Premium Essay

E-Commerce the Exchange

In: Computers and Technology

Submitted By mariagodines
Words 1377
Pages 6
E-COMMERCE: THE EXCHANGE
Your Name Here
College Here

Abstract
Through the innovations of technology evolved e-commerce. E-commerce is a form of business where transactions or facilitation of business are done on the Internet (Khurana, n.d.). E-commerce “eliminates limitations of time and geographical distance,” as well as “streamlines operations and lower costs” (Khurana, n.d.). Through e-commerce startup, businesses can either do exceptionally well or fade out. The businesses that will exceed make use of resources available to them, as well as having knowledge about their customer base and competitors. The ExchangeHunterJumper.com is an e-commerce business that will be reviewed to discuss how the owner made her business successful through the customer base, competition, social media, user-friendly web pages, and customer personalization in e-commerce.

E-Commerce: The Exchange E-commerce is an evolution of the Internet. According to Laudon & Travor (2012) the Internet has three stages of development: 1) Innovation, 2) Institutionalization, and 3) Commercialization. Innovation stage was through the period of 1961-1974, in which the fundamental building blocks are conceptualized and realized in hardware and software. Institutionalization stage was through the period of 1975-1995, in which large institutions provide funding and legitimization for the Internet. Commercialization stage is through the periods of 1995 to present, in which private corporations take over and expand Internet backbone and services to ordinary citizens. E-commerce today is widely used by businesses and individuals for many reasons. For example, small and large businesses use e-commerce to maximize business opportunities. Starting out as a small business to fill a niche in the horse show circuit, Dagny Amber Aslin founded and now owns ExchangeHunterJumper.com (The…...

Similar Documents

Premium Essay

E-Commerce

...an exciting age of human innovations where a single generation can witness extreme shifts in technology and way of life. One of the most significant forces driving this development is the ability to record and deliver information across distances and at rates expanding exponentially. This is also referred to as the information age. Digital technology has changed the economy. The new terminology being used is e-marketing where the primary source of value creation for consumers has shifted from physical goods to services and information. This does not mean that everything we previously knew about business becomes irrelevant and obsolete, but it does mean that significant changes in business environment justify new approaches to thinking of the best marketing strategy and management. In summary E-commerce can be defined as an exchange of goods and services between parties, individuals and organizations as well as the electronically based intra and inter organizational activities that facilitate such exchanges.(Dave.C.,2007,p,4) There are four categories of E-commerce:- a) Business to business b) Business to consumer c) Consumer to business d) Consumer to consumer Most business still carries out the traditional ways of conducting business. This is by having a physical address where they have their products and services and translations are made there. Due to the new dot com community and ways of doing business many businesses have taken up the......

Words: 3079 - Pages: 13

Premium Essay

E-Commerce

...Bushry (2005) defines electronic commerce as „an emerging concept that describes the process of buzing and selling or exchanging of products, services and information via. telecommunication and computer networks including the Internet“ (p. 1). Bajaj and Nag (2009) notice that „E-commerce not only automates manual processes and paper transactions, but also helps organizations move to a full electronic environment and change the way they operate“ (Nansi, 2004, p. 14). In a word, E-commerce today involves business information sharing, business relationships maintaining, and business transactions conducting by telecommunications networks (Web catalogues, advertazing and other). Besides, e-commerce considers electronical orders of products and services, payments (traditional payment, by credit cards, EDI, digital money), form filling (Web form, e-mail, faxing and others), services and technical support (Frequently Asked Questions, e-mail, bulletin boards and others). One of the major advantages of e-commerce is low connection and usage prices and multichanelled access and delivery. On the other hand, M-commerce reffers to mobile commerce and it “is defined as the exchange or buying and selling of commodities, services, or information on the Internet through the use of mobile handheld devices.” (p. 1-2). In another words, mobile commerce refers to the implementation of e-commerce over wireless devices. It is commercial mobile computing application based on wireless......

