The various objectives of the e-commerce can be laid down as follows: The business development can be done through the e-commerce being the primary and the basic object. E-Commerce is Good for the Environment: Saving Fuel By Not Driving. It also allows companies to record the relevant details of each pallet, parcel, and item being shipped. E-Commerce is Technology-Enabled: Traditional commerce is taking place since times immemorial but E-commerce is result of integration of digital technology with business processes and commercial transactions. 3. Building customer profiles as well as collecting data on certain groups of customers, can be used as a source of information for improving products or designing new ones. vi. All of these forms of internet based business platforms are known as e-commerce. E-commerce means using the Internet and the web for business transactions and/or commercial transactions, which typically involve the exchange of value (e.g., money) across organizational or individual boundaries in return for products and services. The following precautionary steps might prove to be helpful: Most notable are the advances in identification and elimination of non-genuine users. Customer to Business or C2B refers to E-Commerce activities, which use reverse pricing models where the customer determines the price of the product or services. E-commerce technology ensures two way communications between buyer and seller. If the product is downloadable such as music, e-book etc., the website must also provide for that after accepting payment from customer. After the sale, customers might have queries related to the usage, repair or enhancement of the products or services that they have already purchased. E-Commerce facilitates fundamentally the movement of goods from suppliers to customers. Unchecked, they can potentially cripple the entire system. As all the information is furnished to the customer, it becomes easy to him to choose the best product among all other alternatives. E-commerce security is protection the various e-commerce assets from unauthorized access, its use, or modification. They provide a platform which facilitates collaboration and exchange between various individuals. The growth and acceptance of credit cards, automated teller machines (ATM) and telephone banking in the 1980s were also forms of electronic commerce. Next Page . The issue of tackling viruses and their like has also seen rapid development with anti-virus vendors releasing strong anti-viruses. In 1979, the American National Standards Institute developed ASC X12 as a universal standard for businesses to share documents through electronic networks. Along with physical retail, e-commerce is transforming supply chain management practices among businesses, as distribution channels become increasingly digitized. The Internet is a global web of computer networks that has made instantaneous and decentralised global communication possible. E-commerce companies have a responsibility to take care of the environment. Broadly, promotional activities can be classified into two categories: Online promotion is concerned with submitting your site to search engine. (ii) Information – Customers can find reams of comparative information about companies, products, competitors and prices without leaving their office or home. There are nearly 200 million Internet users worldwide currently. Identity thefts Hackers often gain access to sensitive information like user accounts, user details, addresses, confidential personal information etc. Brand loyalty is related to this issue, which is supposed to be less impor­tant for online firms. E-commerce also known as Electronic Commerce, refers to buying and selling of products or services over the Internet.Normally e-commerce is used to refer to the sale of physical products online, but it can also describe any kind of commercial transaction that is facilitated through the internet. 1. Digital marketing is a subset of marketing that is used to promote a brand or product using one or more electronic technologies. (vi) Relatively Building – On-line marketers can dialogue with consumers and learn from them. The customers also get benefited from the fact that he/she does not need to physically visit the shop for making the purchase. Some of the important issues before the organizational management are explained as follows: Management has to develop e-commerce strategy based on the analysis of industry and competition. If commerce is a transaction of physically buying or selling goods, e-commerce is its electronic counterpart – selling and buying online. There are no physical market places and the entire process of marketing and selling of goods, takes place on-line or electronically. This is the opposite of the traditional commerce model of B2C. E-commerce is powered by the internet, where customers can access an online store to browse through, and place orders for products or services via their own devices. How e-commerce conquered England. Consumer Search is not Efficient or Cost-Effective: On the surface, the electronic marketplace seems to be a perfect market, where worldwide sellers and buyers share and trade without intermediaries. These business transactions occur either as business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer or consumer-to-business. Imagine a website called furniture, com or living.com, where venture capitalists are investing millions in selling home furnishings online. Customers can access online banking services by using electronic devices like personal computer, laptop, palmtop, ATM, kiosks etc. These programmes restrict access to and from the system to pre-checked users/access points. The firewall prohibits hackers from entering corporate network via internet. Then e-commerce division communicates the vision of