Introduction To Electric Commerce

Published Date: 02 Nov 2017

Electronic commerce or e-commerce is a term for any type of business, or commercial transaction that involves the transfer of information on the Internet. It covers a wide range of businesses, from consumer based retail sites, through auction or music sites, business goods and services traded between companies. It is now one of the most important aspects of the Internet to emerge. In addition, the E-commerce is also can divided into some categories that are the business to business, business to consumer, consumer to consumer and so on. E-commerce enables users to electronically exchange goods and services with no barriers of time or distance. Electronic commerce has expanded rapidly over the past five years and is predicted to continue at this rate, or even faster. The E-commerce is very widely that can considered the buying and also selling the products over the internet.

Answer of Question 1

Ecommerce or electric commerce refers to the buying and selling of goods and services via electronic channels, primarily the Internet. E-commerce also can be divided into some categories, business to business (B2B), business to consumer (B2C) and also consumer to consumer (C2C) and so on. Electronic transactions have been around for a long time in the form of Electronic Data Interchange or EDI. EDI requires each supplier and customer to set up a dedicated data link (between them), where e-commerce provides a cost-effective method for companies to establish a number of ad-hoc links. Electronic commerce has also led to the development of electronic marketplaces where suppliers and potential customers are brought together to conduct mutually beneficial trade. There are two main website where customer s can buy things online , amazon.com, ebay.com.

There are seven unique features of e-commerce which called as Ubiquity, Global Reach, Universal Standards, Interactivity, Information Density, Richness, Personalization/Customization. Firstly, Ubiquity. In traditional commerce, a marketplace is a physical place you visit in order to transact. E-commerce is Ubiquitous, means that is it available just about everywhere, all times. Marketplace extended beyond traditional boundaries and removed from a temporal and geographic location. Secondly, Global Reach. E-commerce technology permits commercial transactions to cross cultural and national boundaries far more conveniently and cost effectively than is true in traditional commerce. Most traditional commerce is local or regional. Thirdly, Universal Standards. One strikingly unusual features of e-commerce technologies is that the technical standards of the internet, and therefore the technical stnadards for conducting e-commerce merce. The universal technical standards of e-commerce greatly lower market engry costs. At the same time, for consumers, universal stnadards reduce search costs. With e-commerce technologies, it is possible for the first time in history to easyily find all the suppliers, prices, and delivery terms of a specific product anywhere in the world.

Next , Richness. Richness are complexity and content of a mesasage. The richness of traditional markets makes them a powerful selling or commercial environment. In addition, Interactivity. Unlike any of the commercial technologies of the twentieth century, with the possible exception of the telephone, e-commerce technologies are interactive. Interactivity allows an online. Besides that, Information Density. The internet and the web vastly increase information density. E-commerce technologies reduce information collection, storage, processing and communication costs all the time. Information becomes more plentiful, cheaper and more higher quality. Lastly, Personalization/Customization. E-commerce technologies permit personalization which can target their marketing message to specific, individuals by adjusting the message to a person s name, interests, and past purchases. The technology also always permits customization which are changing the delivered product or service based on a user s preferences or prior behavior. With the increase in information density, a great deal of information about the consumers s past purchases and behavior can be stored and used by online merchants.

In my opinion, Ubiquity is implement well because Doing e-business is cost effective, it reduces the logistics problem, and put a small business on par with giants like Amazon.com or General Motors. In a commercial bank, for example. underlying transaction cost over-the-counter £ 0.50 to process; via the Internet, the same transaction cost about £ 0.01. Every financial transaction eventually turned into electronic processes. It makes the conversion faster, more cost-effective transaction to be. Secondly, E-commerce means better customer service and faster. Online customer service make the customer happy. Instead of calling your company on the phone, web merchants provide online customers directly to their personal accounts. This saves time and money. For companies that do business with other companies, adding online customer service is a competitive advantage. Sending overnight parcel service, which allows customers the tracking number to check the whereabouts of the package online, is a good example. Next, eletronic market improve information sharing between merchants and customers and promote fast, just in time delivery. Facilities for users is a key driver for change in the various industries. Customers and merchants save money, go online 24 hours a day, 7 days a week, do not experience traffic jams, no crowds, and no need to carry heavy shopping bags.

At the same time, some of the feature poorly implement. For example, On the surface, the electronic market seems to be a perfect market, where sellers around the world and share buyers and trade without intermediaries. However, a closer look shows that the new type of mediator is important for e-commerce. They include electronic center which guarantees authenticity. All of these intermediaries adds to transaction costs. In addition, Safety continues to be a problem for online businesses. Customers have to feel confident about the integrity of the payment before they make a purchase.