Words: 2197 - Pages: 9

Premium Essay

E Commerce

...E commerce The purpose of this assignment is to “demonstrate an understanding of information systems, define and display how information technology may be used strategically in organizations.” The following discussion specifically focuses on the electronic business of E-Commerce and identifies how this industry uses information technology to compete, provide goods/services and offer innovative trends within the consumer market place. Characterizing Commerce Commerce is generally defined as “a division of trade or production which deals with the exchange of good and services from a producer to the consumer.” It also encompasses the “trading of information and funds or other entities” that maintain economic value. Characterizing E-Commerce E-Commerce is commonly referred to as “electronic marketing.” It consists of buying, selling or the exchange of goods and services over an electronic medium such as the internet or other computer based networks where a transaction or “terms of sale” are performed electronically. E-Commerce Popularity Since the advent of the internet and the potential uses information technology brought to the business environment, nearly all main stream commerce related industries discovered an opportunity to establish a presence in the electronic marketing environment due to the low entry cost and reductions in transaction expenses that provided increasing access to a “global” market place, which could also maintain and secure...

Words: 1716 - Pages: 7

Premium Essay

E-Commerce

...E-Commerce and E-Business E-Commerce (EC): Electronic commerce encompasses the entire online process of developing, marketing, selling, delivering, servicing, and paying for products and services transacted on internetworked, global marketplaces of customers, with the support of a worldwide network of business partners. Electronic Commerce can be defined in several ways: 1. From a communication perspective, e-commerce is the ability to deliver products, services, information, or payments via networks such as the Internet and the World Wide Web. 2. From an interface perspective, e-commerce involves various information and transaction exchanges: business-to-business, business-to-consumer, consumer-to-consumer. 3. From a business perspective, e-commerce includes activities that directly support commerce electronically by means of networked connections. 4. From an online perspective, e-commerce is an electronic environment that makes it possible to buy and sell products, services, and information on the Internet. 5. From a structural perspective, e-commerce involves various media: data, text, web pages, Internet telephony, and internet desktop video. 6. As a market, e-commerce is a worldwide network. A local store can open a Web storefront and find the world at its doorstep-customers, suppliers, competitors, and payment services. E-business: Connecting critical business systems and constituencies directly via the Internet, Extranets, and Intranets. It......

Words: 631 - Pages: 3

Premium Essay

E-Commerce

...Introduction of e-commerce Electronic commerce can be defined as sales or purchase of goods and services or any commercial transaction through electronic systems such as internet, telephone and e-mail. There are several forms of e-commerce, including: Business-to-Business (B2B) is the electronic transactions between enterprises for conducting business. Business-to-Consumer (B2C) is the business sell of products or services directly to customers, such as Gmarket, Alibaba etc. Consumer-to-consumer (C2C) is the business conduct between consumers. This usually is a form of auction or forum site, such as E-bay. Consumers post what they intend to sell on the webpage, other consumers can access and bid for the item. Customer-to-business (C2B) is a form of business offered by consumer to business to exchange for money. For example, designers sell a design to a multimedia manufacturing company online. One of the major subset of E-commerce is mobile commerce. It is the sale and purchase of goods or services or conducts any business activities through internet connection using handy devices such as mobile phones and tablets. Mobile commerce is getting popular and can be defined as the next generation of e-commerce. Businesses conduct e-commerce to stay competitive. Some of the businesses are successful with the use of e-commerce, such as online shop Amazon and DBS Bank. Amazon provides a massive range of products. They are focus on their selection, price and convenience. Customers......

