E-commerce

E-commerce or electronic commerce is the buying and selling of products or service over the internet or any other electronic media.It includes electronic fund transfer,internet marketing,online transaction processing etc..Modern e-commerce is typically bound to the internet.Though it may encompass many other methods like telephonic booking, it uses the internet at least in one point of time.E-commerce, the idea of online shopping was first put forth by Micheal Aldrich in 1979.He had connected a modified domestic TV to a real-time transaction processing computer via a domestic telephone line.Later in 1990,when Tim Berners-Lee invented the world wide web, e-commerce has got a scope to expand itself. Amazon.com which was first launched in 1995 by Jeff Bezos is the first online shopping site open 24*7.Today,there are umpteen number of e-commerce sites.While some are pure click websites like amazon, cleartrip, flipkart etc. , some are termed as brick & click websites.A pure click site is one that is established online directly without a base firm.Sites like e-bay , amazon are some of the examples.There are also few firms which obtain name & fame and then launch an e-commerce site to avail online facilities to the customers.

To the average web surfer, e-commerce means online shopping. Internet surfers go on the web purchasing anything from books to baseball tickets. E-commerce is the exchange of business information between two or more organizations. An example of this would be buying and selling products or services over the Internet.

Some of the features of e commerce process are:

It is time saving, delivery is done at a faster rate,reduces the cost of transportation.

There is no time constraint.

Consumer can easily compare pice and product effectively and efficiently.

Consumer interaction with the company directly is also improved by quick feedback and comment forms.

E commerce refers to better and quick customer services. Due to the absence of intermediaries, buying procedure is generally quicker.

E commerce is also boosted by electronic fund transfer throughout the world.

Because of all these features the e commerce industry in india has flourished at a high rate.

According to the data given in this chart, the internet users in india is increasing year by year and in 2012 the number of internet users were 150 million. These show that the use of internet in on a high among Indian masses.India has 13% of internet users in Asia and 7.36% that of the world. 70% of people who know computer have used internet which is a healthy sign.

Shopping on the Internet is convenient as there is no time restriction, it is comfortable since it is in a user friendly environment and there is also an instant satisfaction of ordering, paying and delivering. A one-to-one basis, as well as, a two way communication with customers through the Internet is possible. Enhancing brand image, creating awareness and providing customer service are more important than just selling the products or entertaining customers. With better technologies, companies can create a stronger brand image and thus increase sales. On the other side, it is easier for customers to receive a kind of acknowledgement; feeling that they did not waste their time . Nowadays, people live a busy life and shopping online is time consuming for them. The company also saves time since whenever a customer uses his/her credit card to purchase a product.E-marketing is seen as a promotional as well as informational tool. This new era of commerce is beneficial for marketing logistics, a global presence, to establish and maintain a competitive edge, shorten components of supply chains, for cost savings and research advantage in india.

The companies like ebay,myntra,flipkart,quikr,olx are some of the companies which have established their name in the indian e commerce market. All these sites are selling varieties of products,movies tickets,electronic gadgets,accessories,household items and much more. Now the stock exchange has also become online now. Delivery of goods to consumers by couriers at a faster rate,moreover the quality of product delivered is satisfactory.Many indian banks are also using internet banking facilities.

India’s economic industry is on a growth curve and is undergoing a spurt in growth.The Online Travel Industry is one of the biggest segment in ecommerce in india and is booming due largely to the Internet-savvy urban population. The online travel industry inclused some private firms such as Makemytrip, Cleartrip and Yatra. The government has also started IRCTC, which is a successful Indian Railways initiative. The online classifieds segment is also increasing. It is broadly divided into three sectors; Jobs, Matrimonial and Real Estate. Mobile Commerce is also growing rapidly and proving to be a stable and secure supplement to eCommerce due to the record growth in mobile user base in India, in recent years.

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Today, most corporations are characterized with online survival as it has become inevitable in the modern world. Electronic deals have been popular for quite some time in the form of Electronic Data Interchange.

Types of E-commerce

E-commerce has various categories. There are six major divisions of e-commerce, i.e. Business to Business (B2B) that is an e-commerce category, which entails all electronic transactions of goods and services conducted among businesses (Fernandes, 2014). Manufacturers and traditional commerce wholesalers stereotypically function using this category of e-commerce.

Business to Consumer (B2C) is an e-commerce platform that is popular for its formation of electronic business associations between commercial and eventual clients. It tallies to the merchandizing segment of electronic commerce, where customary retail trade usually functions. Business to Consumer affiliations are not only easier and more vibrant, but also more intermittent (Fernandes, 2014). This brand of commerce has grown progressively due to the emergence of a network, and the existing copious computer-generated outlets on the Internet, which sells all kinds of end user merchandises and services such as computers, footwear, books, vehicles, foodstuffs, monetary merchandises, digital periodicals, etc. The shoppers usually have access to more gen provided about informative content compared to shopping in the old-fashioned market (Fernandes, 2014). There is also a universal concept that buying via the internet is relatively cheaper, and it does not put in danger a personalized customer service. Business to Consumer e-commerce further warrants a quick processing and delivery of products.

