Introduction:
E-commerce having its derivative roots at Electronic Commerce is another show pulled off by the advent of internet and telecommunication. It started with e-mail, e- governance thus leading to e-commerce, and is used in conjunction of buying and selling of goods, which could be a subset of anything in particular namely, Auctions, Advertising, Banking, and even ordering of foods.
Discourse:
- Ecommerce are commonly classified as B2B or B2C, with B2B standing for business to business, it includes electronic out sourcing of business, or stocks, commodities exchange and is limited to specific participants.
- B2C stands for Business to Consumer and this includes services from popular sites such as Amazon.com, Ebay.com and Rapidsare.com. Various other branches include B2 government, manager, and employee.
- “E- Commerce could change the way our grand kids would look at business” Mentions an analyst Martin Hunger, it’s sure to expand and set its mark on every business and revolutionize the way people look at marketing.
- Nowadays the entire business process is carried over the internet, with a particular compliment to technologies that facilitate such easy process of doing away with the queues of booking a show ticket.
How it impacts the Economy:
Researchers predict a stiff competition between various participants in e- commerce, as it allows customers to compare price quotes of various other retailers, thereby diminishing resource scarcity and allowing more flexibility to the consumers.
Evolving Business Models:
Strategic Marketers also have sensed the growing need for the implementation of e commerce in their business and have evolved their business models with marked changes in the advertising sectors. USA, UK and China seem to be the frontrunners in expansion of E- commerce with millions of active internet users from their zone. Generic E commerce has paved way for many sister concerns especially Social Commerce, which extracts it’s vitality from Social Networks to manage its marketing, introduced by Yahoo, it allows referrals and opinions by a bandwidth of members with regard to products
Filed under: Offshore Outsouring