top management throughout the organization and annual objectives are identified. Ultimately, web sites can provide a universal, self-service system for customers. A few positive and negative signs are emerging. Marketers can download useful reports or a free demo of their softwares. A customer’s transportation costs and performance can be analysed, thus helping the customer negotiate rates and improve service. As their direct contact in between the company and the consumer, their business relationship will be enhanced. E-commerce (electronic commerce) is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet. M-commerce includes mobile shopping, mobile banking and mobile payments. Customer’s convenience is greatly enhanced, availability of products and services is much greater, and cheaper products are offered. It is not always a direct message of persuasion but rather it is something which will educate the customers and convince them to buy the product or service. Customers do not often get to check the actual dimensions of the products and the quality displayed there. Threats to the system Viruses, worms, Trojans are very deceptive methods of stealing information. Factors affecting E-Commerce /Key Drivers of E-commerce/ Forces fuelling E-commerce There are many external environmental factors that can affect e- business. The customers are free to make their own decisions regarding the purchase, at their own leisure time. Business-to-business-to-consumer (B2B2C) e-commerce is a business model that involves selling a product or service to businesses and consumers simultaneously. E-tailing refers to retailing over the internet. If products get damaged or stop functioning after a while, or a wrong product is delivered—the ecommerce seller must ensure the flow of products in the reverse direction—known as reverse logistics—where goods flow from customer to the seller. Payment Card Industry (PCI) Security Standards Council, Android instant apps work in an e-commerce environment, The future of e-commerce and CRM: What to watch, 5 CX improvements e-commerce brands have to make this year to remain competitive, E-commerce packaging waste becoming a bigger issue, Pandemic e-commerce trends point to massive growth, Agile retailers reimagine support as tickets reach record highs, Prioritizing fast responses with live channels, Booz&Co: M-Commerce Comes of Age. A few examples of e-commerce marketplace platforms include: Vendors offering e-commerce platform services for clients hosting their own online store sites include: In the United States, the Federal Trade Commission (FTC) and the Payment Card Industry (PCI) Security Standards Council are among the primary agencies that regulate e-commerce activities. 5. Examples of E-commerce include on-line shopping, electronic payments, on- line auctions, internet banking, on-line ticketing etc. ... To demonstrate the concept in a brick-and-mortar environment, think of a retailer that stocks items that they make, but also stocks products from other manufacturers. The nature of work and employment will be transformed in the digital age; it is already happening before our eyes. He/she can then have the order delivered to an address other than the one listed on the records. In developing countries cost may exceed benefits in initial years of e-commerce initiatives. The pandemic has rapidly accelerated the adoption of telehealth services and with these best practices, clinics and medical ... Gartner's annual ranking of healthcare supply chain organizations highlights innovative processes and fast thinking. Buying and selling take place through websites in E-Commerce. The study of following factors show the need for E-Commerce in modern business era: 1. Our mission is to provide an online platform to help students to discuss anything and everything about Economics. Users can surf the Internet and experience fully integrated text, graphics, images and sound. Businesses can supply these electronically. 07.07.2017; Online sales; With online shopping becoming ever more popular and convenient, more and more industries are flourishing in the world of e-commerce. The availability of product details, catalogues, and other information about a business through its web­site makes it vulnerable to access by the competition. 3. According to a report, small retailers that go head-to-head with e-commerce giants are fighting losing battle. In 1990 Tim Berners-Lee invented the World Wide Web and transformed an academic telecommunication network into a worldwide everyman everyday communication system called internet/www(dot)Commercial enterprise on the Internet was strictly prohibited until 1991. Previous Page. By using e-commerce, companies can reduce costs, improve data accuracy, streamline business processes, accelerate business cycles, and enhance customer service. Other e-commerce platforms may come in the form of open source platforms that require a hosting environment (cloud or on premises), complete manual implementation and maintenance. It includes implementation of ICT based system to store, access, manage and disseminate the environmental data and information. Here we discuss the social and economic impact of e-Commerce on society, and the main advantages and disadvantages. E-commerce embodies the spirit of convenience. Social Media Marketing – This form of marketing means promoting company’s products and service on social media handles like Facebook, Twitter and. 5. So, management needs to incorporate the impact of e-commerce on its human resource management practices. Digital marketing is not suitable for marketing of industrial goods and pharmaceutical products making it useful for only specific categories of products, namely consumer goods. So as we look to the future of our industry, we cannot be blinded by potential profit margins and must keep in mind the environmental future of the country and world we love. vii. E-commerce and the Environment. After the number of individual users sharing electronic documents with each other grew in the 1980s, the rise of eBay and Amazon in the 1990s revolutionized the e-commerce industry. 