Introduction to E-Commerce
E-commerce is defined as the online transaction of business, connecting a vendor or seller and a purchaser. Diverse products and services are being offered, but it’s foundations is that the interactions, deal sign-ups and the payment processes happen online. As reported by www.searchcio.techtarget.com, e-commerce can be split into the following:
E-tailing or “virtual storefronts” on Web sites with online catalogs
Use of demographic data through Web links
Electronic Data Interchange (EDI)
Business-to-business purchasing and trading (B2B)
key facet of e-commerce is online shopping. Online shopping was actually developed by Michael Aldrich in 1979. E-commerce has made a foothold in the today’s world. Almost in every corner of the globe, people have recognized the advancing significance of e-commerce. It gave rise to 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 utilized to execute 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 over the Internet.
4. Online transaction processing – is employed 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 through electronic means.
6. Inventory management systems – it is electronically tracking objects or materials over the use of barcodes, or other automatic identification for the inventory of objects.
Electronic commerce carried on among business is most commonly named 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 aspects 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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