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Introduction To E-Commerce

E-commerce is defined as the buying and selling of goods and services over electronic networks, primarily the Internet. It offers advantages like faster transactions, 24/7 availability, and lower costs. However, it also poses disadvantages such as lack of quality guarantees, technical issues, and security risks from hackers. E-commerce technologies include electronic markets (allowing buyers and sellers to exchange price/product information), Internet commerce (online shopping), and electronic data interchange. While e-business encompasses all business operations conducted electronically, e-commerce specifically refers to online buying and selling.

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81 views2 pages

Introduction To E-Commerce

E-commerce is defined as the buying and selling of goods and services over electronic networks, primarily the Internet. It offers advantages like faster transactions, 24/7 availability, and lower costs. However, it also poses disadvantages such as lack of quality guarantees, technical issues, and security risks from hackers. E-commerce technologies include electronic markets (allowing buyers and sellers to exchange price/product information), Internet commerce (online shopping), and electronic data interchange. While e-business encompasses all business operations conducted electronically, e-commerce specifically refers to online buying and selling.

Uploaded by

PIYAL ROY
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© © All Rights Reserved
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BRAINWARE UNIVERSITY

[DCSE604] CLASS NOTES [E-Commerce]

Definition of E-commerce -- electronic commerce or EC -- is the buying and selling of goods


and services, or the transmitting of funds or data, over an electronic network, primarily the
internet. These business transactions occur either as business-to-business, business-to-consumer,
consumer-to-consumer or consumer-to-business.
Advantages of E-commerce:

 Faster buying/selling procedure, as well as easy to find products.

 Buying/selling 24/7.

 More reach to customers, there is no theoretical geographic limitations.

 Low operational costs and better quality of services.

 No need of physical company set-ups.

 Easy to start and manage a business.

 Customers can easily select products from different providers without moving around
physically.

Disadvantages of E-commerce:

 Any one, good or bad, can easily start a business. And there are many bad sites which eat
up customers’ money.
 There is no guarantee of product quality.

 Mechanical failures can cause unpredictable effects on the total processes.

 As there is minimum chance of direct customer to company interactions, customer


loyalty is always on a check.
 There are many hackers who look for opportunities, and thus an e-commerce site, service,
payment gateways, all are always prone to attack.

2021-22 Prepared by: Ritesh Prasad (Brainware University, Barasat )


BRAINWARE UNIVERSITY
[DCSE604] CLASS NOTES [E-Commerce]

E-commerce technologies;

E-commerce is typically seen as being constituted of three technologies. These are


Electronic Markets, Internet Commerce and Electronic Data Interchange.
(1) An electronic market place can be defined as: An information system that allows
participating buyers and sellers to exchange information about price and product offerings.
In terms of economics, a market is effective (a) when there are as many buyers as sellers and
none of them dominates and (b) when the goods or services to be transacted are homogeneous or
standardized.
Another factor that has bearing of the effectiveness of markets is whether buyers and sellers are
well informed about the quantity, characteristics and price of the goods.
Electronic markets offer customers the advantage of easy, quick access to comparative
price/service information. Suppliers gain in terms of the access to a larger, global market.
But the fact that customers have access to easy price, feature & quality comparison makes
the environment harder for suppliers.
Online travel agents, comparison shopping sites and shop-bots are ways that electronic markets
are implemented.
(2) Internet Commerce refers to shopping transactions made by customers over the Internet
using a browser and advertising done targeted at customers who use the Internet.
What is e-Business?

The facts that e-Business and e-Commerce are terms that have come into existence very recently
and that the boundaries of what each encompasses is still fluid make absolute definitions
distinguishing one from the other difficult. Quite often, the two terms are used interchangeably.
For our purposes, we will define e-Business as the use of electronic means to conduct internal
and external business operations. E-Commerce, we view as a part of e-Business – the part
that involves buying and selling online.

2021-22 Prepared by: Ritesh Prasad (Brainware University, Barasat )

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