WHAT IS E-COMMERCE ?
Business and Trade is developing into a cross border phenomenon on a large scale, breaking down barriers in terms of time, formalities and convenience. E-Commerce (Electronic Commerce) means buying and selling of goods or services (banking included) through the Internet. By automating the whole process of business including online exhibition of products, taking an order, purchasing and till its actual delivery to the end consumer, businesses are able to react faster to customer demands and keep market uncertainties to the barest minimum. This leads to a higher business turnover over a large customer base resulting in higher income and profits. What are the uses of E-Commerce ? The uses of E-Commerce are — lower purchasing costs. — Reduction in quantity of inventory — More efficient and effective customer service. — Lower sales/marketing costs — New sales opportunities. What are different types of E – Commerce ? (1) B2C (Business to Consumer) In this type, businesses directly sell to the end consumer and is also referred as E- tailing or as ‘Virtual Storefronts’ on the web sites. It offers scope for 24 hour direct retail shopping and global reach providing customer information and ordering. (2) B2B (Business to Business) This medium includes buying and selling of products and services between business organizations through the net. (3) C2C (Consumer to Consumer) It includes business where consumer themselves deal with other consumer for buying and selling goods and products which may include rare, special category or second hand goods. The most important of such sites are the auction sites, which let any one to list anything for sale so that everyone visiting that site can bid for it.
doc_128545266.doc
Business and Trade is developing into a cross border phenomenon on a large scale, breaking down barriers in terms of time, formalities and convenience. E-Commerce (Electronic Commerce) means buying and selling of goods or services (banking included) through the Internet. By automating the whole process of business including online exhibition of products, taking an order, purchasing and till its actual delivery to the end consumer, businesses are able to react faster to customer demands and keep market uncertainties to the barest minimum. This leads to a higher business turnover over a large customer base resulting in higher income and profits. What are the uses of E-Commerce ? The uses of E-Commerce are — lower purchasing costs. — Reduction in quantity of inventory — More efficient and effective customer service. — Lower sales/marketing costs — New sales opportunities. What are different types of E – Commerce ? (1) B2C (Business to Consumer) In this type, businesses directly sell to the end consumer and is also referred as E- tailing or as ‘Virtual Storefronts’ on the web sites. It offers scope for 24 hour direct retail shopping and global reach providing customer information and ordering. (2) B2B (Business to Business) This medium includes buying and selling of products and services between business organizations through the net. (3) C2C (Consumer to Consumer) It includes business where consumer themselves deal with other consumer for buying and selling goods and products which may include rare, special category or second hand goods. The most important of such sites are the auction sites, which let any one to list anything for sale so that everyone visiting that site can bid for it.
doc_128545266.doc