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Conclusion of question 1

Ability of new market that combines the properties of a medium with global locations will be exploited to redefine many products and markets. Significant is the possibility to provide special products, ever larger segments of the supply chain process of moving to the Internet, branding through bonding to the website and thus to the sponsor, the advantages of a virtual auction, and the possibility to create huge upside market. Tensions between spot transactions efficiency is assisted by the electronic market and the need for long-term relationship of trust and patience, allowing the electronic hierarchy, will continue and calls for a lot of study. Geographical limitations that have been bound from the home to work, and that has been eroded by the growth Telework, can be expected to be more or less binding. In fact, the likehood of the former urban rural area new environment is causing alarm. Some countries that have been marginalized by their geographical position to take a very active interest in the E-commerce as a way to move the virtual geographical center. Redistribution of work to be studied from various perspectives.

Introduction to question 2

Online shopping is the process whereby consumers directly buy goods or services from a seller in real-time, without an intermediary service, over the Internet. It is a form of electronic commerce. An online shop, eshop, e-store, internet shop, webshop, webstore, online store, or virtual store evokes the physical analogy of buying products or services at the retail brick-and-mortar store or shopping center. This process is called Business-to-Consumer (B2C) online shopping. When a company purchases from other business it is called Business-to-Business (B2B) online shopping.

Answer of Question 2

The act of buying products or services over the Internet. Shopping online has grown in popularity over the past few years, mainly because people find it easier and easier to bargain shopping from the comfort of their home or office. One of the most interesting factor about shopping online, especially during the holiday season, it relieves the need to wait in long lines or looking from shop to shop for a particular item. The Internet has revolutionized the way we do our shopping. Because of the advantages and benefits of various online shopping more and more people these days prefer to entire Purchase Online shopping conventionally. There are many reasons why I think buying on the internet is the best option as well.

Firstly, price comparisons. When you visit a store, you most likely have to resolve any vendor prices were placed on special items. Not so with online shopping you have the ability to compare prices from hundreds of different vendors. Another thing that fascinates me is the cheap deals and better prices I get from online stores because the products come to you directly from the manufacturer or seller without middlemen involved. Many online stores offer discount coupons and rebates. Apart from this, the Online Store is only required to collect sales tax if they have a physical location in our country even if we buy from stores across the world.

Secondly, send gifts. Online shopping makes sending gifts to relatives and friends easy, no matter where ever they stay. Now there is no need to make excuses for not spacing send gifts on occasions like Birthday, Wedding Anniversary, Wedding, Valentine's Day, Mother's Day and so many special days.

Thirdly, Crowds. If you want to avoid crowds when you shop. Especially during the festival and special event people could really give a headache. Crowds force us to do a hurried shopping most of the time. For me grumpy or irritating people and those who odor is a big turn off. Many also cause problems when it comes to finding a parking spot near where you want to shop and will be returning to your vehicle then loaded with shopping bags.

Next, Discreet Purchases. some things are better done in privacy. Online stores also best to purchase wisely as toys adult, sexy clothing, and so on. Online stores allow me to buy under garments and clothing without shame that there are some people watching me and my choices. In addition, Fewer Expenses. Many times when we opt for conventional shopping we tend to spend more than shopping expenses required to things like eating out, travel, shopping, and other impulsive.

Besides that, you can buy old things. The stores are always looking to make a profit. They have, or else they can not afford to pay for the care of their stores. They just want to stock what people want, and they get rid of what does not sell anymore. No online stores. You can buy any old items consist of old antique salt and pepper shakers on the old computer software, things like this are hard to find in any ordinary shop today. If you are looking to buy old items, there is no better choice than to do so online.

Moreover, Privacy and security. Privacy and security is a legitimate concern for any online shopper, but there are precautions you can take to ensure your transaction is secure. For example, pay attention to the HTTPS protocol, install the free spyware removal tool, knowing how to identify fraud and deceit online, surf anonymously, and maintains a personal website you guys are a smart way to deal with issues of privacy and security.

The pros, You no longer have to worry about shopping around 12 times and fight through the pain of anger that their relatives were in town to get the spot closest to the entrance. There is no better feeling than winning bids on eBay or get the last one before it sells out. You can shop to occupy yourself when you plugged in a very boring situation that is difficult to escape, such as class, work, or family dinner.

The cons, It is no longer possible to flirt with a cute cashier at deer ears. Models always look better in the clothes you will, because the model is not a real man.

Conclusion of question 2

In conclusion, having access to online shopping has truly changed and influenced our society as a whole. This technology has opened new doors and opportunities that allow for an easier lifestyle today. Diversity, fast service and reduced prices are three important ways in which online shopping affect people from all over the world. However, this concept of online shopping has led to the possibility of fraud and conflict of privacy. Unfortunately, it has been shown that it is possible for criminals to manipulate the system and access the personal information. Fortunately, these days with the latest technology features, steps are being taken to stop hackers and criminals from inappropriate access private databases. Through the privacy policy and security, website designers are doing their best to end this practice is unethical. By doing so, the community will continue to rely on online shopping, which will allow it to remain a great success in the future. I feel that there are pros and cons that we have to weigh when it comes to online shopping. Whether or not one thinks that online shopping has more pros than cons, or vice cersa, it is totally personal. I feel that as long as you take measures before you start clicking away, it is a totally good alternative to physical shopping.

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