introduction to e commerce

2. E-commerce service designers now use multi-level identification protocols like security questions, encrypted passwords (Encryption), biometrics and others to confirm the identity of their customers. Shipping Documentation and Labelling: There will be less need for manual intervention because standard bills of lading, shipping labels, and carrier manifests will be automatically produced; this includes even the specialized export documentation required for overseas shipments. New forms of marketing will also emerge, such as web-based advertising, linked advertising, direct e-mail, and an increased emphasis on relationship marketing. Industries can purchase raw materials, components etc. Here we focus on digitally enabled commercial transactions among organizations and individuals. Creating and maintaining an e-tailing web site is an expensive process. Shippers can order any service and access the information they need to conduct business with transportation companies exclusively online. It is a significant threat in view of the privileges one can avail with a false identity. 3. The term e … 1. Online real estate sites play supporting role for property dealers. viii. E-Commerce is the exchange of goods and services between (usually) independent organizations and/or persons supported by a comprehensive usage of powerful ICT systems and a globally standardized network infrastructure. Imagine a website called furniture, com or living.com, where venture capitalists are investing millions in selling home furnishings online. Also, Payment gateways are vulnerable to interception by unethical users. Big e-tailing sites like Ebay(dot)com and Amazon(dot)com are making great business in this country. Technology makes it possible for anyone to buy or sell practically anything online. Brands are expected to lower search costs, build trust, and communicate quality. Managerial Issues 13. The web sites they create are easily understood by the visitors. Internet ‘search engines’ such as “Yahoo” and “Google” give consumers access to varied information sources, making them better informed and more discerning shoppers. This type of data and message security needs security measures like encryption, password protection etc. This helps real estate companies to attract buyers. Electronic Business - the transformation of key business processes through the use of Internet technologies. For this purpose the business partners have to couple their business processes and their ICT systems. With evolution of Information Technology we first heard the Radio and later the TV that could capture pictures from the air and show it on the TV box. As in the brick-and-mortar environment, they simply cannot compete on price or product offering. For instance, a book retailer would be a B2C company such as Amazon.com. It facilitates direct reach of customers and the bi-directional nature of communication. 2. Buying and selling take place through websites in E-Commerce. E-commerce makes it easier for customers to do business with companies: Anything that simplifies the process of arranging transportation services will help build companies’ business and enhance shareholder value. E-commerce is a vital link in the support of logistics and transportation services for both internal and external customers. Since its emergence, it has grown by leaps and bounds. Customers are notoriously fickle-minded, and do not minding visiting a competing website just to avail even one-time benefits or discounts. I purchased this book new. Something may be ethical in our country but unethical in another country. On the contrary there are the auctions sites like Quickr(dot)com and Ebay(dot)com where the information about certain listed products and services are provided but the monetary transactions normally happen physically. Most of the time, it refers to the sale of products via Internet, but the term eCommerce also covers purchasing mechanisms via Internet (for B-To-B). Meaning 4. Company management has to take steps to promote the website. ix. The terms e-commerce and e-business are often used interchangeably. 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. Customization – E-commerce provides for customization of products and services, in contrast to buying in a store or ordering from a television, which is usually limited to standard products. Introduction to E-Commerce, 2/e, by Rayport and Jaworksi, can be used as the principles book for e-commerce. Much like there is a “Principles of Marketing” that is intended to be the first course in marketing, The text covers the entire landscape of e-commerce. … Following are the major business application areas where E-Commerce is used widely: By using E-Commerce, consumers can buy the various products and services from the different manufacturers. There are various types of e-advertising: (a) Wallpaper Advertising – It changes the background of the web site to the chosen promotion. Not many businesses realise that even e-business cannot survive over the long term without loyal customers. Apart from these two categories of e-commerce sites, there are some sites which enable businesses to exchange trading goods and also service between two or more companies. History of E-Commerce 3. So far, success stories in e-commerce have forced large business with deep pockets and good funding to invest in creating on-line web­sites. So MNCs have to study culture of each country and develop corporate ethical code. E-business is an abbreviation for electronic business. Identity thefts Hackers often gain access to sensitive information like user accounts, user details, addresses, confidential personal information etc. 1. Electronic Completion of Business Processes: By using E- commerce we can perform business transactions like accounting and inventory through computers at global level. 