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Saturday, October 19, 2019

Define Ecommerce with Example | Feature of E-commerce | Full form of EDI

Define E-commerce with example. Write down the feature of E-commerce.

E-Commerce:
E-commerce (electronic commerce or EC) is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the Internet. These business transactions occur business-to-business, business-to-consumer, consumer-to-consumer or consumer-to-business. The terms e-commerce and e-business are often used interchangeably.


online business
ecommerce online business

What is EDI? / full form of EDI / EDI full form

Sharing business information, maintaining business relationships and conducting business transactions using computers connected to a telecommunication network is called E-Commerce. E-commerce is conducted using a variety of applications, such as email, fax, online catalogs, and shopping carts, Electronic Data Interchange (EDI), File Transfer Protocol, and Web services. Most of this is business-to-business, with some companies attempting to use email and fax for unsolicited ads (usually viewed as spam) to consumers and other business prospects, as well as to send out e-newsletters to subscribers.



EDI (Electronic Data Interchange)
ecommerce online business



E-commerce Applications-example:

•ONLINE SHOPPING- Amazon, Flipkart(Buying and Selling products)

•RETAIL STORES - Books, Music
•AUCTION SITES
•COOPERATING BUSINESSES –Placing orders, paying invoices, etc.
•ELECTRONIC BANKING
•BOOKING TICKETS - TRAINS, CINEMA, AIRLINES
•ELECTRONIC PUBLISHING

•FILING TAX RETURNS WITH GOVERNMENT DEPT.



ec
ecommerce online business



Features of E- Commerce:

E-Commerce provides following features

Non-Cash Payment − E-Commerce enables the use of credit cards, debit cards, smart cards, electronic fund transfer via the bank's website(NEFT) and other modes of electronic payment.

24x7 Service availability − E-commerce automates the business of enterprises and services provided by them to customers who are available anytime, anywhere. Here 24x7 refers to 24 hours of each seven days of a week.

Advertising / Marketing − E-commerce increases the reach of advertising of products and services of businesses. It helps in better marketing management of products / services.

Improved Sales − Using E-Commerce, orders for the products can be generated anytime, anywhere without any human intervention. In this way, dependencies to buy a product reduce at large and sales increases.

Support − E-Commerce provides various ways to provide pre sales and post-sales assistance to provide better services to customers.

Inventory Management − Using E-Commerce, inventory management of products becomes automated. Reports get generated instantly when required. Product inventory management becomes very efficient and easy to maintain.

Communication improvement − E-Commerce provides ways for faster, efficient, reliable communication with customers and partners.

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