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Subject: English Theme: e-commerce companies. Plan
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| bet | 1/2 | | Sana | 31.01.2023 | | Hajmi | 17.5 Kb. | | #40432 |
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Subject: English
Theme: E-commerce companies.
PLAN:
What is e-commerce
Types of commerce
Advantage and Disadvantage of e-commerce
B2B, B2C, C2C, C2B in e commerce
Trade cycle in e-commerce
E-commerce has been around for a long time. It started with Phil Brandenberger, a man who purchased the first online product – “Ten Summoner’s Tale” studio album from Sting in 1994. Twenty seven years later, in 2021, online commerce took over the market. It is estimated that e-retail sales worldwide will soon grow up to 4,8 trillion dollars. E-commerce is progressing so significantly that it may soon be serving 2.14 billion people.
Commerce
Commerce is buying and selling of goods. It has been around for many years staring from barter system where there was just exchange of goods to using precious metals to using coins and then paper money and plastic money.
Traditional Commerce
Process of buying and selling of goods face to face.
*Business happens face to face
*Limited to particular geographic location
*There is personal interaction
*Delivery of goods is instantanous
*Limited to certain business hours typically during day time
With the advent of internet came in e-commerce
E-Commerce
E-Commerce can be defined as the process of buying and selling of goods or services using an electronic medium such as internet. Example: Amazon, Flipkart, OLX group etc.
*Sale happens online
*You can potentially sell across the world
*There is limited personal intraction
*Delivery of goods and services might take some time
*It is available 24/7 and can be done day or night
E-commerce is popular today. E-commerce is also extended to mobile and social media network when we say mobile commerce.
Today you are able to do any transactions from your smartphone or tablet. Like mobile banking bill payments ticket booking etc. In addition there is rise of social commerce which is use of social media sites like instgram, telegram to promote and sell products and services.
There are multiple ways by which you can make payments online.
You can use credit or debit cards like cards issued by mastercard and visa. You can use prepaid cards like gift cards. You can also do net banking where if you are enrolled in internet banking. You can choose your bank and do direct bank transfer. Example through neft and ms you can also use e-wallet which is like a prepaid card or it is linked to your bank account which you can use for online transactions. Example paytm wallet now it is mobile payments using upi is becoming common like google pay beam etc. Upcoming trends include dugutal currency like bitcoin or ethereum.
The Advantages
* Available 24/7
*Provides a global reach
*Sellers and buyers can virtually meet anytime, anywhere
*Mo need for intermediaries
*Provides user with options to compare and select best option
*Reduces paper work
*Lowers the transaction cost
The Disadvantages
*Lack of personal touch
*Requires an intial setup cost for hatdware, software etc
*Sometimes there are problems with order fulfilment or returns
*Security is a key concern
-Indentify Theft
-Malware
-Denial of Sevices
Primarily e-commerce is of four types
First is B2C in this model
Business sells its product directly to customers.
A customers can view the product shown on the website and order the same example amazon or express 24.
Second B2B in this model
Business sells its product to intermediate buyers who then sells the product to the final customer, for example a company might sell its product to a wholesaler who will sell it to multiple retailers at some price markup.
Third C2C
C2C model where a consumer sells any of their assets by publishing the information on the website for another interested consumer can view and do the purchase. Example buying or selling on olx or avtoe’lon.
Fourth C2B
Customer to business in this model consumers have product or services of value that can be consumed by business. For example social media influencers being paid by business to advertise their products e-commerce follows a typical trade cycle or flow.
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