Words: 3739 - Pages: 15

Premium Essay

E-Commerce

...Ecommerce Poland is a place of meetings and experiences exchange. During Ecommerce Poland Trade Fair the services and product providers can meet their clients, business partners and trade enthusiasts. The owners of online stores can compare the offers of over hundred Exhibitors and find the most suitable for their store. Ecommerce Poland is the unique place where you can see, hear and try the real e-commerce. Ecommerce Poland since the first edition have gathered over 250 Exhibitors and over 3000 Visitors right now. still has a long way to go to catch up with more developed e-commerce markets in Western Europe. The country ranked last in online retail sales in 2011 of 13 European nations, that also included the Western European countries of Belgium, Germany, France, Denmark, Italy, Luxembourg, Netherlands, Spain, Sweden, Switzerland, the United Kingdom and Norway. And Poland remains far behind Europe’s e-commerce leader, the United Kingdom, where online retail sales will reach 67.4 billion Euros (US$90 billion). Even in Poland, e-commerce is just starting to become a major factor. Online sales will represent just 3.8% of overall retail revenue in Poland in 2012, up from 3.1% last year. But the growth is unmistakable. It is driven in part by Poland’s relatively strong economy, which grew about 4% in 2011 while the European Union’s economy only grew 1.6%, Another factor is that more Polish consumers have access to the Internet at broadband speeds. 18.2 million of...

Words: 728 - Pages: 3

Premium Essay

E-Commerce

...the buying process by engaging different marketing tools, the most prominent being the 4Ps – product, price, place and promotion – also known as the marketing mix (Borden, 1964; McCarthy, 1964). While the value and current standing of the mix as a marketing toolkit is frequently disputed (Dixon and Blois, 1983; Gronroos, 1994; Gummesson, 1997; ¨ Goldsmith, 1999) marketing practitioners nonetheless widely deem the 4Ps as the tools that can influence the consumer’s behavior and the final outcome of the buyer-seller interaction (Kotler and Armstrong, 2001; Kotler, 2003; Brassington and Pettitt, 2003). Abstract Addresses one of the fundamental issues of e-marketing: how to attract and win over the consumer in the highly competitive Internet marketplace. Analyses the factors affecting the online consumer’s behavior and examines how e-marketers can influence the outcome of the virtual interaction and buying process by focusing their marketing efforts on elements shaping the customer’s virtual experience, the Web experience. Identifying the Web experience components and understanding their role as inputs in the online customer’s decision-making process are the first step in developing and delivering an attractive online presence likely to have the maximum impact on Internet users. Click-and-mortar firms delivering superior Web experience influence their physical clients’ perceptions and attitudes, driving additional traffic to traditional sales outlets. Provides a contribution to the......

Words: 10668 - Pages: 43

Premium Essay

E-Commerce

...Tutorial 1 Question 1 Electronic commerce is the process of buying, selling, or exchanging products, services, and information via computer networks. E-business is a broader definition of EC that includes not just the buying and selling of goods and services, but also servicing customers, collaborating with business partners and conducting electronic transactions within an organization. Question 2 Partial e-commerce is when a company will sell a good through the internet but the fulfillment of the good will need to take place in the "real" world. It concerns business in which a large part of the transaction takes place in the off-line real world. For example, buying a book on Amazon, they will have to send it to you physically. Besides that, pure e-commerce is when everything happens on the internet and concerns business whose transactions are largely carried out on the Internet. For example, buying music / movies on iTunes. In these case the product and services are digital. Question 3 The click-and mortar also called as click-and-brick. It define the organizations that conduct some e-commerce activities, usually as an additional marketing channel. Besides that, pure-play also called as virtual organizations. It define the organizations that conduct their business activities solely online. Question 4 The EC framework is made up of the following components: people, the public policy, technical standards and protocols, business partners and support......

Words: 631 - Pages: 3

Premium Essay

E-Commerce

...E-Commerce A Brief Examination of a Popular Electronic Information Technology The purpose of this assignment is to “demonstrate an understanding of information systems, define and display how information technology may be used strategically in organizations.” The following discussion specifically focuses on the electronic business of E-Commerce and identifies how this industry uses information technology to compete, provide goods/services and offer innovative trends within the consumer market place. Characterizing Commerce Commerce is generally defined as “a division of trade or production which deals with the exchange of good and services from a producer to the consumer.” It also encompasses the “trading of information and funds or other entities” that maintain economic value. Characterizing E-Commerce E-Commerce is commonly referred to as “electronic marketing.” It consists of buying, selling or the exchange of goods and services over an electronic medium such as the internet or other computer based networks where a transaction or “terms of sale” are performed electronically. E-Commerce Popularity Since the advent of the internet and the potential uses information technology brought to the business environment, nearly all main stream commerce related industries discovered an opportunity to establish a presence in the electronic marketing environment due to the low entry cost and reductions in transaction expenses that provided......