1. In addition, carrier comparison and assignment allows for instant access to a database containing the latest rates, discounts, and allowances for most of major carriers, thus eliminating the need for unwieldy charts and tables. E-commerce saves trips to the mall, cutting down on gasoline used and pollutants emitted, so conventional wisdom suggests a burgeoning digital economy must mean big benefits for the environment. Trade. Here we focus on digitally enabled commercial transactions among organizations and individuals. Hence, e-tailing is a subset of e-commerce, which encapsulates all “commerce” conducted via the Internet. Nevertheless, electronic cash is certain to come soon and it will change the manner in which payments are being made. This is to make sure that store inventory and customer funds are sufficient for the order to be processed. In the last decade, widespread use of e-commerce platforms such as Amazon and eBay has contributed to substantial growth in online retail. The Internet could end up like EDI without the emergence of the World Wide Web in 1990s. Platforms like BigCommerce offer the powerful ecommerce features, while also integrating with common business tools — enabling businesses to centralize their operations and run their business their way. The power of digital marketing is phenomenal. But there are caveats to this,” she warns. They may also create and submit bills of lading, place a cargo order, analyse charges, submit a freight claim, and carry out many other functions. The first recorded Business to consumer was Gateshead SIS/Tesco in 1984. January 28, 2018 at 12:20 PM. the UK, Germany and Denmark), more than 80% of internet users shopped online last year (European Commission). The web sites they create are easily understood by the visitors. Company that have advertising budget can promote the site by placing banner ads at popular websites and portals. For instance, the structure of the organizational unit dealing with E- commerce might have to be different from the conventional sales and marketing departments. Customers might get addicted to on-line shopping, which in turn boost sales and increase revenue. The idea of extracting business intelligence from the website is called web framing. E-commerce platform options exist for clients ranging in size from small businesses to large enterprises. Benefits of e-commerce include its around-the-clock availability, the speed of access, the wide availability of goods and services for the consumer, easy accessibility and international reach. An example of this is peer auction giant, E Bay. These were both introduced in the late 1970s, allowing businesses to send commercial documents like purchase orders or invoices electronically. It is more cost effective when compared to the traditional forms of advertising. Besides this, understanding of consumer behaviour, marketing tools and financial aspects is as crucial as designing interactive E- Commerce websites. Exporters can also make enquiries about suitable customers. There have been cases when vital information like credit card numbers are stolen by hackers. In simple words, you can say that using the internet for unfair means with an intention of stealing, fraud and security breach. 2 They can initiate requests for advertising and information from manufacturers. Affiliate Marketing – It is a kind of referral marketing where reference of any product will be provided on the other websites and when the customer buy’s the product based on the recommendation this website owner with gets commission. Online auctions and classified advertisements are two examples of C2C platforms, with eBay and Craigslist being two of the most popular of these platforms. Although the Internet became popular worldwide around 1994 when the first internet online shopping started, it took about five years to introduce security protocols and DSL allowing continual connection to the Internet. The term ecommerce also encompasses other activities including online auctions, internet banking, payment gateways, and online ticketing. It's important to thoroughly evaluate facilities, pricing and contract terms before choosing a colocation provider. The Web users and content were almost doubled every a couple of months in 1995 and 1996. Collaborate to Succeed, Small businesses compete in e-commerce with same day shipping, Top cloud compliance standards and how to use them, HHS proposes changes to HIPAA privacy rule, 7 free GRC tools every compliance professional should know about, 5 best practices to consider when implementing telehealth, Healthcare supply chains recognized for COVID-19 resilience. Everything you need to know about the E- Commerce. Therefore management needs to set up some kind of intrusion detection system an establish security policy. For example, the computer software is directly downloaded by the software manufacturer on computer of the customer. Environmental impacts of e-Commerce Too early to tell. The aim is always to take better decisions for the firm’s progress. Corporatized retail- brick-and-mortar. Essentials and Procedures 11. Faster Information- The information superhighway permits speedy exchange of data across the world, which also means new information, is available faster. People can now shop online in the privacy of their own homes without ever having to leave. Digital marketing techniques include Search Engine Optimization (SEO), Search Engine Marketing (SEM), content marketing, e-commerce marketing, social media marketing, display