The modern and emergent business strategy over the internet which has changed the vision of business management periodically and the manner in which Information Technology has become a wide prospective over the years. E-Commerce is at the stage of expanding its horizons with new and innovative ideas and broadens our vision.
The focus is to build relationship with new as well as existing clients. E-Commerce has changed the technique of business operations successfully (i.e. re-engineering of business process). It is a methodology in which the business among enterprises, suppliers, employees and customers work together to arrive at accomplishments and expansions. The Technology used in the formation of E-Commerce is in the form of Internet, Web browser, Website, E-Commerce software, Web Content Management tools.
Basically for a website to run in a proper manner, it is very important to have co-ordination among these vital components for every Business to work successfully. The following are:-
- Facilitate Buyers
- Facilitate Sellers
- Facilitate Financial Organizations
- Facilitate Sellers to notify Logistics Organizations
E-Commerce has attained growth enormously as compared to the traditional methods of Commerce. The new methodologies are in the areas of:-
- Transaction processing has been automated
- Involvement of associated human being on every point of transaction
- Use of Creative marketing strategies
- Unproblematic Business Transaction communication
- Worldwide market readily accessible
- Advertisement of services at a lower cost with the use of social media with high returns
- Cost cutting to attract customers
- Emerging trends in doing business
- Digitalization
- Consumes a smaller amount of time and generate less errors
- Improved customer response time
- Chain links in terms of tie-ups for the delivery of products and information via emails and text messages
- Advanced and Improved service value
- Inventory and Warehousing overhead costs reduced
- Saves Money and Time
- Reduced Business Transactions
- Increased profits
- 24*7, 365 days a year
- Use of Smart-Cards, Digital or Electronic cash, Electronic checks and Electronic wallets
- CoD (Cash on Delivery) was started some time ago but with the recent development with the concept of ‘Try-n-Buy’ started with Yebhi.com, a new launch in E-Commerce.
- Speedy development and modernization in markets
- Changing market strategies
- Universal standards
- Customers support
- Social Connectivity
- E-Commerce Subscription to get weekly and monthly discounts on purchase
E-Commerce is wide-ranging subject which deals into areas related in emerging newest business and acquiring trends over the Internet. The areas namely are:-
- Customer to Business
- Business to Business
- Business to Customer
- Customer to Customer
- Intra – Organization
The new and the foremost subject of conversation is Facebook which is a new place of E-Commerce where many small and large businesses are selling and buying products all over the world. Facebook has become a tool to generate business by making their pages along with their personal websites. Few of them are Flipkart.com, Snapdeal.com, Fashionandyou.com, Myntra.com, InkFruit.com, Dealsandyou.com, Ebay, HomeShop, Infibeam.com, 99Labels.com, RediffShopping, Yebhi.com, Zoomin, 20North.com, Indiangiftsportal, MagazineMall, BindassBargain, Buytheprice.com, Perfume2Order, Timtara.com, Caratlane.com, Naaptol, Fernspetals. Considering these few examples marketing strategy has changed in a wide range of potential with the help of technology and network used effectively in e-commerce to achieve Business goals.
There are certain types of services being provided with the advancement of E-Commerce. The following fields are:-
- Activity (Movie on Demand, Games, Online Discussions)
- Economic Services (Home Banking)
- Vital services (Home Shopping, Electronic Catalogs, Telemedicine, Remote Diagnostics)
- Learning and training (Interactive Learning, Video-Conferencing, On-Line Databases)
E-Commerce sites must have the vision as well as strategy-related knowledge to generate business for their sites. SEO and E-Commerce both are related to each other because SEO helps in generating large amount of traffic for online websites and creating Baclinks for site popularity. SEO brings a lot of growth opportunity for E-Commerce sites and even have wide range of business plans related to smooth functioning and popularity of the websites. So it is very important to create links with respect to SEO, SEM, and SMM. According to the some people working in this industry believes that 2010 will be the tipping point for E-Commerce.
