Then on the items, such as this site is selling the clothes should be more detailed write the item price, style, color and size, so that the customer more easy to buy. Take the example of Zomato, Swiggy, and UberEATS. Free resources to assist you with your university studies! Personalization- E-commerce technology allows for personalization. Ecommerce provides an opportunity to businessmen to cater to the customers seamlessly without being limited by cultural and national boundaries. Scalability | Characteristics and Features of a Scalable Business, 9 Tough Interview Questions and Their Answers. Looking for a flexible role? Let us first learn what an eCommerce business is? E-commerce technology, allows customers to learn more and more consumers, more efficient use of the information. E-commerce allows your company to reach consumers anywhere in the world. Maintaining global standards helps the users of an eCommerce website to use the website efficiently. There is a transaction risk 12. The standard can make technology business existing become more easily, which can reduce the cost, technique of indirect costs in addition can set the electronic commerce website 10$ / month. Registered Data Controller No: Z1821391. The seven unique features have its own function but also have disadvantages in this website. 7 Unique Features of E-Commerce Technology. Network technical limitations at the time limited the scope of EDI application to expand, while EDI has high requirements for technology, equipment, people, and the price is very expensive. *You can also browse our support articles here >. As a result, eCommerce technologies can adjust to each individual's experience. Increased potential market share and global reach 2. Ecommerce marketplace has the potential to reach millions of worldwide customers. Interactivity- Twentieth Century electronic commerce business technology is called interactive, so they allow for two-way communication between businesses and consumers. adage about keeping it simple. It is an excellent way to increase the traffic on your eCommerce website. All work is written to order. Global reach, or world wide access, is the highest number of potential consumers a business can reach. eBusiness is also about automation. E-commerce is also can do business it can provide a new way to companies of all sizes to create new relationships and extended relational operations on the basis of the now, website and network activity. B2B is a type of between manufacturers and wholesalers or wholesalers and retailers. You can automate many of your in-house procedures using new sources of information. For example, should first website have a variety of linguistic choices can make different national consumers easily understand this website information easy to buy the goods. Besides this, the accuracy and timeliness of the information have also improved. What is B2B (Business To Business)? C2C is the promotion and interaction between benefit and customer. Information Technology B2C is also the trading between consumers. E-business transforms business relationships traditionally working in hierarchy and many indirect connections.The old indirect connectivity and hierarchy was responsible for the market inefficiencies and loss of information. Reporting tool also increases the reliability of your users when they know that they will get help in case something goes wrong with their transaction. To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on UKEssays.com then please: Our academic writing and marking services can help you! For example in this web site to buy clothes but the browsing process found that consumers choose clothes are not enough data to the customer cannot be assured to buy, so in this aspect of the problem should be properly modified and solve this problem. E-commerce levels the playing field for any organization that chooses to participate, small or large. An in-depth understanding of an eCommerce business is required to be established to turn it into a successful business. Much cheaper than traditional business 4. Unfortunately, one segment lags behind all the rest when it comes to online sales: manufacturers. To convert this type of users into buyers, you need to have easy to use eCommerce platform and even more easy to use check out portal. Low cost advertising cost and entry barriers 7. What is C2C (Customer to Customer)? There are many advantages and disadvantages of the E-Commerce and E-Business and those are discussed along with several features of E-Commerce and E-Business regarding the Gift Barn Company which is the biggest E-Commerce and E-Business companies in New Zealand … Keeps your business relevant The internet is a big part of our lives, and isn’t leaving anytime soon. The same platform will contain different offers and recommendations for different people. E-business advantages are based on several key features that should benefit both the business owner and the customer. The seven unique features were Ubiquity: available everywhere and all the time; Global Reach: users or customers can obtain total enterprise electronic commerce; Universal Standards: is shared by all countries around the world standard; Richness: complexity and message content; Interactivity: which allows for two-way communication between businesses and consumers, provide the quantity and quality of information in general; Information Density: to all market participants; Personalization: for marketing message to a specific person, by adjusting the news of interest, the name of a person and past purchases. The electronic commerce technology, reduce the information collection, storage, communication and processing cost. Global Reach- E-commerce allows business transactions on the cross