1.4 E-Commerce

 1.4 E-Commerce

 

Ecommerce refers to the buying and selling of goods or services using the internet.

E.g. Amazon, Flipkart, eBay, sastodeal, daraz etc.

The main goal of e-commerce is to reduce

cost, faster customer response and deliver the better quality service.

 

Types of Ecommerce Models

a)     Business to Consumer (B2C):
When a business sells a good or service to an individual consumer (e.g. You buy a pair of shoes from an online retailer).

b)     Business to Business (B2B):
When a business sells a good or service to another business (e.g. A business sells software-as-a-service for other businesses to use)

c)     Consumer to Consumer (C2C):
When a consumer sells a good or service to another consumer (e.g. You sell your old furniture on hamrobazar to another consumer).

d)     Consumer to Business (C2B):
When a consumer sells their own products or services to a business or organization (e.g. An influencer offers exposure to their online audience in exchange for a fee, or a photographer licenses their photo for a business to use).

 

 

 

Advantages of E-commerce

·       It makes buying/selling possible 24/7.

·       It makes buying selling procedure faster, as well as easy to find products.

·       There are no geographical boundaries for e-business. Anyone can order anything from anywhere at any time.

·       Higher quality of services and lower operational costs.

 

Disadvantages of E-commerce

·       Need to be careful about the quality of product and service delivery.

·       Lack of personal touch. We cannot touch the goods physically.

·       Technical failure may affect the business system.

·       We cannot do any transaction without Internet access device.

 

M-Commerce / Mobile Commerce

M-Commerce refers to the process of

buying and selling of goods and services through wireless handheld devices such as smartphones, tablets or personal digital assistants (PDAs).

 

The term itself was coined in 1997 by Kevin Duffy.

 

Examples: Purchasing airlines, movie tickets, Restaurant / Hotel booking and reservation, Fund Transfer, Top – Up Charges etc.

 

 

Advantages of M-Commerce

·       It provides a very convenient and easy to use the system to conduct business transaction.

·       It helps to get wider variety of products and services.

·       It saves both the time and energy of the user.

·       It reduces the costs of the business organizations.

Disadvantages of M-commerce

—  It has great start-up costs and many complications arise.

—  Without accessing the internet connections user will not be able to receive any data to purchase.

—  It has the issue of security of the customer’s private information.

—  Mobile payment options are not available in every geographic location.

 

Online Payment

Online payment refers to the payment for buying goods or services through the Internet using different online payment gateway.

E.g. eSewa Nepal, iPay, Khalti, e-banking, etc.

 

Advantages of online payment

·       Digital Payment can be done at any time, from any location around the globe. 

·       It makes huge money transactions easier and faster. 

·       It offers higher payment security. 

·       There’s no risk of your money getting stolen or lost when you pay online.

Disadvantages of online payment

·       We need to pay third-party payment service charges.

·       Not all shops are equipped with the facility of online payment..

·       It might create privacy issues.

·       Account can be hacked and money can be misused.

 

E-commerce	M-commerce
Any kind of commercial transaction that is conducted, over the internet using electronic system is known as e-commerce.	M-commerce refers to the commercial activities which are transacted with the help of wireless computing devices such as cell phone or laptops.
Device used are computers and laptops	Device used are Mobiles, tablets, PDA's, iPad etc.
Users can make transactions on their computers and laptops with limited mobility	Users can make transactions everywhere as long as they are connected to the Internet.

 

 

“He who asks a question is a fool for five minutes; he who does not ask a question remains a fool forever.”