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. vii. Another form of E-commerce was the airline and railway reservation system. Similarly network security measures like firewall needs to be installed so that intruders are not able to make authorized access to corporate network. Corporate Image – On the web, newcomers can establish corporate images very quickly. After a while, statistical analysis determines whether visitors to the site are one-time or recurring customers. E-commerce needs to be used as a strategic tool to gain and sustain competitive advantage in the industry. It’s suggested to start this process by identifying successful companies already working in this sphere. 6. Devising a strong online marketing campaign involves spending money, the cost of which is ultimately borne by the customer. (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. 2. This requires use of appropriate keywords in META tag. iv. And the price was the best I could find. Product Promotion – E-commerce enhances promotion of products and services through direct, information-rich, and interactive contact with customers. Vi­ruses cause unnecessary delays, file backups, storage problems, and other similar difficulties. He/she can then have the order delivered to an address other than the one listed on the records. Digitally enabled transactions include all transactions mediated by digital technology and platform; that is, transactions that occur over the Internet and the web. 5.0 out of 5 stars Good Book. 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. Latest update on Friday 22 June 2018 à 03:40 by Olivia Long. You reserve the right to access and change your personal data, aswell as the right to request its deletion within the limits permitted by law. Introduction to E-Commerce, 2/e, by Rayport and Jaworksi, can be used as the principles book for e-commerce. The internet has simplified the import and export business. Internet Strategies for Business and Key Success Factors in E-Commerce: Internet users are better educated, better informed. Unlike e-advertising, e- marketing is very subtle. 1. E-commerce functions are taking companies a substantial step forward by providing customers with a faster and easier way to do business with them. This can force larger brick and mortar retailers to open an online division. Corporatized retail- brick-and-mortar. The management needs to view electronic commerce potential in the light of the competition and not just as technological advancement. Users can surf the Internet and experience fully integrated text, graphics, images and sound. Introduction to E-Commerce, 2/E, by Rayport and Jaworksi, can be used as the principles book for e-commerce. E-commerce (electronic commerce) is the activity of electronically buying or selling of products on online services or over the Internet. Managing Ethical, Cultural and Legal Issues: There exist big ethical and cultural differences between countries. A search engine can come up with the best music deals, for example, yet consumers continue to flock to trusted entities such as HMV. 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. 3. Data protection and the integrity of the system that handles the data are serious concerns. Otherwise, the purpose of the e-tailing site will be defeated. Practical case studies offer a useful reference for dealing with various issues in E-commerce such as latest applications, management techniques, or psychological methods. 4. E-advertising also enables you to target the specific customers. EDI is an automated format of exchanging information between businesses over private networks. In this way the e-tailing shops lure the customers to make purchases on-line. 3. During the 1980s, online shopping was also used extensively in the UK by auto manufacturers such as Ford, General Motors and Nissan. 6. 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. To be more flexible and responsive to the market, new processes must be put in place. often used interchangeably but at its core e-commerce is much broader than this – it embodies a concept for doing business online The term electronic commerce or e-commerce refers to any sort of business transaction that involves the transfer of information through the internet. If this criterion is met, then you can sell anything on ecommerce websites—gadgets, books, automobiles, grocery, toys, apparel, vegetables and digital goods such as music, e-books, software, air tickets, magazine subscriptions and the like. This evolution is mainly driven by forces in four categories: The digital age workers will have to become very flexible. Efforts are made to change the behaviour and attitude of executives, managers, and trading partners. The users need to pay an Internet provider-to be hooked up to it through their computers. By definition it covers a variety of business activities which use internet as a platform for either information exchange or monetary transaction or both at times. When taken electronically, orders can be quickly routed to the appropriate order-processing site. vii. Step 1: Choose your e-commerce niche . 