eCommerce is the buying and selling of goods and services online. The main root of the word “commerce” is defined as the exchange of goods and services between businesses, people, or entities. Add an e to the beginning of the word, and it simply refers to the same thing when it’s done via the web. Any time you make a purchase online, you’re participating in eCommerce. And if you sell items or services through a website, then you have an eCommerce business.
1. What is E-commerce?
Ans: E-commerce or electronic-commerce is the buying or selling of goods, products or any services online over the internet.
2. What are the advantages of E-commerce?
Ans: Customers can spend less time shopping for what they want. They can easily browse through many items at a time and buy what they like. When online, customers can find items that are available in physical stores far away from them or not found in their locality.
The advantages of E-commerce are listed below:
a. Does not required physical stores.
b. Low operational costs and better quality of services.
c. No need of physical company set-ups.
d. Faster buying/selling procedure, as well as easy to find products.
e. Buying/selling anytime and anywhere is possible.
f. As there are no geographical limitations, can deliver service globally.
3. What are the disadvantages of E-commerce?
Ans: Running a business that is e-commerce is not always rainbows and unicorns. There are unique challenges to this business model learning about them will help business people navigate the choppy waters and avoid common pitfalls.
The disadvantages of E-commerce are listed below:
a. Security issues.
b. Site crash.
c. No possibility of tried and tested product.
d. Late delivery.
e. Some products are difficult to buy online.
f. Lack of privacy.
g. Tax issues.
h. Legal issues.
4. What are the types of E-Commerce?
Ans: The first step in starting your online business is understanding the different eCommerce business models. Typically, eCommerce businesses fall into one of the following four categories.
The types of E-commerce are listed below:
a. Business-to-Business (B2B)
b. Business-to-Consumer (B2C)
c. Consumer-to-Consumer (C2C)
d. Consumer to Business (C2B)
e. Business to administration (B2A)
f. Consumer-to-administration (C2A)
g. See also.
5. What are the importance of E-commerce?
Ans: Electronic commerce or ecommerce is a term for any type of business, or commercial transaction that involves the transfer of information across the Internet. It 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. It is currently one of the most important aspects of the Internet to emerge.
Ecommerce allows consumers to electronically exchange goods and services with no barriers of time or distance. Electronic commerce has expanded rapidly over the past five years and is predicted to continue at this rate, or even accelerate. In the near future the boundaries between “conventional” and “electronic” commerce will become increasingly blurred as more and more businesses move sections of their operations onto the Internet.
The importances of E-commerce are listed below:
a. It helps to choose from a wide variety of products
b. It helps to get the goods and services in low cost as compared to traditional shopping
c. It provides exciting deals and offers
d. It maintains transparency in the business.
e. It helps to create more employment opportunities.
f. It enhances digital products and services production.
g. It needs low maintenance cost.
What is m-commerce
What is m-commerce
6. What is m-commerce?
Ans: 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).
7. List any four applications of m-commerce?
Ans: The applications of m-commerce are listed below:
a. Mobile banking
b. Mobile ticketing and booking
e. Network Marketing
g. Business Process Outsourcing
i. Knowledge Process Outsourcing
j. Digital Economy
8. What are the advantages of m-commerce?
Ans: The advantages of m-commerce are listed below:
a. It creates a global customer base.
b. It opens up rural markets.
c. It creates more access to user data
d. It provides easier inventory management.
e. It allows you to scale a business very quickly.
f. It provides a platform for large order processing.
g. It is easier to remarket to customers with m-commerce.
h. It offers a platform that encourages impulse purchases.
9. What are the disadvantages of m-commerce?
Ans: The disadvantages of m-commerce are listed below:
a. It requires technology access.
b. It offers a lack of personal touch.
c. It requires the app or website to be working.
d. It requires faith in the product.
e. It is a highly competitive marketplace.
f. It must have fast services available at all times.
g. It requires you to ship products to consumers.
10. What is online payment?
Ans: The process of exchanging money electronically over the internet is known as online payment. Online payment refers to money that is exchanged electronically. Typically, this involves use of computer networks, the internet and digital stored value systems. When you collect a payment over the internet, you are accepting an online payment. Online payment usually is the transaction that results in transfer of monetary funds from the customer bank or credit card account to your bank account. The online payment can be done from a credit card, checking account or other clearing house like PayPal for example.