Today we are living in such a world where the order for the pizza and Payment for the child’s education is done with just a phone call or a click. Today we can buy Clothes, accessories, Gadgets, Books, Footwear and many more, sitting at our home with just a click.. The word behind all this is E-COMMERCE
What is E-commerce..?
E-commerce or Electronic-Commerce is the new buzz word used for conducting, maintaining and developing the transactions of Business through a secure communication medium in which the client (buyer) and the owner (seller) can virtually interact and negotiate with each other to fulfill their purpose (Buying or Selling).
There are many forms or ways in which E-commerce can be carried out, We can trace the existence of E-commerce way back into 60’s in which the data was communicated through communication networks (Electronic Data Interchange). The E-commerce system gradually developed with the advent of new techniques and technologies in Networks and telecommunications. Today with the advancement of Internet all steps carried in the business or trade such as Ordering, Selling, Marketing and Support are carried through E-commerce. We are now in such a position that the customer is just two clicks away from his desired product or Service.
One of the major advantages of E-commerce is boundary less and timeless marketplace. i.e. the geographical boundary of the business entities are removed. It reduces the cost of Operations, Inventory etc. It digitizes the business and its process and above all it gives ample choice for the consumers and also reduces the necessity of physical presence of both the buyer and the seller. Hence it is more efficient and Cost effective.
Each and every thing in this world has two faces. Hence, if there are advantages, there are some limitations too. The major concern of E-commerce is Security and Reliability of the medium. With the changing scenarios and...
Please join StudyMode to read the full document