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e-Commerce
Electronic commerce (also referred to as EC,
e-commerce or ecommerce) consists primarily of the
distributing, buying, selling, marketing, and
servicing of products or services over electronic
systems such as the Internet and other computer
networks.
The information technology industry might see it as
an electronic business application aimed at
commercial transactions; in this context, it can
involve electronic funds transfer, supply chain
management, e-marketing, online marketing, online
transaction processing, electronic data interchange
(EDI), automated inventory management systems, and
automated data collection systems.
Electronic commerce typically uses electronic
communications technology of the World Wide Web, at
some point in the transaction's lifecycle, although
of course electronic commerce frequently depends on
computer technologies other than the World Wide Web,
such as databases, and e-mail, and on other
non-computer technologies, such as transportation
for physical goods sold via e-commerce.
According to Forrester Research (as cited in
Kessler, 2003), electronic commerce in the United
States generated sales worth US $12.2 billion in as
of 2003.
Success factors in e-commerce. Such factors
include:
Providing value to customers. Vendors can achieve
this by offering a product or product-line that
attracts potential customers at a competitive price,
as in non-electronic commerce.
Providing service and performance. Offering a
responsive, user-friendly purchasing experience,
just like a flesh-and-blood retailer, may go some
way to achieving these goals.
Providing an incentive for customers to buy and to
return. Sales promotions to this end can involve
coupons, special offers, and discounts. Cross-linked
websites and advertising affiliate programs can also
help.
Providing personal attention. Personalized web
sites, purchase suggestions, and personalized
special offers may go some of the way to
substituting for the face-to-face human interaction
found at a traditional point of sale.
Providing a sense of community. Chat rooms,
discussion boards, soliciting customer input and
loyalty programs (sometimes called affinity
programs) can help in this respect.
Owning the customer's total experience. E-tailers
foster this by treating any contacts with a customer
as part of a total experience, an experience that
becomes synonymous with the brand.
Letting customers help themselves. Provision of a
self-serve site, easy to use without assistance, can
help in this respect. This implies that all product
information is available, cross-sell information,
advise for product alternatives, and supplies &
accessory selectors.
Helping customers do their job of consuming. E-tailers
and online shopping directories
can provide such help through ample comparative
information and good search facilities. Provision of
component information and safety-and-health comments
may assist e-tailers to define the customers' job.
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