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features of E-Commerce
Transcript of features of E-Commerce
Its really easy to understand how this feature can benefit business and consumers.
“the potential market size for e-commerce merchants is roughly equal to the size of the world’s online population.”The total number of users or customers an e-commerce business can obtain is a measure of its reach” 2. Global Research 1.Ubiquity 2.Global
Standards 4.Richness 5.Interactivity 6.Information
/Customization e-commerce is made possible through hardware (Internet) and software/content (World Wide Web)
The Internet – In its infancy, the architects developed standards that are now globally recognized (TCP/IP)
The World Wide Web – Standards are becoming #1 priority (XML, HTML, etc.)
Universal standards can greatly influence market entry costs 3.Universal Standards Standards make it much easier to build business from existing technologies.
This reduces entry costs Example Best Buy
Will let you go into the store and compare all appliance store prices so you don't have to "shop around". Many stores will also call all their other stores or get it from their site shipped to the store so you don't have to go anywhere. YI ZHANG •E-commerce refers to businesses and consumers buying and selling products online.
•E-commerce does not only refer to the selling of physical products, it can also refer to the selling of services where payments for the services are made online.
•As a general rule an e-commerce website is a website where a transfer of funds is completed electronically - hence e-commerce. •Traditional Commerce means communicating with the customer and supplier using different applications in many time-consuming different steps. E-COMMERCE TRADICIONAL COMMERCE Reach: the total number of users or customers an e-commerce business can obtain While e-commerce can reach across geographic boundaries, also it can reach across demographic boundaries. Demographics
- Religion 4.Richeness 5. Interactivity 6. Information Density 7. Personalization
&Customization keys to create a successful web site
with global reach. E-commerce technologies permit: Personalization Vs Customization Examples: -Enable two-way communication between merchant and consumer.
-Interactivity allows an online merchant to engage a consumer in ways similar to a face-to-face experience, but on a much more massive, global scale.
-It saves time to customers in the moment of making a purchase
-The company don`t need a physical branch to sell their products.
-The company doesnt need to have a great stock of goods because they sell it by order. - The customers usually takes risk free decisions, is important to build trustful relationship with our customers.
- The consumers can’t have direct contact with the goods.
- The customers personality is dificult to study in the moment and analize the purchase behavior.
Is limited for the segment of people who has and know how to handle the internet. ADVANTAGES AND DISADVANTAGES Advertising and branding are an important part of commerce. e-commerce can deliver video, audio, animation, etc. much better than other technologies (billboards, signs, etc.) However, its about as rich as television technology. Enhances post-sale support strategies The e-commerce technology reduces information costs raises the quality of information Consider the old way to share information, i.e., paper, mail, voice communication, etc. amount and quality of information available to all market participants E-COMMERCE v.s TRADICIONAL COMMERCE traditional commerce Advantages Disadvantage •Assured quality
•Meet the choice of the client
•Can have a discount as low as possible upon bidding process •Time consuming
•High energy waste
•Prone to human error in terms of money change Benefits of E-Commerce for Consumers benefits of E-Commerce for Merchants e-commerce •Quick, easy and convenient
•Product comparisons •Reduced costs
•Increased consumer reach Aimee Siekierka Taiming Zhang Conclusion •Traditional commerce – benefits and limitation
•E- Commerce – Benefits and limitation
•consumer care more about on social graph ranks products and services than how Google rank them
•There are 78% of customer trust peer recommendations and only 14% trust advertisement.