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E-commerce is a combination of electronic fund transfer, supply chain management, internet marketing, online transaction processing, electronic data interchange, inventory management system and automated data collection system. Books, home-made electronic products such as TVs, refrigerators, washing machines, etc., cars, etc. are being bought through the internet.
Greeting cards sitting at home, sending different types of gifts to loved ones in different parts of the world. Various types of e-commerce sites are offering this facility. When the product is ordered electronically, the money is deducted from the buyer on the credit card and the product is delivered to the buyer within the stipulated time.
In addition to commerce, e-commerce also plays an important role in providing a variety of services. Travel, legal, research, educational services are available through money which is using e-commerce.
In such e-commerce there is no intermediary between the buyer and the seller. One buyer government buys another buyer's product. This type of e-commerce is very useful for selling any old product.
The person who will sell his product mentions the details, name, address etc. of the product he wants to sell on the website. And whoever buys it will contact the seller and buy the product. Many other types of products including old computers and computer parts, cars, home appliances, mobile phones, etc. are bought and sold in this process.
Types of e-commerce
E-commerce can generally be divided into four categories according to the nature and type of product transaction. E.g.
- 1. Business to Consumer (B2C)
- 2. Business to Business (B2B)
- 3. Consumer to Consumer (C2C)
- 4. Consumer to Business (C2B)
- 5. Consumer to Consumer (C2C)
Ecommerce technology is based on seven features:
- 1. Ubiquity
- 2. Global Reach
- 3. Universal Standards
- 4. Richness
- 5. Interactivity
- 6. Information Density
- 7. Personalization
Consumer to Business (C2B)
There are some types of business that traders take from consumers. The consumers submit their products and services to the companies and if the goods or services are accepted by that company, the company pays the consumer for it.
For example, if an organization of consumers takes a proposal to an airline company that if the price of an air ticket is fixed at a minimum level, they will arrange for a specified number of regular passengers. If the airline accepts the offer, such business can be called C-to-B.
Advantages of e-commerce
- Quick buying / selling method, easy to find products.
- The cost of running a business is low.
- Buyers can easily reach beyond the geographical limitations.
- Improves product quality.
- Provides advanced services at low cost.
- Business can be done without external setup.
- Businesses can be easily started and managed.
The buyer can choose the products of different providers without going physically.
Disadvantages of E-Commerce
The disadvantages outweigh the advantages of e-commerce. Even so, owning one is still beyond the reach of the average person. These difficulties are discussed in detail below.
- Lack of skilled expertise.
- Advanced technology is expensive.
- Excessive order delivery problems.
- Remote place orders are expensive in some cases.
- Problems in law making and application
- Transaction security issues.