country bound can be more convenient and more effective as compared with the traditional commerce. This information is enticing to hackers and particularly vulnerable to data breaches, so e-business website owners are responsible for incorporating methods, … Customer to customer is to provide location and talk to people, exchange and trading with other people. The seven unique features most in this website is no problem, but the information density has some disadvantages and it’s one of the seven unique features. Related: Introduction & Scope of Emerging Business & Difference Between Traditional Business & E Business? Ubiquity. It is easy to set up 2. Reduces costs of production by reducing overheads-foe example, not having a retail outlet in a busy high street location with high rents, reducing stock costs etc. Another important feature of an eCommerce business is its interactivity. The one feature of eCommerce businesses which sets it apart from the physical businesses is its ability to provide personalized services to each customer. Features of E-Commerce Er.Sartaj Singh Bajwa Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. The technology also allows for custom. Ubiquity- The traditional business market is a physical place, access to treatment by means of document circulation. Let's stay in touch :), Your email address will not be published. Aug 13,2020 - what are the features of e business ?? E-Commerce has pertain key features which are explained as follows: Feature # 1. E-commerce is everywhere — unless, of course, you look in the B2B space. Educated and conscious customers always seek such information before making a purchase decision. Online businesses can use this information to develop new information asymmetry, enhance their brand products, to charge higher prices, quality service and market segmentation of many groups, each of the different prices. The advantages of e-business for an organization are described below:- 1. E-business is a general term that encompasses all forms of using digital information and communication technologies to support and optimize business processes. Disclaimer: This work has been submitted by a university student. These range from security to scalability as well as the ability to work seamlessly with your other software programs. Company Registration No: 4964706. Information Density- The density of information the Internet has greatly improved, as long as the total amount and all markets, consumers and businesses quality information. An eCommerce business is a business model which let the companies set up their business on an electronic network. E-commerce is a business model or a larger business model that allows companies or individuals through the electronic network and is usually the type of business segments in the internet. Unique features of E-commerce technology are:- 1. In addition to this, businesses can know about the problem faced by the users of their eCommerce platform and can fix them in order to reduce the loses. For example, when a student wants to buy an online course, he would need the assistance of the experts of the website to help him to choose a suitable level of course for him. Advantages to business – 1. On the e-commerce businesses potential market scale is roughly equivalent to the network the size of the world’s population. I am a serial entrepreneur & I created Marketing91 because i wanted my readers to stay ahead in this hectic business world. E-commerce is a part of e-business, so let me give you a comprehensive detail about what is e-business. In e-commerce we can see that these seven kinds of unique features in the function of the website. With the help of technology, the cost of collecting information has reduced drastically. Every one of e-commerce has become a household name. Assume that, you had bought two products through online. As more of companies' sales, marketing and other internal business processes are conducted digitally, electronic business processes such as customer relationship management (CRM), enterprise resource planning (ERP), and content management are becoming increasingly important. Commerce constitutes the exchange of products and services between businesses, groups and individuals and can be … VAT Registration No: 842417633. It enables customization of products 6. In this article, you will learn about the various features of an eCommerce business. Study for free with our range of university lectures! Since customers won’t actually “feel” the product until they purchased it, it’s … eCommerce businesses are the need of the hour and almost all small and large companies are taking their business online to increase their sales and to compete with the business online. E-Business helps to acquire Just-In-Time Information E-business enables business organizations … 2. Because of the ubiquitous nature of the eCommerce business, the working hours and geographical boundaries of catering increases. One of the most essential features of an eCommerce business is the universal acceptability of the website. For example, a customer will be impressed more if there is a video available on the website containing the information about the features of the products and information about how to use it or a hyperlink to the blog post explaining the uses of the product. People have come to realize, the need for it, and start to enjoy it. You can rate any e-business platform by the value it … Internet reaches national boundaries. E-marketing is taking over as small businesses’ go-to solution for lead generation and conversion. But EDI e-commerce solutions are built on a number of features on the basis of a single dedicated software and hardware facilities. 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