity parallel and simultaneously.

• It provides frugal facilities to promote and market businesses.

• It has features to offer market research facility.

• It make customer relations management easier.

• It facilitates the provision of 24×7 customer care services.

• It provides fund transfer facility domestically as well as internationally with simple  steps.