Electronic commerce means the online processing, development, marketing, sale, delivery, servicing and payment of products and services traded on the Internet with the help of global networks of trading partners.
Electronic commerce uses a wide range of technologies such as electronic data interchange (EDI), email, and electronic funds transfer (EFT).
The e-commerce process includes the following business activities.
o Pre-sale and post-sale support
o Internal email and messaging
o Online publication of corporate documents and forms
o Advertising and promotion of products and services
E-commerce has 3 broad categories:
o Business to Consumer (B2C)
o Business to business (B2B)
o Consumer to Consumer (C2C)
Business to consumer:
B2C is a popular form of electronic commerce. There is a virtual store for the customer through which they can browse and order products. In such an environment, the consumer thinks of himself as a real-world shopping experience. One of the examples of B2C includes
http://www.amazon.com
http://sentimentexpress.com
Business to business:
If someone asks Catalyst for the extranet, then B2B comes first because B2B involves e-commerce venues and direct business-to-business links. An example of B2B is a company that uses a network to place orders with its suppliers, receive invoices, and receive payments.
Consumer to Consumer:
This category is, in fact, a strategy used by large companies to sell products through auctions. The familiar example is e-bay.
Problems in the e-commerce business:
There are so many confusions and problems in e-commerce, but the most important one is the issue of security or privacy. Fear of corporate disruption, theft of personal identities have led to a cautious approach in e-commerce business.
Emerging security technologies and services, such as certification of advanced encryption techniques and digital signatures, are having a significant impact on e-commerce and user trust.
Today’s topic of Ecommerce:
The most important issues in electronic commerce today include globalization and quality control.
Globalization:
The important question that arises in the mind of the business community today is how do companies in different continents become aware of their existence and the products on offer?
How can a company acquire the business traditions and conventions of some country on the other side of the world?
Quality assurance:
In any business, uncertainty about product quality can lead to market collapse. Consumers often prefer to inspect products before purchasing rather than looking at pictures or reading descriptions.
Conclusion:
The e-commerce revolution is in full swing. ‘Dot.com’ start-ups are springing up daily and large corporations are developing new departments and hiring new staff to meet anticipated demand.
Electronic commerce is global in both concept and realization. The impact of electronic commerce will be widespread in society. E-commerce offers the possibility of breaking down changes. It’s only a matter of time before eCommerce becomes an obvious part of our lives.