The Foundations Of E-Commerce
E-commerce is defined as the online dealing of business, connecting a vendor or seller and a buyer. Diverse products and services are being offered, but it’s key cornerstones is that the interactions, deal sign-ups and the payment processes happen online. As reported by www.searchcio.techtarget.com, e-commerce can be divided into the following:
E-tailing or “virtual storefronts” on Web sites with online catalogues
Use of demographic data through Web links
Electronic Data Interchange (EDI)
Business-to-business purchasing and selling (B2B)
An important facet of e-commerce is online shopping. Online shopping was actually started by Michael Aldrich in 1979. E-commerce has earned a foothold in the today’s world. Nearly in each corner of the globe, people have acknowledged the advancing importance of e-commerce. It led to the development of electronic funds transfer, supply chain management, internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems.
1. Electronic funds transfer – is the computer-based systems that are used to do electronic financial transactions.
2. Supply chain management – is the management of integrated businesses involved in providing products and services to consumers.
3. Internet marketing – is simply put, the selling of products through the Internet.
4. Online transaction processing – is used to facilitate and handle transaction-oriented applications through data entry and processing.
5. Electronic data exchange – this is the transmission of data among companies or organizations over electronic means.
6. Inventory management systems – it is electronically tracking objects or materials through the use of barcodes, or other automatic identification for the inventory of objects.
Electronic commerce conducted among business is generally called B2B or business-to-business. Meanwhile, electronic commerce carried on between businesses and consumers is called B2C. E-commerce in reality falls under the umbrella of e-business and also covers data exchange for the facilitation of the financial and payment part of business deals and transactions.
Find out more about E-Commerce principles and how you can boost your Company Sales with different Online Marketing strategies.
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