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    E-Commerce or Electronic Commerce

    Uploaded by

    Ivan Rivera
    E-commerce refers to the buying and selling of goods and services using the internet and digital technologies. It allows for automated inventory management, improved communication and customer support, and increased sales and advertising opportunities for businesses. For customers, it provides convenience, choice, readily available information, and around-the-clock shopping. While it offers many advantages, e-commerce also faces challenges such as infrastructure requirements, high start-up costs, limited interactions, and security concerns. The main models of e-commerce include business-to-business, business-to-consumer, consumer-to-consumer, and several others involving interactions between consumers, businesses, and the government.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    E-Commerce or Electronic Commerce

    Uploaded by

    Ivan Rivera
    37 views6 pages
    E-commerce refers to the buying and selling of goods and services using the internet and digital technologies. It allows for automated inventory management, improved communication and customer support, and increased sales and advertising opportunities for businesses. For customers, it provides convenience, choice, readily available information, and around-the-clock shopping. While it offers many advantages, e-commerce also faces challenges such as infrastructure requirements, high start-up costs, limited interactions, and security concerns. The main models of e-commerce include business-to-business, business-to-consumer, consumer-to-consumer, and several others involving interactions between consumers, businesses, and the government.

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    E-commerce refers to the buying and selling of goods and services using the internet and digital technologies. It allows for automated inventory management, improved communication and customer support, and increased sales and advertising opportunities for businesses. For customers, it provides convenience, choice, readily available information, and around-the-clock shopping. While it offers many advantages, e-commerce also faces challenges such as infrastructure requirements, high start-up costs, limited interactions, and security concerns. The main models of e-commerce include business-to-business, business-to-consumer, consumer-to-consumer, and several others involving interactions between consumers, businesses, and the government.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    37 views6 pages

    E-Commerce or Electronic Commerce

    Uploaded by

    Ivan Rivera
    E-commerce refers to the buying and selling of goods and services using the internet and digital technologies. It allows for automated inventory management, improved communication and customer support, and increased sales and advertising opportunities for businesses. For customers, it provides convenience, choice, readily available information, and around-the-clock shopping. While it offers many advantages, e-commerce also faces challenges such as infrastructure requirements, high start-up costs, limited interactions, and security concerns. The main models of e-commerce include business-to-business, business-to-consumer, consumer-to-consumer, and several others involving interactions between consumers, businesses, and the government.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 6

    E-Commerce or Electronic Commerce

     A methodology of modern business which addresses the needs of business


    organizations, vendors, and customers to reduce costs and improve the quality of
    products while increasing the speed of delivery.
     The process of buying or selling of goods or services using an electronic medium
    such as the Internet.
     This involves the transaction of goods and services, the transfer of funds, and the
    exchange of data.
     E-commerce transactions are governed by Republic Act No. 8792 also known as
    the "Electronic Commerce Act”.

    Features of E-Commerce:
     Automated Inventory Management: Reports get generated when required which
    makes e-commerce efficient.
     Communication Improvement: It provides ways for faster, efficient, and reliable
    communication with customers and partners. It makes exchange of information
    easier.
     Customer Support: It has various ways to provide pre-sales and post-sales
    assistance to customers.
     Improved Sales: Orders can be generated without human intervention that give a
    big boost to existing sales volume.
     Increased Advertising: It helps in better marketing management of
    products/services.
     Non- Cash Payment: The use of credit cards, debit cards, smart cards, electronic
    fund transfer, and other modes of electronics payment.
     Service Availability: It is available anytime and anywhere.

    Advantages of E-Commerce to Organizations:


     E-commerce provides the sellers with a global reach. The barrier of place is
    removed because it isn’t tied to a single geographic location – it’s open and
    available to those who visit it online. So, an organization can easily locate more
    customers, best suppliers, and suitable partners across the globe.
     E- Commerce has lower operational costs and reduces paper works. There is no
    need to hire sales staff or maintain a physical store; the major E-Commerce costs
    go to warehousing, product storage, and shipping.
     E-Commerce increases organization’s productivity. A business process starts
    when a request comes from a customer and it uses just-in-time manufacturing
    way.
     E-Commerce businesses can automate their inventory management. It uses
    electronic tools to accelerate ordering, delivery and payment procedures. It saves
    operational and inventory costs.

    Advantages of E-Commerce to Customers:


     It provides quick delivery of goods with very little effort on part of the customer.  It
    saves time, energy, and effort for both the consumers and the company.
     It provides customers with more options. It enables the customers to compare
    and select better products.
     It provides readily available information. The customer can see the relevant
    detailed information and reviews about the product within seconds.
     It offers convenience and around-the-clock availability. A customer can shop
    anywhere and at any time possible without being constrained by operating hours
    of a traditional store. The website is functional at all times.
     It can also provide personalized experiences. It is possible with the help of
    automation and rich customer profiles. For example, showcasing relevant products
    based on past purchase behavior can make the shopper feel like you truly
    understand him/her as an individual.
     It allows the customer and the business to be in touch directly, without any
    intermediaries. This results to quick communication and transactions.

