Electronic commerce or e-commerce
The full name of E-Commerce is Electronic Commerce. Electronic commerce refers to the online process of exchanging business information, maintaining relationships between sellers and buyers, producing goods or services, marketing, selling, delivering, servicing and paying prices using the Internet. In today's internet age, e-commerce does not mean only buying and selling of goods online or on the internet. On-line product and service delivery excellence, on-line processing development, marketing management expansion and dissemination, global internet e-commerce community formation implies.
Use of electronic commerce: E-commerce requires the use of information technology, telecommunication systems and internet technology. Important uses of e-karmas are--
(i) E-commercemust ensure accurate information, marketing, transaction execution and secure payment settlement procedures for the buyer.
(ii) Trade and business partnerships rely on the Internet and extranets for information exchange.
(iii) secure lanes using electronic data interchange, other supply chain, financial chain systems and databases; completed
(iv) Company employees engaged in communication and information systems use various software in their e-commerce activities.
The main features of e-commerce are as follows:
(i) Universality,
(ii) international standards,
(iii) accessible everywhere,
(iv) Abundance,
(v) interaction,
(vi) personal care,
(vii) Density of information.
Dimension of E-Commerce:
Old or traditional methods of commerce do not require internet. Manufacturing, selling, delivering everything is done traditionally. And e-commerce is completely different. It is done online. For example, one can download books, programs, software, etc. through electronic payment from the web. In this case, digital products are usually selected and ordered through digital processes. Later the actual delivery is given. For example, buying a book or a mobile phone set from the web. Currently, many organizations in Bangladesh are conducting business in e-commerce mode. Notable among them are CellBazar.com, Bikroy.com, Rokomari.com etc.
Types of E-Commerce:
Internet, extranet and intranet technologies are used to connect businesses, consumers and other stakeholders. E-commerce can be mainly divided into four categories on the basis of services and products transacted, namely--
(i) Business to Business
(ii) Business to Consumer
(iii) Business to Consumer
(iv) Consumer to Consumer.
In addition to the above categories, there is an e-commerce called non-business.
(i) Business to Business (B2B): A fundamental aspect of e-commerce is business to business commerce. The traditional method of wholesale buying and selling between two business entities is called business to business.
(ii) Business to Consumer (B2C) : Business to consumer commerce is an important component of e-commerce. Business-to-consumer includes retail and wholesale transactions between one or more buyers and businesses. Business-to-consumer business has grown exponentially since the advent of the Internet.
(iii) Consumer to Business (C2B) : When a consumer directly transacts with another business entity individually, it is called consumer to business or consumer to business. Such transactions fall under the category of consumer-to-business e-commerce.
(iv) Consumer to Consumer (C2C) : In this case a consumer can transact directly with another consumer. A consumer-to-consumer transaction without contact with another business entity is called consumer-to-consumer or consumer.
(v) Non-business e-commerce : Currently many non-business organizations like educational institutions, non-profit organizations, religious institutions, direct agencies are using various types of e-commerce to reduce costs and increase service quality. As these transactions do not have a business purpose, they are called non-business e-commerce.
(vi) Difference between e-commerce and e-business : Differentiating e-business and e-commerce is quite complicated. According to various professionals and academics, there is not much difference between e-business and e-commerce. But James A. Brain, according to Law Gartner (briefly), buying and selling goods online using Internet technology is called e-commerce. According to them, all the internal and external digital technology-based activities of the organization, including e-commerce, are called e-business. E-business involves all types of transactions under the control of organizations over the Internet, intranets, extranets, or other institutional and internal telecommunications networks. On the other hand, e-commerce directly involves all business transactions based on the Internet.
M-Commerce:
Mobile commerce or m-commerce is doing e-business by directly accessing the internet with the help of wireless digital devices and wireless application protocol (Wireless Application Protocol - WAP). M-commerce accesses wireless networks through mobile phones or cell phones and accesses the web through various devices such as tabs. Once connected, various transactions such as stock market, banking, travel reservation and other functions can be completed through m-commerce. M-commerce is most popular in Japan and Europe. Nowadays Business to Government (B2G) e-commerce is being discussed widely. Here the government directly participates in a business or earns money as a third party.