2. Some predict that it may very soon over… Introduction to E-commerce discusses the foundations and key aspects of E-commerce while focusing on the latest developments in the E-commerce industry. Share Your PDF File E-Commerce takes place between companies, between companies and their customers, or between companies and public administrations. Customers can manage the increasingly Complex movement of products and information through the supply chain. 2. Verified Purchase. The issue of tackling viruses and their like has also seen rapid development with anti-virus vendors releasing strong anti-viruses. As far as offline promotion is concerned, company can advertise the web address through visiting cards, letter pads, bill books etc. 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. Besides this, understanding of consumer behaviour, marketing tools and financial aspects is as crucial as designing interactive E- Commerce websites. E-tailing shops believe in building strong brands. All these intermediaries add to transaction costs. Online shopping, an important component of electronic commerce was invented by Michael Aldrich in the UK in 1979. Benefits can be measured through economic indicators like return on investment or through indicators like numbers of online customers, customer satisfaction and business partner satisfaction. By using E-commerce importers can make enquiries about the products, their manufacturers, price, quality, other terms and conditions etc. We will focus specifically on purchases of goods and services from online stores on the Web. As all the information is furnished to the customer, it becomes easy to him to choose the best product among all other alternatives. Company management has to make decision regarding in sourcing or outsourcing. E-commerce will give businesses more flexibility in managing the increasingly complex movement of products and information between businesses, their suppliers and customers. Money Thefts E-commerce services are about transactions, and transac­tions are very largely driven by money. The customers are free to make their own decisions regarding the purchase, at their own leisure time. Once the customer fills the cart with items that he or she has shopped, the site should take the customer towards the payment gateway, which collects money electronically. The marketer can easily monitor and track the results of the campaign. Two way interactions are now possible in video conferencing used for employee training and education. 4. Practical case studies offer a useful reference for dealing with various issues in E-commerce such as latest applications, management techniques, or psychological methods. Unchecked, they can potentially cripple the entire system. E-commerce serves as the best channel of communication. Simple Definitions 1.1. Someone's always going to try to steal that data, which is why you'll need to know all the tools and techniques to keep bad guys and bots out of your inbox—and your life. 3. E-commerce provides the following main advantages: (i) Convenience – Customers can order products or services 24 hours a day wherever they are. E-business applications turn into e-commerce precisely, when an exchange of value occurs. E-Tailing is the abbreviation of electronic retailing. You can also review your targeting options. (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. EDI is composed of standards that enable businesses’ computers to conduct transactions with each other, without human intervention. E-marketing provides much better return on the investment made by the marketer. (iii) Fewer Hassels – Customers don’t have to face sales people or open themselves upto persuasion and emotional factors, they also don’t have to wait in line. For example, the numbers of consumer brand retail sites like Amazon(dot)com and Flipkart(dot)com which normally provides information about products and also allows monetary transactions to happen over the internet. These channels provide information, news, libraries, education, travel, sports and reference, entertainment, shopping services, dialogues opportunities and e-mail etc. Threats to the system Viruses, worms, Trojans are very deceptive methods of stealing information. Read more. These steps have found wide favour all around due to their effectiveness in weeding out unwelcome access. Various companies have set up on-line information and marketing services that can be accessed by those who have signed up for the service and pay a monthly fee. BUSA 3455 - Introduction to E-commerce Business Administration Part-time Studies Course School of Business + Media To support you and your education, BCIT is adapting applied learning in formats appropriate to the unfolding global situation. There are three types of destinations that cater to retail sales: ii. An important point about an application such as this one is that information should be kept confidential as it flows across the internet. 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. 3. E-tailing is a subset of e-commerce. Disclaimer Copyright, Share Your Knowledge Moreover, URL can also be advertised at various trade fairs, exhibitions and business related events like seminars, conferences etc. Introduction to E Commerce and Internet. 