E Commerce And Online Trading Information Technology Essay

E Commerce And Online Trading Information Technology Essay E-commerce has made a great impact on business activity culture. Customer can shop online in privacy at their own houses. This is also strength small businesses to close their doors, or modify to being completely online. It can also change people approach to look at making purchases decision and spending money. Ecommerce also changed the retailer picture, promotions, services, and other things that make our market work. Undeniably, it will continue to pressure how can companies sell and market their products/services, as well as people choose to make purchases in coming years. Selling through the websites is the best method of increasing trade worldwide. Two forms of e-commerce: First form is mostly used as a business trading where companies mostly meet each other and share information through the World Wide Web. The other form is that, where companies taken orders from the customers through web site and also prepared their order to satisfy their need. HASM have many different types of products and services that are traded or selling online including audio equipments new and used both. All companies who used e-tailing or e-trading definitely have their own websites for their business requirement/needs. Trading online Trading online facilitate businesses to attain larger audiences while also cutting the costs of traditional retailing methods of sales. It is not necessary that a web company have to spend on bigger high street markets for their presence. Although the expenditure on developing a good website is substantial and the potential benefits can be massive. Any group of businesses who is running successful business as a result of the development of the web are ability suppliers of items. Ecommerce Impact On Business Impact of Ecommerce on the economy globally Marketing and Product promotion E-commerce helps the products promotion and services during direct sale, information providing and customerà ¢Ã¢â€š ¬Ã¢â€ž ¢s connections. Sales channel/path E-commerce creates a new flow channel for existing products. It facilitates direct contact of customers and the bi-directional contact. Cost Reduction/savings The way of delivering information to end customers over the Internet results in major savings to senders when compared with any method. Most savings also realized in delivering digitized products against physical delivery. Cycle time The delivery of products and services can be reduced to minimum time frame. Also, the organizational work related to corporate delivery facility, also across international borders sale can be reduced considerably, cutting the cycle time by more than ninety percent. Customer service approach Customer service can be greatly improved by enable clients to find comprehensive information online. Also, sharp agents can answer standard quarry in seconds and human experts contact can be expedite using automatic software. Business image New customers can create corporate images very quickly. Corporate reflection means expectation, which is very important necessary for direct sales. Marketing Impacts Customization Ecommerce provide for customization of products/services, in response to buying in a store or ordering through television, which is normally limited to standard products only. Advertising Direct marketing and customization is very effective than mass advertisement. This creates a essential changer in which advertisement is conducted to change the existing customer behaviour with product but also for the new customer demands and their behaviour towards products and services. Ordering System Orders recived from customers can considerably be improved if it is happen by online system and through internet. Through electronically, orders can quickly be sent to the appropriate department and place. This saves time and reduces expenses. This can give sales-work force more time to sell the product/services. Also, customers can add the cost of their orders through saving time for all parties involved inthe activity. Markets The physical market disappears because the need to deliver the goods/services to the market. In market space, an electronic place where items are delivered directly to buyers/suppliers when purchase is completed online and making the markets cost effective and efficient. Technology behaviour and Organizational learning behaviour Speedy progress in Ecommerce customers and staff, companies to settle quickly to the new technology and offer customers an opportunity to deal with new products/services such as HASM in new and used audio systems and tools. Changing Work Nature The work nature and employment also be transformed in the computer Age. The computer Age work force should have to become flexible. Few of them consistently have secure jobs in the complex environment and all of work force/staff have to willing and able to frequently learn skills and make decisions, and stand behind in complex environment. New product features Ecommerce allows new products to be formed and existing products to be modified in innovative ways. These changes may be satisfied organizations missions and the way in which they have to survive. Ecommerce can also allow supply the suppliers to collect personalized customers data sheet and buying behaviour. Building customer profiles on the basis ofcollecting data on certain customers group and can be used as a information source for improving products/services or designing new ones. Manufacturing Impact Ecommerce is also changing manufacturing systems from mass production to the demand and supply chain process and also on the need of customers. Finance Impact Ecommerce needs a very special finance and accounting systems. Traditional payment systems, which are ineffective and inefficient for electronic trade, because there is no physical availability/presence of staff. Ecommerce is any type of business activities that is selling and purchasing of products and services carried out over web based systems for the approach of getting far away customers. Advantages and Disadvantage: HASM electronic commerce is also categorized by advantages and inbuilt drawbacks of web. Some of these important advantages and disadvantages are as follows: With the use of fast and rapid scale of internet technology and strong online techniques and software, companies can get many advantages of Ecommerce but also some disadvantages as well but also having a reason of some problems: Advantages: Fast buying and selling method, as well as effortless to find any products type. Buying convenience and selling convenience, round the clock 24/7. Wider reach to customers, there is no geographic limitations for selling product. As compare to the stores low operational costs for product and better quality of services can be provided. Physical company set-ups are not necessary. Undemanding start and manage a business. Business or individual to reach the global market is simple and easy. Electronic commerce gives the customers the chance to look for cheaper and quality products. Ecommerce cuts down the cost attached with marketing once is being launched and working and also on customer care, processing stage, and information storage and inventory management. Disadvantages: Any one, good or bad, can easily set up a business website and there are many bad sites which fool customers. There is no assurance of product quality. There are many internet hackers just waiting for any opportunity and then an ecommerce site, service, payment gateways can cause attack in any business. Mechanical failures can be reason of unpredictable effects on the total processes. Least chance of direct customer to company interactions, and also customer loyalty is always on a test. Perishable items such as foods are also not very convenient and nor predictable due to small life cycle.