E – Commerce

· Definition:

E-commerce is the business transactions (buying and selling of goods and services takes place through internet.

E-commerce is a term form any type of business, or commercial transaction that involves the transfer of information across the internet.
It includes retail shopping, banking, stock, real estate transaction, airlines booking.
It allows consumers to electronically exchange goods and services with no limitation of time or distance.

E – Commerce is commonly referred to as online commerce, web commerce, e-business, e-retail.
E-commerce stands for electronic commerce

E-commerce means buying and selling of good or products on the internet
It uses electronic medium to carry out commercial transaction.
It involves in advertising, multimedia, products information, customer support on world wide web(www)
I hares business information maintaining business relationship, conducting business transaction through telecommunication networks or internet.

Improving the quality of goods and services and increasing the speed of service regarding delivery.
E-commerce is associated with the buying and selling of information product and services via computer network.
It reduces costs for order placing, order delivery.
It provides lower product cycle time.
It provides faster customer response
It improves service quality.
E-commerce managing, conducting and executing business transactions using computer to telecommunication networks.
E-commerce improve productivity and competitiveness of business.
To make business build customer loyalty, create an efficient channel for transaction with customers and increasingly global market.
To support the marketing of product and services.
To capture attention and customer and partners with online advertising.
To capture secure order and route EDI (Electronic Data Interchange) transaction over internet.
To provide customer with highest level of security by ensuring that each transaction is delivered.
To promote transaction by making it safe and secure.
To meet altering and challenging need of society in the field of E-commerce
To stop victimizing the innocent.

Advantages of E-commerce to organization: International marketplace single physical marketplace locates in different geographical area, E- commerce enabled, businesses to access the people all around the world.
Save operational cost: The cost of creating. Processing, distributing, storing and retrieving paper-based information has saved.
Mass customization: E-commerce allow the product and services to be customized as per customer requirements.
Reduced inventories and overheads by facilitating “Pull” type supply chain Management: This is based on collecting the customer order and then delivering through JIT (Just-In-Time) manufacturing company gather customer order for product, and then transmit them electronically to the manufacturing plant where they are manufactured according to the customer specifications and the sent to the customer within a few day.
Lower telecommunication cost: It is cheaper to send the fax or e-mail via internet.
Digitization of products and processes: The software/music/video, product which can be downloaded or e-mail directly to customer through internet or electronic format.
24 hour-time constraints: communication between customer and supplier are done any time.

24/7 Access: E-commerce enable customer to shop or conduct other transactions 24 hours a day, from any location.
More choices: It give customer more choices and customization options for buying order, design, and production.
Price comparisons: customer can conduct comparisons either directly by visiting different sites.
Improved delivery processes: It provide JIT (Just-In-Time) immediate delivery of the product.
Decrease the time and cost: It decrease the time and cost of search and discovery of products.
It reduces the time between outlay of capital and the receipt of product and service.
JIT Production and payment: It provide JIT production and payment, reducing overhead and inventory through increased automation and short processing time.
Decrease Transportation and Labor Cost: It reduce transportation and labor cost of creating process distributing staring and retrieving paper-based info.
It facilitates increase responsiveness to customer.

Disadvantage of E-commerce to Organization: Lack of security, reliability, standard and communication protocols.
The various reports of websites and database may be hacked.
Rapidly evolving and changing technology is difficult to catch up.
It is difficult to develop innovating business models, as per strategies of organization change.
Due to e-commerce international competitive are increased and sometime it is difficult to face increased competition.
The older business system cannot communicate with web-based technology hence problem with compatibility of older and newer technology is occur.

Required new digital computing equipment
Consumer required basic technical knowledge about internet, if no knowledge the consumer cannot use telecommunication net.
The cost for access the internet is high.
The cost of computing equipment is also high
There is no real control of data that is collected over internet hence lack of security and privacy of personal data.
The physical relationship between suppliers’ consumers, partners in replaced by electronic process.
Lack of trust because interaction is faceless.

Breakdown in human interaction.
If new technology is come then disposing (Wasted) resources such as computers, keyboards, Monitor, Speakers and other hardware and software parts.

Internet marketing or online marketing is advertising and marketing effort that use the web and e-mail for sales and purchasing e.g. social media like Facebook, Instagram, email, SEO, content marketing, search engine marketing.
Using social Media, you can market your products and services by sing internet.
By using internet marketing sending a commercial msg to group of people.

Dig.: Internet Marketing.