Consumer to Consumer (C2C) e-commerce is a type that includes all electronic transactions of goods and services carried out by users (Laudon & Laudon, 2010). As a rule, such deals are made by the third parties. E-commerce provides an online platform specifically where these transactions will be carried out.

Consumer to Business (C2B) is an e-commerce category that offers a complete reverse of the traditional approach to buying and selling of goods and services. This form of e-commerce is commonly used in a multitude of funded projects (Laudon & Laudon, 2010). A wide range of people make their products available for procurement to companies precisely seeking the products they are offering. The key illustrations of C2B deals include the websites where inventers provide numerous suggestions for a corporation insignia. Eventually, just one emblem is chosen and efficiently procured. Another platform is the arcades that trade free royalty pictures, imageries, and designs (Fernandes, 2014).

Business to Administration (B2A) is the type of e-commerce that embraces all online transactions carried out by corporations and public administration (Fernandes, 2014). B2A e-commerce provides significant services in such areas as the pecuniary sector, societal security, business operations, lawful documents, catalogues, etc. This e-commerce platform has grown briskly over the years with significant investments made in the e-government.

Consumer to Administration (C2A) is an e-commerce platform that embroils all automated businesses owned by individuals and the government (Laudon & Laudon, 2010). The Consumer to Administration contracts include educational applications that involve the dissemination of information over the internet and distance learning that allows students from all over the world to gain knowledge in different educational centers across the globe without physically attending classes in the given institution. Another application is the social security where this type of e-commerce is evidenced through the distribution of information of the social security holder and their beneficiaries. Making payments to the social security accounts can also be done online (Fernandes, 2014). Taxes are another C2A application where filing of tax returns and making payments have been simplified hence making governments collect more revenues as this platform closes all the tax evasion loopholes. C2A e-commerce has also enabled the advancement of the health sector as patients can now make online appointments with their doctors. This is convenient as patients do not have to physically visit the doctors’ offices to make appointments. The information about the patients can also be stored online to avoid excessive paperwork. Patients can also pay for their treatment online (Fernandes, 2014).

ADVANTAGES OF E- COMMERCE:

E-Commerce is the easiest and the quickest way to boost up the business. E-commerce is gratifying the just alternative and electronic mail is a computer application which transmits the messages to the email boxes of other people using data communication which is called as email. There are a lot of internet sites which provide free email services related to the E-Commerce and business to the internet users and the customers. Computer softwares are used to promote the Electronic business. The computer softwares refer to the collective set of instructions called programs that can be interpreted by the business computers and cannot be touched by the human. The program causes the computer to perform desired functions such as flight simulation, the generation of business graphics or word processing. Following re the basic types of business software:

  • System Software
  • Application Software
  • Utility Programs

Whereas an operating system is an integrated set of programs that is used to manage the various resources and overall operations of a business. T s designed to support the activities of a computer installation. Its primary objective is to improve the performance and efficiency of a computer system and increase facility and ease with a system can be used. It also makes computer system user friendly. Business operating systems are used by many of business computers at this era. Operating systems include the disk operating system, windows, macintosh system from apple computer and Warp of IBM, and UNIX and Linux are using in the Electronic Business now a days. Business computer can only understand the machine or hardware language. It is necessary to convert the instructions of a program written in high level language to machine instructions before the program can be executed by the computer. A complier carries out this business job. Thus a complier is a translating program that translates the instructions of a high level language into machine language. A complier is called as business complier because the complier a set of business activities for every program instruction of a high level instruction. Complier can translate only those sources program which have been written in the language for which the computer is meant. For example, FORTAN complier is only capable of translating source programs which have been written in FORTAN, and therefore each requires a separate complier for each high level language. While interpreter is another type of business high level languages into machine codes. It takes one statement of a high level language and translates it into a machine instruction which is a useful technique for the business.

DISADVANTAGES:

E-Business is only dependent to the internet based advertisement and business which is a big drawback for the specific company in those cities where the people are not too much educated and then those people cannot access the internet and computer media. This factor can be a big loss for the company and its business. Some of the internet sites are charging too much from the customers and therefore customers and clients feel hesitation to go and view for those sites and this creates a major hindrance to enhance and boost up the business and the trade of the company. E-Business s not too much useful for the illiterate people and thus those people remain unaware by the policies and strategies of the big and well named companies. No doubt, E-Business has many advantages for the company and the trade for the company but we cannot neglect the disadvantages of the E-Business.

E-commerce is for effluent society i.e. why population in USA use is 50%, in Europe 13 percentage, in poor countries only 1-2 percent and in some countries it is negligible. Thus e-commerce is for classes and not for masses.

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