An industry where buying and selling of products or services is
conducted over electronic systems such as internet/ computer networks.
This uses WWW at least at one point in the entire transaction life cycle.
It is a submersion of various technologies :-
Mobile Commerce EFT SCM Internet Marketing EDI Inventory management System Automated data collection software 1. Mobile Commerce A retail outlet in customers pocket. Providing business options through mobile.
Various services include:- Mobile Money transfer :- M-Pesa by Vodafone. Mobile ATM :- Airtels new service. Mobile ticketing :- IRCTC booking. 2. Electronic fund transfer Money transfer from one account to another account within a single FI or in between multiple FIs using computer based system. NEFT RTGS 3. Supply Chain Management Management of flow of goods.
Movement and storage of raw materials, WIP inventory, finished goods from point of origin to point of consumption. 4. Internet Marketing Use internet to deliver promotional marketing message to customers. Online banners. Floating ads. Promotional emails. 5. Electronic data interchange Computer-to-computer interchange of strictly formatted message that represents documents other than monetary instruments. Sales report. Invoices. 6. Inventory management system Computer based system for tracking inventory levels, ordering, sales ad deliveries. 7. Automated data collection systems System that automatically derive all the datas of a particular product through a bar code. Bar code scanners. RFID readers. Advantages Time saving
Consumer have access to wide range of products.
No need of physical setups.
Allow small business to mix with big business online.
Business open 24*7*365.
World wide market space.
Help prevent fraud and theft loss.
Thinking outside the globe. Disadvantages Purchase to delivery
Inability to feel physically the product.
Consumers feel less confident with their credit card transactions.
Not every company can take the benefit.
Customer loyalty is a big issue as minimum consumer to company interaction. Types of E-commerce B2B :- Manufacturers selling to distributors.
B2C :- Manufacturers selling to customers.
C2B :- Consumer posting his project requirement with a set budget online, companies review it and bid on the project.
C2C :- Customer selling to other customer. How to target the customers ? Narrow down the geographic profile based on:- Age range Gender Nationality Income group Academic level Technical capability
Are they avid FB users?? Are they addicted to emails?? Do they love using apps??