E-Commerce Notes MGKVP

  Scope of E-Commerce   E-Commerce is a general concept covering any form of business transaction or information exchange executed using information and communication technologies ((ICT’s).It includes electronic trading of goods, services and electronic material. It takes place between companies, between companies and their customers or between companies and public administrations.         Electronic Markets:- An electronic market is the use of information and communication technology to present a range of offerings available in a market segment so that the purchaser can compare the prices of the offerings and make a purchase decision. e.g. Airline Booking System Electronic Data Interchange:-   It provides a standardized system for coding trade transactions so that they can be communicated from one computer to another without the need for printed orders and invoices & delays & errors in paper handling. It is used by organizations that make a ...

 Advantages of E-Commerce to Customers   Reduced Prices: - Costs of products are reduced since the stages along the value chain are decreased. For instance, intermediaries can be eliminated by the company directly selling to the customers instead of distributing through a retail store. 24-Hour Access: - Online businesses never sleep as opposed to brick and mortar businesses. E-Commerce allows people to carry out businesses without the barriers of time.   Global Marketplace:-  Consumers can stop anywhere in the world. Currently according to World Trade Organization (WTO) there are no custom duties put on products bought and traded globally electronically.  This also provides wide selection of products and services to consumers. More Choices: - Provides consumers with more choices. For e.g. before making any purchase, customer can study about all the major brands and features of any item. It also provides consumers with less expensive products and services by all...

  Introduction to Commerce              Commerce is basically an economic activity involving trading or the buying and selling of goods.   For e.g. a customer enters a book shop, examines the books, select a book and pays for it. To fulfill the customer requirement, the book shop needs to carry out other commercial transactions and business functions such as managing the supply chain, providing logistic support, handling payments etc.   As we enter the electronic age, an obvious question is whether these commercial transactions and business functions can be carried out electronically.   In general, this means that no paperwork is involved, nor is any physical contact necessary. This often referred to as electronic commerce (e-commerce) .   The earliest example of e-commerce is electronic funds transfer . This allows financial institutions to transfer funds between one another in a secure and ...