E-business :
Online Business or e-business is any kind of business or commercial transaction that includes sharing information across the internet.
Features of Online Business
It is easy to set up.
There are no geographical boundaries.
Much cheaper than traditional business.
There are flexible business hours.
Marketing strategies cost less.
Online business receive subsidies from the government.
There are a few security and integrity issues.
There is no personal touch.
E-business and its Advantages
Removes location and availability
restrictions. The internet reaches across the world and spans all time zones
Reduces time and money spent
Expedites customer service
Shows you how to improve
Keeps your business relevant
Limitations of e-Business
Lack of Personal Touch: E-business lacks the personal touch. One cannot touch or feel the product.
Delivery Time: The delivery of the products takes time. In traditional business, you get the product as soon as you buy it.
Security Issues: There are a lot of people who scam through online business.
E-commerce business models can generally be categorized into the following categories.
- Business - to - Business
- Business - to - Consumer
- Consumer - to - Consumer
- Consumer - to - Business
- Business - to - Government
- Government - to - Business
- Government - to - Citizen
E-business allows for conversations to happen quickly. Faster decision-making saves time, and time is money in business. E-business allows people to communicate in several ways that facilitate understanding.
E-commerce :
E-commerce is the buying and selling of good or services via the internet, and the transfer of money and data to complete the sales. It's also known as electronic commerce or internet commerce.
Features :
- Ubiquity. internet/web tech is available everywhere
- Global reach. tech reaches across national boundaries which makes marketspace potentially billions.
- Universal Standards
- Richness
- Interactivity
- Information density
- Personalization
- Social Technology.
Advantages and disadvantages of e-commerce :
Larger Market
Customer Insights Through Tracking And Analytics
Fast Response To Consumer Trends And Market Demand
Lower Cost
More Opportunities To "Sell"
Personalized Messaging
Increased Sales With Instant Gratification
Ability to Scale Up (Or Down) Quickly And Unlimited "Shelf Space"
E- Commerce example :
- Amazon.
- Flipkart.
- eBay.
- Fiverr.
- Quikr.
The objectives of ecommerce :
- Reduce management costs
- Developing business relations
- Providing a unique customer experience
- Increasing the number of loyal customers
- Boosting the efficiency of services.
- Developing relevant target
- Making responsive ecommerce website.
- Increasing sales
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