Words: 1725 - Pages: 7

Premium Essay

E Commerce

...LIMITATIONS OF E-COMMERCE Technical Limitations  Lack of sufficient system's security, reliability, standards, and communication protocols.  Insufficient telecommunication bandwidth.  The software development tools are still evolving and changing rapidly.  Difficulties in integrating the Internet and electronic commerce software with some existing applications and databases.  The need for special Web servers and other infrastructures, in addition to the network servers (additional cost).  Possible problems of interoperability, meaning that some E-commerce software does not fit with some hardware, or is incompatible with some operating systems or other components. Non-Technical Limitations  Cost and justification (35% of the respondents) The cost of developing an EC in house can be very high, and mistakes due to lack of experience, may result in delays. There are many opportunities for outsourcing, but where and how to do it is not a simple issue. Furthermore, to justify the system one needs to deal with some intangible benefits which are difficult to quantify.  Security and Privacy (17% of the respondents) These issues are especially important in the B2C area, and security concerns are not truly so serious from a technical standpoint. Privacy measures are constantly improving too. Yet, the customers perceive these issues as very important and therefore the E-commerce industry has a very long and difficult task of convincing customers that online......

Words: 389 - Pages: 2

Premium Essay

E-Commerce

...E-commerce E-commerce is a way of doing business over large electronic networks such as the internet. E-commerce can be defined as the buying or selling of goods and services over electronic system. E-commerce greatly facilitates transaction between companies and consumers (B2C), between one company to another (B2B) and between the individual consumers (C2C) In e-commerce, exchange occurs between two parties over some electronic medium, typically the internet. These changes are most commonly transactions between companies and consumers, where consumers purchase product by a credit card payment over a secured website. These exchange , however can also include transactions between companies as well as between individuals. An example of B2C e-commerce would be an online store such as Amazon.com. Anyone with internet access and cr card can access the website, browse products and services, make a selection and purchase a product by cr card payment with the assurance of delivery in the mail. An example of e-commerce between individuals or between consumers would be an online market place such as eBay.com. Anyone with internet and cr card can access the website and purchase available products. The difference here is that products are being sold by individual sellers (other consumers) rather than one big online stores. Over the past decade and a half, electronic networks such as the internet have greatly impacted the way commerce and other transactions are conducted.......

Words: 339 - Pages: 2

Premium Essay

E-Commerce

...considerable time after the so called ‘Internet revolution’, electronic commerce, commonly known as e-commerce or eCommerce, remains a relatively new, emerging and constantly changing area of business management and information technology. There has been and continues to be, much publicity and discussion about e-commerce. According to the editor-in-chief of the International Journal of Electronic Commerce, Vladimir Zwass, ‘Electronic commerce is sharing business information, maintaining business relationships and conducting business transactions by means of telecommunications networks’ (Zwass, 1996). However, the term may refer to more than just buying and selling products online. It also includes the entire online process of developing, marketing, selling, delivering, servicing and paying for products and services. The amount of trade conducted electronically has grown extraordinarily with widespread Internet usage and is predicted to continue at this rate, or even accelerate. Electronic commerce covers a range of different types of businesses, from consumer based retail sites, through auction or music sites to business exchanges trading goods and services between corporations (Beyon-Davies, 2009). It is currently one of the most important aspects of the Internet to emerge (Curtis and Cobham, 2005). Although "conventional" commerce is still used by many companies, there is a growing tend to use electronic commerce, as more and more businesses move sections of their......

