MAR 28 2020

E-commerce- The new smart way of doing business.

Aafreen Mody

TAGS : Ecommerce, Business to Consumers, Consumer to Consumer , Business to Government, E-mail network, marketing, websites, Apps

E-commerce- The new smart way of doing business.

The dramatic yet very fast change in the field of information and technology specially in the previous decade within the history of the Indian economy. It has given a very new concept of marketing which the buyer and the seller do not see each other face to face nor see the goods physically. The whole transaction is carried out with the help of an ‘on-line’ communication wherein a mutual trust is built irrespective of knowing each other. The entire deal is carried out with the help of a computer –telecommunication and networking with
associated hardware or even on a smartphone that would have an internet connection.

In the e– commerce, the internet provides information about the various goods and services a particular organization has to offer. It indeed is a way of conducting, imaging and executing business transactions and services through electronic media and net-working in computers and communication net-work, websites, smartphones and in order to build the blind trust, e-mails are sent and resorted by not only the organization but also the customer. This is done to assure that your transaction or order details have been taken into account by the organization.

Customers know almost all details about the goods and services displayed on the websites of various organizations sitting at home. The manufacturers, distributors, suppliers and services providers let the consumers know about their product quality, price, size, color, etc. through multi-colored catalogs on the websites. The consumers can surface various web sites and compare their relative prices, quality characteristic, features and other specifications as per their own requirements of the product. These details can be obtained from suppliers around the globe. The websites are available besides for goods for direct selling, context selling, financial and other services such as hospitals, education, training, advertisements, property, entertainment, product demonstrations, bill payment, exchange and all other services which one can possibly think of. The types of selling through the use of the internet and other electronic devices can be of the following types:

1. Business to Consumers (B2C):
When business is sold to consumers or customers it is called B2C and it is the most important element from our point of view. The products include items sold in different departmental stores, medicines at the chemist shops, groceries from the grocery stores, books, stationery, clothes, vegetables, fruits, and whatnot. Many service sectors are adopting this model.

2. Consumer to Consumer (C2C):
Under this system when some consumer wants to dispose of their old items, they can take the help of selling through the internet as it is accessible from any part of the world irrespective of any country that you belong to. Let us not forget that this type of e-commerce is not very common at least in India and the business is more or less negligible.

3. Business to Government (B2G):
Business house or on individual business has to file income tax and sales tax returns and various types of other returns mandatory. As yet this requires the filing of return in respective offices and also applies for approval in concerned offices. As of now, many countries allow this type of activity through e-mail or popular e-commerce. However, the governing bodies make their bit by hook or by crook, by taxes or by extra charges.

4. Government to Consumer (G2C):
In order to provide facilities to the common man or the public and speed up the information process and records, the government in many cases provides records of information. Through this system, the sale of documents, passport forms, copies of returns, etc are supplied through e-mails or scanned documents and are shared with the oppositions. The main features of e-commerce is that one does not physically feel an item nor sees it and places an order on the basis of information supplied through the respective website or in response to consumers' inquiry, as yet e-commerce has last preference for daily consumption items. Most customers also rely on the feedback of the previous customers which are usually posted under the product description. It is largely limited to durable goods like computers, TVs automobiles, books, travel reservations. In the case of service, it is becoming popular for banking and share purchases precisely. Key players in e-commerce are undoubtedly consumers and sellers.
5.E-mail network: Briefly, E-commerce requires the visit of various websites, selection of products, select a payment mode, the realization of money (which is done before dispatch) and dispatch of goods.