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Ecommerce Leads Online Business Effectively

Electronic commerce is a term or online store of any type of business or commercial transaction. It is the buying and selling of products and services by business and consumers through an electronic medium over the internet. It is currently one of the most important feature of Internet to develop commercial business, transaction , retail sales, management etc.

Electronic commerce is based on some recognized technologies like mobile commerce, transfer, supply, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data systems.

The latest e-commerce supports the World Wide Web in the transaction's life-cycle to some extent. It can also include diversified techniques like e-mail, mobile devices social media, and telephones.

Ecommerce involves three characteristics of business transaction or services.

  1. Business to Business (B2B): A B2B business is one that provides products or services to other businesses. B2B ecommerce is the most popular ecommerce. When both parties involved in an ecommerce transaction are businesses, we call it business to business ecommerce, or B2B ecommerce in short.

 For example:       A medical Billing service or Software company.
                           A virtual assistant business.
                           A direct mail marketing service.

  1. Business to Consumer (B2C): When any company make sale directly to the consumers, it is called as B2C. Business-to-consumer (B2C) is an Internet and electronic commerce model that denotes a financial transaction or online sale between a business and consumer. B2C plays a vital role in shaping the Internet. The sell volume of merchandise gets larger through B2B process.

For example:

  1. Consumer to Consumer (C2C): C2C e-commerce is a convenient way for consumers to buy and sell goods from anywhere. In C2C ecommerce consumers interact directly with each other. And, both new and used goods are sold and bought through C2C e-commerce.

For example:        Ebay.

Ecommerce includes the entire online process of developing, marketing, selling, delivering, servicing and paying for products and services. Consumers to business leaders as well as all kinds of people can make any kind of deals electronically through ecommerce.  Ecommerce can be successfully measured by businesses to produce the sales volume of their enterprise. It can be an effective market entry strategy for companies that do not have an established physical retail location.

Advantages of Ecommerce:

  • Faster buying/selling procedure, as well as easy to find products.
  • Buying and selling 24*7.
  • To find more prospective customers, there is no theoretical geographic limitations.
  • Low operational costs and better quality of services.
  • Easy to start and manage a business for customers.
  • Customers will be able to find diversified products from various suppliers devoid of travelling physically.

Disadvantages of Ecommerce:

  • Any one having good or bad reputation, can easily start a business. And there are many immoral sites which can steal customers’ money.
  • There is no guarantee of product quality.
  • As there is minimum chance of interacting with customer directly, customer loyalty is always on a risk.