eCommerce for Newbies
eCommerce, or electronic commerce, pertains to a vast range of online business activities for services and products. It also refers to any kind of business transaction in which certain parties interact electronically, rather than direct physical contact.
eCommerce is typically associated with selling and buying online, or executing any transaction involving ownership transfers, or the rights to use services and goods through computer-mediated networks.
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Is ecommerce the same as e-business?
Some people use e-business and ecommerce interchangeably, but in truth, these are two different concepts. In the world of ecommerce, ICT, or information and communications technology is utilized in inter-organizational or inter-business transactions, and in business-to-consumer transactions.
Meanwhile in e-business, ICT is utilized to improve one’s brand and business. It involves those processes a business organization executes over computer-mediated networks.
The Different Kinds of eCommerce
- B2B, Business-to-business
- B2C, Business to-consumer
- B2G, Business-to-government
- C2G, Consumer-to-consumer
- M-Commerce, Mobile commerce
The Benefits of eCommerce
- Transaction costs are significantly reduced through B2B ecommerce.
- Reduction of search costs
- Reduction in Processing Transaction Costs
- Online processing makes inventory management and logistics a lot easier.
- Through B2B ecommerce markets, suppliers are able to transact and interact directly with buyers. This eliminates distributors and intermediaries.
- eCommerce encourages price transparency.