E-Commerce:
E-Commerce is a developing concept that describes the process of buying and selling or exchanging of products, services and information through computer networks including the internet. it is the use of internet and the web to transact business. in e-commerce commercial transactions involve the exchange of value across organizational or individual boundaries in return for product or services e-commerce applications started in early 1970's with the concept of electronic fund transfer (eft). but the application of eft was limited to large, corporations, financial institutions and few upcoming, daring small business. then it came and few upcoming, daring small business. then it came under the concept of electronic data interchange(edi)
By the year 2000 tech e-commerce market place represented access to millions of consumers world wide who used the internet a set of marketing communication technologies like e-mail and web pages which were universal, inexpensive and powerful.
Electronic business:
The term e-business is the digital replacement of transactions and processes within a firm, involving information systems under the control of the firm. the term electronic business refers to the broader of e-commerce not just buying and selling but also servicing customers and collaborating with business partners and conducting electronic transactions with in a organization. today electronic commerce is considered in its broadest scope equivalent to e-business.
Advantages of e-commerce:
1.It expands the market place in national and international markets.
2.Decreases the cost of creating processing, distributing, storing and retrieving paper
3.It helps in creating highly specialized businesses.
4.It allows reduced inventories and overheads.
5.It reduces the time between outlay of capital and the receipt of products and services.
6.It allow tele-communication cost.
7.Provides competitive advantage to its implementers.
8.Enables customers to shop or do other transactions 24 hours a day all year round, from almost any location.
9.Provides customers with more choices, they can select from many vendors and from more products.
10.Provides less expensive products and services by allowing them to shop in many places and conduct quick comparison.
11.Allows quick delivers
12. customers can receive relevant and detailed information in seconds rather than days or week.
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