advertisement, marketing through SMS and on-hold mobile ring tones, etc. In the past, you’d have to hop in your car every time you wanted to buy something. Privacy Policy3. The result has been the emergence of new business-to business supply chains that are consumer- focused rather than product-focused. Costs associated with e-commerce includes costs of hardware like PC clients, web servers, transaction servers routers and other networking devices, leased line and software like operating system, firewall, application software, web server software and transaction processing software, cost of recruiting and training staff for e-commerce etc. Technology and Organizational Learning: Rapid progress in e-commerce will force companies to adapt quickly to the new technology and offer them an opportunity to experiment with new products, services, and processes. However, e-tailing shops need to have a strong distribution network in order to secure the delivery of the products. It is when businesses sell products, services or information directly to consumers. An e-commerce platform is a tool that is used to manage an e-commerce business. 2. This gives instant shipping information access to anyone in the company, from any location. E-commerce is a means of conducting business, where the buying or selling of goods and services or the transmitting of funds or data, occur via electronic medium. E-Advertising is the mechanism of promoting products or services on-line. These intermediary websites work as a platform between consumers and business suppliers. Now, you can sit in the comfort of your home and have products and services delivered to your doorstep with the click of a button. The results are often easily measurable and quickly obtained. It means company’s own staff build e-commerce enabled website. The perceived disadvantages of e-commerce include sometimes limited customer service, consumers not being able to see or touch a product prior to purchase and the wait time for product shipping. “Each situation is unique, so you can never really say e-commerce is always better for the environment.” B2A services have grown considerably in recent years as investments have been made in e-government capabilities. Using the Internet for e-commerce will allow customers to access rate information, place delivery orders, track shipments and pay freight bills. It is the process of gaining attention of the customers, through the digital media. E-Commerce has pertain key features which are explained as follows: Feature # 1. Global: E-Commerce's Impact on the Environment Overview, January 2020 Global: Retail E-Commerce Sales, in USD trillion and in Share of Total Retail Sales, in %, 2017-2023f Customers define what information they need, what products or services they are interested in and what prices they are willing to pay. The pricing, in E-tailing shops, is generally lower than that of a traditional shop. Customers are also the business and C2C enables customers to directly deal with each other. (b) Pop Up Advertising – It pops up a new screen upon clicking on a certain link on the web site, that it advertises the product. Therefore, you can see how your local e-commerce changes (modules, data actions, and themes) will be rendered before you upload the configuration package to a live environment. viii. In some cases, it can also force smaller businesses to shut their doors, or change to being completely online. Traditional companies such as Intel, Disney, Dell, and Cisco use their web activities to affirm their corporate identity and brand image. E-advertising also enables you to target the specific customers. (c) Floating Advertising – The floating e-advertising is a kind of a floating banner on the web site, which tempts the visitor to click on it. The e-Commerce 2.0 environment is built upon many interrelated systems and processes that require information to be exchanged dynamically. Advertisements. Company management can also outsource this task to some third party, normally an experienced web development firm. Such changes may redefine organizations’ missions and the manner in which they operate. The privacy labels on new apps and updates on the App Store have to list the data collected by developers and their partners. To stop this problem from happening, a website must be scalable, or upgradable on a regular basis. It is often similar to television commercials. These transactions are generally conducted through a third party that provides an online platform on which the transactions are carried out. E-tailers can be pure play businesses like amazon(dot)com or businesses that have evolved from a legacy business, Tesco(dot)com. How e-commerce is changing us and our planet. On top of eliminating the need for long lines at physical stores, e-commerce sites allow people who are not situated in major urban areas access to stores located remotely. New forms of marketing will also emerge, such as web-based advertising, linked advertising, direct e-mail, and an increased emphasis on relationship marketing. Article Marketing – Writing articles about products and services often helps in the process of educating the customers. What is a payment gate-way also discuss how does it Works. Types 7. INTRODUCTION Due to vast and fast development of e-commerce, companies and businesses are paying so much attention to the production of low cost products. Managing Ethical, Cultural and Legal Issues: There exist big ethical and cultural differences between countries. In E-commerce buyers and sellers meet in cyber space rather than physical place. E-commerce sales have increased dramatically by around 15% per year in the EU over recent years (E-commerce Europe). E-commerce provides the following main advantages: (i) Convenience – Customers can order products or services 24 hours a day