Skip to main content

Features of Electronic Commerce




  1. Ubiquity: E-Commerce is ubiquitous, meaning that is available just about everywhere at all times. it liberates the market from being restricted to a physical space and makes it possible to shop from your computer system (such as your desktop). The result is called a market space. From consumer point of view, ubiquity reduces transaction costs - the cost of participating in a market. To transact, it is no longer necessary that anyone spend time and money travelling to a market. At a broader level, the ubiquity of e-commerce lowers the cognitive energy required to complete a task.
  2. Global reach: E-Commerce technology permits commercial transactions to cross cultural and national boundaries far more conveniently and effectively as compared to traditional commerce. As a result, the potential market size of e-commerce merchants is roughly equal to the size of world's online population.
  3. Universal standards: One strikingly unusual feature of of e-commerce technologies is that the technical standards of the internet and therefore the technical standards for conducting E-Commerce are universal standards i.e. they are shared by all the Nations around the world.
  4. Interactivity: Unlike any of the commercial technologies of the 21st century, with the possible exception of the telephone, E-Commerce technologies are interactive, meaning the allow for two way communication between merchants and consumer.
  5. Information density and richness: The internet vastly increases information density. It is the total amount and quality of information available to all market participants, consumers and merchants. E-Commerce technologies reduce information collection, storage, communication and processing costs. At the same time, these technologies increase greatly the accuracy and timeliness of information, making information more useful and important than ever. As a result, information becomes plentiful, cheaper and of higher quality. Information richness refers to the complexity and content of a message.
  6. Personalization: E-Commerce technologies permit personalization. so merchants can target their marketing messages to specific individuals by adjusting the message to a person's name, interests and past purchases. The technology also permit customization. merchants can change the product or service based on user's preferences or prior behaviour.
Labels:

Comments

Post a Comment

Popular Post

Competitive Advantage - Sustainable Competitive Advantage

Sustainable competitive advantage may be realised by adoption of e-commerce strategies and business models. Rather than simply exchanging procurement transactions as with e-commerce practices, leading enterprises are executing e- commerce to share intellectual capital with their trading partners working as a value chain that provides a competitive advantage for the development and distribution of their products. The idea of giving the customer access to tracking information via the internet was a new one that had considerable appeal to the customer. For example , the use of new system also had considerable advantage to FedEx who no longer had to deal with a vast number of calls checking up on progress of consignment; because the customer could now access the system themselves. But e-commerce development and implementation could not be entirely private- customer had to become involved at some stage. The competitor was quick to catch on to the idea and UPS (United Parsal Services) was so...
Post a Comment
Read more

E-Commerce Implementation

The strategy diagram divides implementation into the technical and the business aspects and these are briefly considered below: Technical Implementation : The approach to technical implementation of an E-Commerce system depends on the business objectives, business requirements and technologies that have been selected. It is noted that many internet E-Commerce systems are cobbled(repaired) together rather than designed and that is often apparent. It is important that the design process considers: Is of use of system by intended end-users : Always an important factor in system design but crucial if the end user are to be members of the public with perhaps limited computer literacy and the option to switch to an alternative website if not satisfied. Functionality that users need : This has to be what the users want rather than what the organisation things they need. Uses of e-commerce are not a captive audience that can be interviewed and evaluated like the uses of a traditional IS develo...
Post a Comment
Read more

Electronic commerce introduction

Electronic Commerce ( e-commerce ) generally refers to all forms of transactions relating to commercial activities, involving both organizations and individuals that are based upon the processing and transmission of digitised data, including text, sound and visual images. E-Commerce has created a new environment in business transactions using internet. It deals with providing information to consumers regarding products of their interest. It provides a platform of advertisement of products, allows negotiations, order for raw materials, settlement of financial transactions etc. Electronic commerce is an integrations of communication services, data management and security mechanisms that allows organizations to exchange information about the sale of goods and services, where, Communication services supports the transfer of information from the buyer to the seller electronically. Data management is the exchange and storing of data in a uniform format to facilitate easy exchange of infor...
Post a Comment
Read more