Advantages of E-Commerce
In the era of globalization, e-commerce has brought about an incredible change in the conventional business. Most of the small and big business organizations in the world today are turning to e-commerce by leaving the traditional business methods. Because there are many benefits of e-commerce in business. Following are the advantages of e-commerce --
(1) Cost reduction: In e-commerce, transaction costs are reduced to a large extent as compared to conventional business methods. In the case of e-commerce business, the manager can know the overall status of the business from any part of the world using the internet at a low cost. (b) Increases transaction dynamics 4 Pricing of goods and services is an important step in the e-commerce transaction process. Electronic funds transfer or EFT system can complete financial transactions in less time and with greater speed. On the one hand the trader benefits as well as on the other hand the consumer is also benefited by the speedy transaction.
(2) Reduces cost of conducting business: E-commerce transaction costs are much lower than conventional transaction methods. Commerce system does not require any employee for accounting, as no paper documents are generated here. As a result document preparation cost, personnel cost etc. are reduced in business management.
(3) Marketing benefits: By using internet websites in e-commerce system, businesses are advertising at a low cost, making it easier for people around the world to know about the company.
(4) Reduction of product time: With the help of e-commerce, the customer is getting the benefit of purchasing the product from any place at any time without the need for the customer to physically visit the establishment for purchasing any product. The buyer is taking the order of the product through the internet sitting at home and the supplier is sending the specific product to the buyer's address.
(5) Customer Service: The development of e-commerce has increased the quality of customer service manifold. In addition to the general benefit of the buyer, the seller is also benefiting. Also many other benefits of e-commerce are increasing day by day, such as –
(i) Brief Sectionalization.
(ii) Time and money savings in various internal activities.
(iii) gaining credibility or trust.
(iv) Providing more services at less cost and less time.
(v) Eliminate complications related to money transactions and secure transactions
(vi) Development of relations among business partners etc.
(vii) Faster processing.
Disadvantages of e-commerce
(i) Integration of Internet and e-commerce software is often not possible.
(ii) Sales often use dedicated web servers, which are not always available.
(iii) Lack of security in financial transactions.
(v) Buyers and sellers may not trust e-commerce activities at times.
(vi) But there are daily consumables, for which there is a problem of timely supply when the order becomes excessive.
(vi) Lack of skilled manpower poses problems in conducting business in e-commerce mode.
(v) - In many cases initial costs are high and lack of experience leads to delays in getting products and services.
E-mail marketing and online marketing or internet marketing
E-mail Marketing: Marketing through e-mail, one of the direct marketing is e-mail marketing. Electronic mail is used as a medium of communication in this case. E-mail is used to maintain sincere business relationship with current or previous customers. It is even used to attract new customers or convince current customers to buy something new. Advertising in the mail sent by other companies to their customers is also a common strategy. A huge amount of money is spent on e-mail marketing around the world.
The reasons for the popularity of e-mail marketing are that it is relatively inexpensive and can be quickly disseminated to a large number of potential customers. Investment success can be highly monitored. And so e-mail marketing is considered the most important after search marketing when it comes to online marketing. E-mail messages are easily accessible for future use. It is even easier to make future business plans depending on the replies to the messages. Disadvantages of e-mail marketing One of the disadvantages of spam messages is. Real with the help of spam messages
Fraudulent customers with company names have emerged as a challenge to real companies and e-mail marketing as a whole. Nowadays, the use of SPAN filters has become inevitable to protect against spam mail attacks. However, this method is not completely free of problems, in which case it is often seen that even legitimate mails are mistakenly filtered as spam mails. But this happens very rarely.
Online Marketing or Internet Marketing: Internet marketing is also known as web marketing, online marketing, or e-marketing. Internet marketing is the delivery of products or services over the Internet. The Internet has brought several unique advantages to the world of marketing. One of them is to reach a large number of people at a low cost and in a very short time. Internet marketing is a perfect blend of creativity and technology. Internet marketing is not limited to writing on a website, or advertising on another website, it also focuses on making certain plans of the company come to fruition. Internet marketing is associated with various business models such as e-commerce, publishing etc.
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