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Electronic commerce and its types
Electronic commerce is also known as E-Commerce basically consists of purchase, distribution, marketing, sale and provision for the supplementary info of services and products via theinternet. It is also understood by transfer of information between different enterprises.
Companies involved in electronic commerce business either have their exchanges in a different way and they are:
- Organisation to organization
- Organisation to customer
- Buyer to organization
- Buyer to consumer
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Components of Electronic Commerce
E-commerce or electronic commerce can be divided into three components and they are:
- Financial Institutions
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What are the uses of electronic commerce?
There are some noted uses of electronic commerce and they are:
- It is useful for investigating a nascent business enterprise
- It is also helpful for empowering different customers.
- E-commerce can also expand income
- It also consolidates exchange
- The most important is it is used to increase the exchange of the given organization
- Last but not the least it also encourages the dependency on system type of association in which there are new adaptable firms depending on another accomplice.
Pros of Electronic Commerce
There are different types of pros related to electronic commerce, and they are:
- Consumers’ advantage
- Organisational advantage
- Societal advantage
- It gives substitute of virtual barters
- It gives consumer more decisions
- It develops the brand value of the organization
- It also enhances the form of the organization and makes it faster and proficient
- It helps to bolsters government in order to pass on open companies
- It also involves way to advantages to commonplace areas likewise which are not open to them.
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