2 Introduction to E-Commerce - Keeping Your E-World Secure. But the personal information so collected must be used for stated business purposes. By definition it covers a variety of business activities which use internet as a platform for either information exchange or monetary transaction or both at times. E-commerce operates digitally. But many surveys have shown that online consumers have little privacy protection. Hence E-commerce does not involve face to face contact. It reduces the cost of marketing campaign. Large organizations have been investing in development of EDI since sixties. E-commerce will help companies deliver better services to their customers, accelerate the growth of the e-commerce initiatives that are critical to their business, and lower their operating costs. 3. Payments can be made by electronic modes including digital means like internet payment or internet money transfer. Faster Information- The information superhighway permits speedy exchange of data across the world, which also means new information, is available faster. After the sale, customers might have queries related to the usage, repair or enhancement of the products or services that they have already purchased. There have been cases when vital information like credit card numbers are stolen by hackers. This attracts hackers, crackers and everyone with the knowledge of exploiting loopholes in a system. 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. By using e-commerce, companies can reduce costs, improve data accuracy, streamline business processes, accelerate business cycles, and enhance customer service. Such changes may redefine organizations’ missions and the manner in which they operate. The Internet is a global web of computer networks that has made instantaneous and decentralised global communication possible. E-commerce is run primarily by users. 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. Privacy Policy3. Driven by increased competition in the global marketplace, firms are reducing the number of employees down to a core of essential staff and outsourcing whatever work they can to countries where wages are significantly less expensive. It isn't all space dogs and tech terms. Online Banking is also known as electronic banking, Net banking, virtual banking and internet banking online banking is defined as automated delivery of new and traditional banking products and services through electronic and interactive communication channels. Introduction to E-Commerce most of the information is still relevant. This course will give you an introduction to e-commerce and discuss the environmental challenges and strategic challenges that organizations face. The ecommerce website of a company should put an easy process in place so that the customer browsing through the site can place an order. 5. Major threats to present day e-commerce may be listed thus: i. Using the Internet for e-commerce will allow customers to access rate information, place delivery orders, track shipments and pay freight bills. As in the brick-and-mortar environment, they simply cannot compete on price or product offering. Threats to Present Day E-Commerce and Its Solution. Unit 4. The key message is that faculty who want to teach an introductory class on e-commerce and focus on the strategy 3. 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. This fundamentally affects packaging and greatly reduces the need for historical distribution. Unless a sound virus-protection strategy is used by the ecommerce Solutions firm, these malicious agents can compromise the credibility of all ecommerce web solution services. Electronic Commerce - business trading with other businesses and internal processes that companies use to support their buying, selling, hiring, planning, and other activities. 5. ii. Marketers and their representatives are held at bay till customers invite them to participate in the exchange process, customers define the rules of engagement, and insulate themselves with the help of agents and intermediaries. iii. Company management can also outsource this task to some third party, normally an experienced web development firm. vi. It is the sale of goods and services through the internet. 4. E-commerce enables shippers, freight forwarders and trucking firms to streamline document handling without the monetary and time investment required by the traditional document delivery systems. Much like there is a “Principles of Marketing” that is intended to be the first course in marketing, The text covers the entire landscape of e-commerce. 1. An introduction to e commerce and distributed applications. Electronic commerce, known as E-Commerce, occurs daily when sellers and buyers use the internet to conduct business transactions. Japan is seen as a global leader in m-commerce. The main purpose of e-advertising is to reach out to a wider range of customers. For example, the computer software is directly downloaded by the software manufacturer on computer of the customer. Than there are more likely to use internet for e-commerce website includes study notes, research papers essays! Writing articles about products and information from manufacturers rent, insurance and utilities, History e-commerce. And medium – these companies have designed their own sites internet is a story. As e-commerce software agents to search for and invite offers from multiple.... As with business partners and customers the transfer of information through the internet and interactive with. Customers may have trust issues before providing their personal details and credit card numbers are stolen by.! Entire amount being transferred from the user to the market importers can make enquiries about products! 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