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Computer fundamentals E-commerce Introduction • The buying and selling of products and services by businesses and consumers through an electronic medium, without using any paper documents. • E-commerce is widely considered the buying and selling of products over the internet, but any transaction that is completed solely through electronic measures can be considered e-commerce. E-Commerce It’s concerned with systems and business processes that support – 1. Creation of Information Sources 2. Effective and efficient interaction among producers, consumers, intermediaries and sellers 3. Movement of information on global networks The Triangle Of E-commerce 1. Get the Right Customer to your site 2. Make it easy for them to buy from you 3. Take care of them after the sale Traditional Vs. Electronic Commerce • Information Exchange 1. Electronic Catalogs 2. Online Product/Service details 3. Pricing and Customization 4. Quality Comparisons and features information 5. Shipping Modes and Payment terms • Contract and Order 1. Customized Product Specs, Quantity, Price, discounts 2. Final Payment, Delivery and Service Options • Customer Service 1. Direct reach to customer feedback 2. Updates to Customers on newer features and versions 3. Quick tracking and redressing of problems • Marketing 1. Internet based Advertising Mechanisms- Banner, Micro-sites, Email campaigns etc. 2. Data Generated using customer feedback, support, clicks on features, feature selections, and transactions can be used for improved product offerings Electronic Commerce: Benefits • Global Distribution of Information • Expands the Market Reach- beyond Geographic boundaries *Small Business can also access global marketplace *Amazon.com, Ebay.com • Everyone accesses the latest version of product, catalog, information *HP, Cannon etc can provide download for driver software saving • Efficient and quick delivery of information needs of users *IndianRailways.com – Customer check seat availability, trains routes, make reservations online Types Of Business Models In E-commerce • Business-to-consumer (B2C) • Business-to-business (B2B) • Consumer-to-consumer (C2C) • Consumer-to-Business (C2B) Electronic Commerce: B2B • It requires two or more business entities interacting with each other directly or through an intermediary. • The intermediaries in B2B may be the market makers and directory service providers that assist in matching the buyers and sellers and striking a deal. • The business application of B2B electronic commerce can be utilized to facilitate almost all facets of the interactions among organizations, such as Inventory Management, Channel Management, Distribution Management, Order fulfillment and delivery, and payment management. Electronic Commerce: B2C • The two or more entities that interact in this type of transactions involve a business and a consumer. • The businesses offer a set of merchandise at given prices, discounts and shipping and delivery options. • The sellers and consumers both benefit: 1. Through the round the clock shopping 2. Accessibility from any part of the world, 3. Increased opportunity for direct marketing, 4. Customizations and 5. Online customer service. Electronic Commerce: C2B • The transaction originated by the customer have the set of specifications and the required price for a commodity, service or an item. • The business entity is expected to match the requirements of the consumers to the best possible extent. • The Consumer to Business (C2B) enables a consumer to determine the price of a product and/or service offered by a company. • It reduces the bargaining time and increases the flexibility at sales place for both the merchant and the consumer. For Example, PriceLine.com Electronic Commerce: C2C • It promotes opportunity for consumers to transact goods or services to other consumers present on Internet. • The C2C in many a situations models the exchange systems with a modified form of deal making. • For the deal making purposes large virtual consumer trading community is developed. The customer operates by the rules of this community to compete, check and decide his own basic transaction prices. • • Much of the transactions in this category correspond to the small gift items, craft merchandise and similar items that are normally sold through the 'flea' markets or Bazaars. • For Example, Ebay.com, BaaZee.com E-Marketing • E-Marketing or electronic marketing refers to the application of marketing principles and techniques via electronic media and more specifically the Internet. The terms E-Marketing, Internet marketing and online marketing, are frequently interchanged, and can often be considered synonymous. • E-Marketing is the process of marketing a brand using the Internet. It includes both direct response marketing and indirect marketing elements and uses a range of technologies to help connect businesses to their customers. • E-Marketing encompasses all the activities a business conducts via the worldwide web with the aim of attracting new business, retaining current business and developing its brand identity. Why is it important? • When implemented correctly, the return on investment (ROI) from E-Marketing can far exceed that of traditional marketing strategies. • Whether you're a "bricks and mortar" business or a concern operating purely online, the Internet is a force that cannot be ignored. It can be a means to reach literally millions of people every year. It's at the forefront of a redefinition of way businesses interact with their customers. Questions 1. What Do You Mean By E-commerce? 2. Define Different Types Of Business Model In E-commerce? 3. What Is E-marketing? Why It Is Important?
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