GROUP 1 ECOMMERCE

• Definition of E-Commerce:

  • Process of buying, selling, transferring, or exchanging products, services, and/or information via electronic networks and computers
• Definition of Commerce:

  • Exchange of goods and services for money
  • Involves buyers, sellers, and producers
• Difference between E-Commerce and E-Business:

  • E-Commerce primarily involves transactions that cross firm boundaries
  • E-Business primarily involves the application of digital technologies to business processes within the firm
• 1. Commerce through History:

  • 1970s: Facilitation of commercial transactions electronically using technology like Electronic Data Interchange (EDI) and Electronic Funds Transfer (EFT)
  • 1980s: Growth of credit cards, ATM, telephone banking, and airline reservation systems
  • 1990s: Internet commercialized, dot-coms emerged, and innovative applications like online direct sales and e-learning
  • 2000s: European and American companies offered services through the World Wide Web
• Technological Building Blocks Underlying E-Commerce:

  • Internet, Web, and Mobile Platform
• Unique Features of E-Commerce Technology:

  • Ubiquity
  • Global Reach
  • Universal Standards
  • Richness
  • Interactivity
  • Information Density
  • Personalization
  • Customization
• Types of E-Commerce:

  • Business-to-Consumer (B2C)
  • Business-to-Business (B2B)
  • Consumer-to-Consumer (C2C)
  • Mobile E-Commerce (M-Commerce)
  • Social E-Commerce
  • Local E-Commerce
• Electronic commerce, commonly known as eCommerce or eBusiness, refers to the buying and selling of products or services over electronic systems such as the Internet and other computer networks.
• e-commerce is the buying and selling of products or services over electronic systems such as the Internet and other computer networks.
• 1970s

  E-commerce meant the facilitation of commercial

  transactions electronically, using technology such as

  Electronic Data Interchange (EDI) and Electronic Funds

  Transfer (EFT), allowing businesses to send commercial

  documents like purchase orders or invoices electronically.
• World Wide Web (the Web) an information system running on Internet infrastructure that provides access to billions of web pages
• MOBILE PLATFORM provides the ability to access the Internet from a variety of mobile devices such as smartphones and tablets.
• UBIQUITY - In traditional commerce, a marketplace is a physical place you visit in order to transact. For example, television and radio typically motivate the consumer to go someplace to make a purchase. Ecommerce, in contrast, is characterized by its ubiquity: it is avail- able just about everywhere, at all times.
• GLOBAL REACH - the total number of users or costumers an e commerce business can obtain.
• UNIVERSAL STANDARDS - standards that are shared by all nations around the world.
• RICHNESS - the complexity and content of a message
• INTERACTIVITY - technology that allows two-way communication between merchant and consumer.
• INFORMATION DENSITY - the total amount and quality of information available to all market participants.
• PERSONALIZATION - the targeting of marketing messages to specific individuals by adjusting the message to a person's name, interests, and past purchases.
• CUSTOMIZATION - changing the delivered product or service based on a user's preferences or prior behavior.
• BUSINESS-TO-CONSUMER (B2C) E-COMMERCE online businesses selling to other idividual consumer
• BUSINESS-TO-BUSINESS (B2B) E-COMMERCE online businesses selling to other other businesses
• CONSUMER-TO-CONSUMER (C2C) E-COMMERCE consumers selling to other consumer
• MOBILE E-COMMERCE (M-COMMERCE) use of mobile device to enable online transactions
• SOCIAL E-COMMERCE e-commerce enabled by social networks and online social relationship
• LOCAL E-COMMERCE e-commerce that is focused on engaging the consumer based on his or her current geographic location
• Buyers - these are people with money who want to purchase

  a goods or services.
• Sellers - these are the people who offer goods and services

  to buyers.
• Producers - these are the people who create the products

  and services that sellers offer to buyers.
• E-Commerce primarily involves transactions that cross firm

  boundaries. E-business primarily involves the application of digital

  technologies to business processes within the firm.
• Commerce is the exchange of goods and services for money

  consist of: buyers, sellers, producers.