E Commerce & Keeping Up

Posted By on August 22, 2016

With the current rapid changes experienced in the market, it calls for business entities to adopt new techniques to match the market trends. E-commerce has seen the development of modern trading platforms for use by participants in the market to ensure that they offer the best services and goods to their esteemed customers at all times. The very basic need for this action is to make sure that the customers are satisfied at all times wherever they are located and whenever they require the services or goods. One of the major approaches adopted to see this is achieved is the development of commercial transactions over the internet. This is what we call E-Commerce.

E-Commerce is any form of commercial transaction that involves the transfer of information relating to goods or services across the internet. E-commerce may include making purchases, advertising or even consultations. Some of the most common models of E-Commerce include the following; mainBusiness To Business (B2B)This involves transactions between different organizations exchanging ideas of policies such as product development strategies or even consultations on the current market trends.

Business To Business (B2B)

This involves transactions between different organizations exchanging ideas of policies such as product development strategies or even consultations on the current market trends.

Business To Customer (B2C)

In this model, primary participants are the organization and the customers. Where an organization would be communicating to the customer on delivery terms, advertising or provision of information relating to the customer by the business entity.Customer To Business (C2B)This model mainly comprises of feedback that the customers need to deliver to the organization on the quality of the services or products used, suggestions and complaints as well as consultations. Customer To Customer (C2C)Most often consumers of standard goods or services get to gather and share information regarding their experiences on the consumption of various goods or services. The C2C model provides for this interaction where different customers of similar products or services exchange ideas, offer advisory information or give opinions.

 

 

E-Commerce brings with it some advantages which include the following;

1. E-Commerce allows consumers to trade goods and services electronically with no barriers of time or distance.2.It helps build the image of an organization as the customers like being associated with organizations that adopt high-edge technology while at the same time providing to their expectations the required services or goods.3.E-Commerce saves on costs incurred by an organization especially through reduced expenses on marketing which would otherwise involve incorporation of manpower.4.There is improved the quality of services and goods offered as E-Commerce provides for research and strategy sharing platforms within different organizations.

2. It helps build the image of an organization as the customers like being associated with organizations that adopt high-edge technology while at the same time providing to their expectations the required services or goods.3.E-Commerce saves on costs incurred by an organization especially through reduced expenses on marketing which would otherwise involve incorporation of manpower.4.There is improved the quality of services and goods offered as E-Commerce provides for research and strategy sharing platforms within different organizations.

3. E-Commerce saves on costs incurred by an organization especially through reduced expenses on marketing which would otherwise involve incorporation of manpower.4.There is improved the quality of services and goods offered as E-Commerce provides for research and strategy sharing platforms within different organizations.

4. There is improved a quality of services and commodities provided as E-Commerce provides for investigation and plan sharing platforms within various agencies.
E-Commerce just as any other system has some disadvantages and

 

Drawbacks of E-Commerce include

1. There is no direct contact between the customer and the business entity which makes it difficult to establish the nature of the customers an organization has.

2. Not a large number of the customers are conversant with high-edge technologies and as such, E -Commerce does not best serve all customers equally.

3. There is also the risk of fraud while transactions are conducted over the internet and this may lead to loss of money or goods.
In conclusion, it has become essential for organizations to keep in touch with current market trends so as to remain competitive in the market. As such, it would be wise for the business entities to adopt Electronic Commerce in their day-to-day activities. The general public should also make a point of getting used to modern ways of making transactions as this is the current way of life for a simplified mode of business.