Words: 2589 - Pages: 11

Premium Essay

E-Commerce

...Draft Final Report E-Commerce in Bangladesh: Status, Potential and Constraints Najmul Hossain December 2000 A report prepared for JOBS/IRIS Program of USAID. The author gratefully acknowledges comments received from Thierry Van Bastelaer, Catherine Mann, Dewan Alamgir, Asif Khan, Abu Saeed Khan, Tahmina Begum, Shabnam Nadiya and Tonmoy Bashar. The views and analyses in the paper do not necessarily reflect the official position of the IRIS Center, the University of Maryland or that of USAID. E-Commerce in Bangladesh: Status, Potential and Constraints ACRONYMS ASM B2B B2C B2G BB BGMEA BTRC BTTB CS DDN DFID DI DSL e-commerce EDF EFT e-mail e-market FDI GOB GSP IDA IOC IPO IPR IRIS ISO ISP IT ITU JOBS L/C LCA LMDS MMDS MOPT NIP OECD OSP Asian Sources Media Group Business-to-Business Business-to-Consumers Business-to-Government Bangladesh Bank Bangladesh Garment Manufacturers and Exporters Association Bangladesh Telecommunications Regulatory Commission Bangladesh Telegraph and Telephone Board Contract System Digital Data Network Department For International Development Data International Digital Subscribers Line Electronic Commerce Export Development Fund Electronic Fund Transfer Electronic mail Electronic Market Foreign Direct Investment Government of Bangladesh Generalized System of Preferences International Development Association International Oil Companies Import Policy Order Intellectual Property Rights Center for Institutional Reform and the Informal Sector......

Words: 16371 - Pages: 66

Premium Essay

E-Commerce

...INTRODUCTION E-commerce also is a short from electronic commerce. It is a process of communication transaction between the buyer and seller. It can be known as a type of business which process with electronically. Normally, most of the people will refer e-commerce as via from internet to selling product, but it also can be covers purchasing mechanisms via internet which is business to business and business to consumers. Electronic commerce is related to business transaction of goods and services conducted between 2 or more parties electronically mainly through open internet based system, for instant the parties can exchange information through internet rather than physical exchange. This type of communication through e-commerce can be known as email, internet, intranet, extranet and so on. In practice, this term and a newer term, e-business, are often used interchangeably. For online retail selling, the term e-tailing is sometimes used. For example, bought or sold anything on e-bay, purchased a book on Amazon, or made any other transaction online you have participated in e commerce.  Electronic commerce that takes place between businesses is referred to as business-to-business or B2B. B2B can be open to all interested parties or limited to specific, pre-qualified participants such as private electronic market. Electronic commerce that takes place between businesses and consumers, on the other hand, is referred to as business-to-consumer or B2C. This is the type of......

Words: 1834 - Pages: 8

Premium Essay

E-Commerce

...E-commerce In its simplest form ecommerce is the buying and selling of products and services by businesses and consumers over the Internet. People use the term "ecommerce" to describe encrypted payments on the Internet. Sometimes these transactions include the real-time transfer of funds from buyer to seller and sometimes this is handled manually through an eft-pos terminal once a secure order is received by the merchant. Internet sales are increasing rapidly as consumers take advantage of lower prices offer by wholesalers retailing their products. This trend is set to strengthen as web sites address consumer security and privacy concerns. There is several ways of looking at e-commerce • Communication perspective • From a business perspective • Interface perspective • From online perspective • Structural perspective • Market perspective Beginning & Future of eCommerce eCommerce basically began (although debated) in 1994 when Jeff Bezos started Amazon.com out of his own garage. Well known eCommerce stores include sites like eBay, Dell, Walmart and many more. Since 1994, businesses of all shapes and sizes have began launching or expanding their Online presence. At any given time, there are approximately 8 million consumers worldwide that actively shop and buy through Web based stores or retailers (nearly one tenth of our world population). Online studies have claimed that online retail revenues will surpass the quarter-trillion-dollar mark by...

Words: 1451 - Pages: 6