    Disadvantages of E-Commerce:
     Internet is required. It is not accessible without internet and not everyone has
    access.
     Start-up costs of the e-commerce portal are very high. The setup of the hardware
    and the software, the training cost of employees, the constant maintenance and
    upkeep are all quite expensive.
     The e-commerce industry has a high risk of failure.
     There are limited interactions with customers. Without being face-to-face, it can
    be harder to understand the wants, needs, and concerns of your e-commerce
    customers. Although there are ways to gather this data (survey data, customer
    support interactions, etc.), it does take a bit more work than talking with shoppers
    in person on a day-to-day basis.
     Limited customer service. The site may only provide support during certain
    hours of the day or a call to a customer service phone number may keep the
    customer on hold.
     No ability to test or try-on. E-commerce experience can be limiting for shoppers
    who want to get hands-on with a product Online images can provide a good sense
    about a product but do not necessarily convey the whole story about an item. It is
    different from experiencing it directly. E-commerce can lead to dissatisfaction and
    returns when consumers received products that differ from their expectations.
     Security is another area of concern. Security breach where the information of the
    customers can be stolen is possible. Credit card theft, identity theft, etc. remain big
    concerns with the customers.
     Technology breakdowns can impact ability to sell. If your e-commerce website is
    slow, broken, or unavailable to customers, it means you can’t make any sales. Site
    crashes and technology failures can damage relationships with customers and
    negatively impact your bottom line.
     E-Commerce is not instantaneous. There is a wait time for the product to be
    shipped to the customer’s address.
     Fulfillment problems. Even after the order is placed, there can be problems with
    shipping, delivery, mix-ups etc.

    Types of E-Commerce Models:


    The basis for this simple classification are the parties involved in the transactions.

    1. Business to Business (B2B)


    B2B business model relates to transactions made between business entities,
    such as a manufacturer and a wholesaler or retailer. A website following this model
    sells its products to an intermediate buyer who then sells the product to the final
    customer.
    As an example, a wholesaler places an order from a company's website and after
    receiving the consignment, sells the endproduct to the final customer who comes to buy
    the product at one of its retail outlets.

    2. Business to Consumer (B2C)

    B2C business model encompasses transactions made between a business


    organization and a consumer. A website following this model sells its products directly
    to a customer. The consumer can browse their websites, view the products, and also
    read reviews. The customer can place an order and the website will send a notification to
    the business organization via email.

    3. Consumer to Consumer (C2C)

    C2C business model relates to the sale of products or services between


    consumers. No company is involved. A website following this model helps consumers to
    sell their assets like residential property, cars, motorcycles, electronics, etc., or rent a
    room directly to an interested party by publishing their information on the website.
    4. Consumer to Business (C2B)
    In this model, a consumer approaches a website showing multiple business
    organizations for a particular service. The consumer places an estimate of amount
    he/she wants to spend for a particular service. For example, the comparison of interest
    rates of personal loan/car loan provided by various banks via websites. A business
    organization who fulfills the consumer's requirement within the specified budget,
    approaches the customer and provides its services. A business model like iStockPhoto,
    in which stock photos are available online for purchase directly from different
    photographers or an IT freelancer who demos and sells his software to a company are
    also C2B type of e-commerce.

    5. Consumer to Government (C2G)

    C2G business model refers to transactions conducted online between individual


    consumers and public administration or government bodies. Every time consumers pay
    taxes, health insurance, electronic bills, or request information concerning the public
    sector, they’re engaging in C2G. C2A might include things like online consulting for
    education, online tax preparation, etc. focused on increased efficiency within the
    government via the support of information technology.

    6. Business to Government (B2G)

    B2G business model refers to transactions conducted online between


    companies and public administration or government bodies. Such websites are used
    by governments to trade and exchange information with various business
    organizations. It provides a medium to businesses to submit application forms to the
    government. An example would be the products and services related to legal
    documents, social security, registers, fiscals and employment, etc.

    7. Government to Business (G2B)

    The G2B business model is used by the government to approach business


    organizations. Such websites support auctions, tenders, and application submission
    functionalities. Government procurement, data centres, and e-learning are all
    examples of G2B ecommerce.

    8. Government to Citizen

    The G2C business model websites is used by the government to approach


    citizen in general. It reduces the average time for fulfilling citizen’s requests for various
    government services. Such websites provides services like registration for birth,
    marriage or death certificates. It also support auctions of vehicles, machinery, or any
    other material.

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