E-Commerce Basics You know your excited

Electronic commerce (e-commerce, EC) describes the buying, selling, transferring or exchanging of products, services or information via computer networks, including the Internet E-business is a broader definition of EC, including buying and selling of goods and services, and also servicing customers, collaborating with partners, conducting e-learning and conducting electronic transactions within an organization. E-Commerce

Business applications of E-Commerce Pillar for many start-up companies Low Entry Costs Reduced Transaction Costs Access to Global Market Market Brand on the Internet Can be Business to Business (B2B) Business to Consumer (B2C) Consumer to Business (C2B) Consumer to Consumer (C2C) Business-to-business (B2B): both the sellers and buyers are business organizations. B2B represents the vast majority of e-commerce. Business-to-consumer (B2C): the sellers are organizations and the buyers are individuals. Consumer-to-consumer (C2C): an individual sells products or services to other individuals. Business applications of E-Commerce

E-Commerce Types Business to Business (B2B) Business to Consumer (B2C) Refers to the commercial transactions between two businesses Mostly Industry Specific The Buyer and Seller are two different entities in the same industry Example: Dell Computer buying parts Business to Consumer (B2C) Transaction take place between the consumer and companies Provides direct selling through internet. Consumer can gain more information and compare products Storefront is where the transaction takes place E-Commerce Types

E-Commerce Types Consumer to Business (C2B) Consumer to Consumer (C2C) Transactions that take place between consumers and business The “storefront” is where the transactions actually take place Available anytime of day Consumer to Consumer (C2C) A consumer has an item they no longer need and sell it to another consumer Classifieds where an advertisement is posted to a website E-Commerce Types

Anatomy of E-Commerce Applications Multimedia content Multimedia storage servers Electronic Payment System (EPS) Anatomy of E-Commerce Applications

Essential Elements of an E-Commerce Website Online Product Catalog Quirky and descriptive details Shopping cart Buying options Availability in the addressed area Payment methods Essential Elements of an E-Commerce Website

Payment Methods Digital Wallet Secure Socket Layer (SSL) Payment Gateways Smart Cards (Debit/Credit) Payment Methods

PROS and CONS PROS CONS No checkout lines Reduced Prices Can shop anywhere in the world 24 hour access CONS Unable to examine the item personally Not all sellers are on the internet Higher possibility of credit card theft Lower stock availability PROS and CONS