Chapter 10, Problem 16CSQ

Program Plan Intro

E-commerce:

• E-commerce denotes buying or selling of products online.
• The areas of e-commerce include:
  • Online Retailing
  • Electric markets
  • Online Auctions
• It provides online shopping for retail sales direct to consumers via web sites.
• It uses demographic data through social media and web contacts.
• It engages in retail for launching new services and products.
• It has online financial exchanges for trading and concurrency exchanges.

Features of e-commerce:

The eight unique features of e-commerce are as follows:

• Ubiquity:
  • Internet technology is accessible to the customers everywhere.
• Global reach:
  • It displays that e-commerce grows to each part of the world.
  • It also allows commercial transaction among national boundaries
• Universal standards:
  • It is also called as universal standards.
  • These standards are used for organizing e-commerce business that is exchanged across the world.
• Richness
  • Video, audio, and text messages are possible in these features.
    • These features are merged into single marketing message and consumer experience.
• Interactivity:
  • This feature works by communication with the user. The communication is done by a two-way method that is the consumer and supplier.
• Information density:
  • Here, the technology decreases the information costs.
  • It improves the currency, accuracy and quality.
• Personalization/Customization:
  • This feature is used to deliver the personalized message to individual and also to groups.
• Social technology:
  • It supports the content generation and social networking.