Thursday, 9 November 2017

E-Commerce


E-Commerce is a transaction of buying or selling goods online.
"Electronic commerce (e-commerce) is a type of business model, or segment of a larger business model,
that enables a firm or individual to conduct business over an electronic network typically the internet".
when you purchase a goods or service online, you are participating in e-commerce.

E-commerce is about doing business electronically. It is based on the electronic processing and transmission of the data including text, sound and video.

Electronic commerce involves performing commercial operations electronically. It has emerged as an important application of information technology in the modern society.
Traditionally, buyers and sellers used to meet physically to perform commercial activity, whereas in e-commerce the contact between buyers and sellers is completed through the use of information technology.

It encompasses diverse activities including electronic funds transfer, electronic share trading, electronic bill of lending, commercial auctions, collaborative design and engineering, online sourcing public procurement, direct consumer marketing and after sales service. It involves both, product (e.g. consumer goods, specialised medical equipment) and services e.g. (information service, financial and legal services.

From the above, it can be clear that e-commerce is not the mere buying and selling of goods but includes many commercial activities.

1 comment:

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