wherever they are. E-commerce requires special finance and accounting systems. This attracts hackers, crackers and everyone with the knowledge of exploiting loopholes in a system. An example of the impact e-commerce has had on physical retail is the post-Thanksgiving Black Friday and Cyber Monday shopping days in the United States. (viii) On-line Marketing – It is easy affordable by small firms, who otherwise would not have been able to advertise in the print or broad cost media. E-environment is simply defined as the use and promote information and communication technology (ICT) as an instrument for environment and sustainable use of resources. This can force larger brick and mortar retailers to open an online division. Originally, electronic commerce meant the facilitation of commercial transactions electronically, using technology such as Electronic Data Interchange (EDI) and Electronic Funds Transfer (EFT). Organizations need to monitor its macro environment and make necessary changes as to remain competitive and profitable. Reply. The major different types of E-Commerce are: 1. Business to Business or B2B refers to E-Commerce activities between businesses. Industries can purchase raw materials, components etc. The Web became a popular mainstream medium (perceived as the fourth mainstream medium in addition to print, radio and TV) in a speed which had never been seen before. E-commerce is also can do business it can provide a new way to companies of all sizes to create new relationships and extended relational operations on the basis of the now, website and network activity. E-commerce is conducted using a variety of applications, such as email, online catalogs and shopping carts, Electronic Data Interchange (EDI), the File Transfer Protocol, web services and mobile devices. E-commerce operates digitally. Creating and maintaining an e-tailing web site is an expensive process. E-commerce allows for new products to be created and existing products to be customized in innovative ways. Platforms that host e-commerce transactions may include online marketplaces that sellers simply sign up for, such as Amazon.com; software as a service (SaaS) tools that allow customers to 'rent' online store infrastructures; or open source tools for companies to use in-house development to manage. 1. The e-Commerce 2.0 environment is built upon many interrelated systems and processes that require information to be exchanged dynamically. The goal is to influence target consumers in taking action. Vi­ruses cause unnecessary delays, file backups, storage problems, and other similar difficulties. Objectives 5. Your company and the services that you provide get quick and wide exposure, within blink of an eye. On one hand by using E- commerce firms can communicate with customers through E-commerce enabled websites. Banks such as ICICI Bank, HDFC Bank, State Bank of India have added secure payment gateways to process online bank­ing transactions quickly and safely. 6. The users need to pay an Internet provider-to be hooked up to it through their computers. Here we focus on digitally enabled commercial transactions among organizations and individuals. There is no guarantee of supplying an error-free product. v. Customer Service – Customer service can be greatly enhanced by enabling customers to find detailed information online. Together, these indicators can give policymakers and others a view of the e-commerce environment in their countries and across regions. This website includes study notes, research papers, essays, articles and other allied information submitted by visitors like YOU. Users can send e-mail, exchange views, shop for products, and access news and business information. The main purpose of e-advertising is to reach out to a wider range of customers. Inter-Disciplinary in Nature: Implementation of E-Commerce needs a lot of knowledge of managerial, technological, social and legal issues. Especially when applied to business-to business relations, electronic technologies can lead to rationalisation of business processes and cost savings. In addition, e-commerce allows customers to track shipments down to the individual product and perform other supply chain management and decision support functions. E-commerce is sweeping the world and will undoubtedly be a dominant force in years to come. 2. One study cited in the report suggests that online shopping may have a lower carbon footprint than traditional in-store shopping because of more efficient logistics. E-tailing involves business-to-business or business-to-customers transactions. After a while, statistical analysis determines whether visitors to the site are one-time or recurring customers. The danger of hackers accessing files and corrupting accounts adds more stress to an already complex operation. Social Media Marketing – This form of marketing means promoting company’s products and service on social media handles like Facebook, Twitter and Instagram – It is cost-effective because these platforms allow business to create profiles for free. Here are a few considerations. Because eBay is a business, this form of e-commerce could also be called C2B2C -- consumer-to-business-to-consumer. It provides a competitive advantage as well as increases the overall demand for certain products and services. There are various types of e-advertising: (a) Wallpaper Advertising – It changes the background of the web site to the chosen promotion. Start my free, unlimited access. Electronic Completion of Business Processes: Business Applications: Sale, Purchase of Goods, Real Estate Market, Online Banking, Delivery of Goods, Import and Export, E-Tailing and a Few Others, Channels: Commercial Channels and The Internet, 6. Security continues to be a problem for online businesses. 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