E-COMMERCE
Electronic
Commerce, commonly known as Electronic Marketing or E-Commerce, consists of the
buying and selling of products or services over electronic systems such as the
internet and other computer networks. The use of commerce is conducted
electronically has grown extraordinarily with widespread internet usage. The
use of commerce is conducted in this way, spurring and drawing on innovations
in electronic funds transfer, supply chain management, internet marketing,
online transaction processing, electronic data interchange (EDI), inventory
management systems, and automated processing, electronic data interchange.
Modern electronic commerce typically uses the World Wide Web at least at some
point in the transaction’s lifecycle, although it can encompass a wider range
of technology such as e-mail as well.
E-TRAILERS
A large percentage
of electronic commerce is conducted entirely electronically for virtual items
such as access to premium content on a website, but most electronic commerce
involves the transportation of physical items in some way. Online retailers are
sometimes known as e-tailers and online retail is sometimes known as e-tail.
Almost all big retailers have electronic commerce presence on the World Wide
Web.
B2B E-COMMERCE
Electronic commerce
that is conducted between businesses is referred to as business-to-business or
B2B. B2B can be open to all interested parties (e.g. commodity exchange) or
limited to specific, pre-qualified participants (private electronic market)
B2C E-COMMERCE
Electronic commerce
that is conducted between businesses and consumers, on the other hand, is
referred to as business-to-consumer or B2C. This is the type of electronic
commerce conducted by companies such as Amazon.com.
Electronic commerce
is generally considered to be the sales aspect of e-business. It also consists
of the exchange of data to facilitate the financing and payment aspects of the
business transactions.
History
The meaning of
electronic commerce has changed over the last 30 years. Originally, electronic
commerce meant the facilitation of commercial transactions electronically,
using technology such as Electronic Data Interchange (EDI) and Electronic
Funds Transfer (EFT). These were both introduced in the late 1970s,
allowing businesses to end commercial documents like purchase order or invoices
electronically. The growth and acceptance of credit cards, automated
teller machines (ATM) and telephone banking in the 1980s were also
forms of electronic commerce. Another form of e-commerce was the airline
reservation system typified by Sabre in the USA
and Travicom in the UK
Online shopping, an important component of electronic commerce, was
invented by Michale Aldrich in the UK Gateshead , England
During the 1980s,
online shopping was also used extensively in the UK
In 1990 Tim
Berners-Lee invented the World Wide Web and transformed an academic
telecommunication network into a worldwide-everyman-everyday-communication
system called internet/ www. Commercial enterprise on the internet was
strictly prohibited until 1991. Although the internet became popular worldwide
around 1994 when the first internet online shopping started, it took about five
years to introduce security protocols and DSL allowing continual
connection to the internet. By the end of 2000, many European and American
business companies offered their services through the World Wide Web.
Since then people began to associate a word “e-commerce” with the ability of
purchasing various goods through the internet using secure protocols and
electronic payment services.
Business
applications
Some common
applications related to electronic commerce are the following.
·
Email
·
Enterprise
·
Instant
messaging
·
Newgroups
·
Online shopping
and order tracking
·
Online banking
·
Online office
suites
·
Domestic and
international payment systems
·
Shopping cart
software
·
Teleconferencing
·
Electronic tickets
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