Chapter 8, Problem 2RQ

Program Plan Intro

E-Commerce:

The process of e-commerce is to buy and sell the goods and services via electronic channels over the internet.

• E-commerce is also called as electronic commerce.
• A computer application e-commerce refers to the buying and selling of goods and services via electronic channels over the internet.
• Even though the technologies available such as e-mail, social media and mobiles, the modern e-commerce mostly uses the internet for the online purchasing of products.
• It is the most efficient method to communicate within the organization of business transactions such as maintaining the financial records of the users such as bank balances, name and address. But it is just a part of e-commerce business.

B2C:

• Business to Consumer (B2C) includes the transactions performed between the companies and the consumers or customers.
  • Here, the end users of that company are referred as consumers or customers.
• It may have higher value because the market is bigger in terms of potential customers.
• For example, customer buying a fridge from the electronic retailer is known as B2C transaction.

B2B:

• Business to Business (B2B) includes the transactions performed between two different businesses like manufacturer and wholesaler, wholesaler and retailer and many such.
• It has definitely a higher value than B2C.
• Example: automobile manufacturing