E-commmerce With MIS
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E-commerce refers to the buying and selling of goods and services using the Internet. It can occur between businesses, businesses and consumers, consumers and businesses, and consumers directly. E-commerce has grown exponentially since emerging in 1995 and is still growing, even during economic recessions. While mobile commerce is a small percentage of total e-commerce currently, it is the fastest growing segment. The benefits of e-commerce for consumers include convenience and greater selection, while disadvantages include limited customer service and an inability to see products physically before purchase.
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E-commmerce With MIS
- 1. E-COMMERCE:
- 2. WHAT IS E-COMMERCE? Electronic commerce, commonly known as E- commerce or e Commerce, is trading in products or services using computer networks, such as the Internet. These business transactions occur either business-to- business (B2B), business-to-consumer(B2C), consumer- to-consumer (C2C) or consumer-to-business (C2B). It can be thought of as a more advanced form of mail-order purchasing through a catalogue. Almost any product or service can be offered via ecommerce, from books and music to financial services and plane tickets.
- 3. E-commerce today: Use of the Internet and Web to transact business; digitally enabled transactions Began in 1995 and grew exponentially, still growing even in a recession Companies that survived the dot-com bubble burst and now thrive E-commerce revolution is still in its early stages
- 4. E-commerce and the Internet THE GROWTH OF E-COMMERCE Retail e-commerce revenues grew 15–25 percent per year until the recession of 2008– 2009, when they slowed measurably. In 2010, e-commerce revenues are growing again at an estimated 12 percent annually.
- 5. THE BENEFITS OF DISINTERMEDIATION TO THE CONSUMER The typical distribution channel has several intermediary layers, each of which adds to the final cost of a product, such as a sweater. Removing layers lowers the final cost to the consumer. FIGURE 10-2 © Prentice Hall 20115
- 6. E-commerce marketing Internet provides marketers with new ways of identifying and communicating with customers Long tail marketing: Ability to reach a large audience inexpensively Behavioral targeting: Tracking online behavior of individuals on thousands of Web sites Advertising formats include search engine marketing, display ads, rich media, and e-mail
- 7. M-commerce Although m-commerce represents small fraction of total e-commerce transactions, revenue has been steadily growing Location-based services Banking and financial services Wireless advertising and retailing Games and entertainment
- 8. The Mobile Digital Platform and Mobile E-commerce CONSOLIDATED MOBILE COMMERCE REVENUES Mobile e-commerce is the fastest growing type of B2C e-commerce although it represents only a small part of all e-commerce in 2010. FIGURE 10-9
- 9. ADVANTAGES OF E-COMMERCE Convenience:- Ecommerce can take place 24 hours a day, seven days a week. Selection:- Many stores offer a wider array of products online than they do in their counterparts. And stores that exist only online may offer consumers a selection of goods that they otherwise could not access.
- 10. DISADVANTAGES Limited customer service:- If you want to buy a computer and you’re shopping online, there is no employee you can talk to about which computer would best meet your needs. No instant gratification:-When you buy something online, you have to wait for it to be shipped to your home or office. No ability to touch and see a product:- Online images don’t always tell the whole story about an item. Ecommerce transactions can be dissatisfying when the product the consumer receives is different than expected.
- 11. TYPES OF E-COMMERCE • Business-to-consumer (B2C) • Business-to-business (B2B) • Consumer-to-consumer (C2C)
- 12. KEY CONCEPTS IN E-COMMERCE Digital markets reduce: A. Information asymmetry B. Search costs C. Transaction costs D. Menu costs Digital markets enable: A. Price discrimination B. Dynamic pricing C. Disintermediation
- 13. CONTD... Digital goods:- Goods that can be delivered over a digital network. Cost of producing first unit almost entire cost of product: marginal cost of 2nd unit is about zero Costs of delivery over the Internet is very low. Marketing costs remain the same; pricing highly variable. Industries with digital goods are undergoing revolutionary changes (publishers, record labels, etc.)
- 16. Why e-commerce is different – 8 unique features 1. Ubiquity Internet/Web technology available everywhere: work, home, etc., anytime. Effect: Marketplace removed from temporal, geographic locations to become “marketspace” Enhanced customer convenience and reduced shopping costs
- 17. 8 unique features (cont.) 2. Global reach The technology reaches across national boundaries, around Earth Effect: Commerce enabled across cultural and national boundaries seamlessly and without modification Marketspace includes, potentially, billions of consumers and millions of businesses worldwide
- 18. 8 unique features (cont.) 3. Universal standards One set of technology standards: Internet standards Effect: Disparate computer systems easily communicate with each other Lower market entry costs—costs merchants must pay to bring goods to market Lower consumers’ search costs—effort required to find suitable products
- 19. 8 unique features (cont.) 4. Richness Supports video, audio, and text messages Effect: Possible to deliver rich messages with text, audio, and video simultaneously to large numbers of people Video, audio, and text marketing messages can be integrated into single marketing message and consumer experience
- 20. 8 unique features (cont.) 5. Interactivity The technology works through interaction with the user Effect: Consumers engaged in dialog that dynamically adjusts experience to the individual Consumer becomes co- participant in process of delivering goods to market
- 21. 8 unique features (cont.) 6. Information density Large increases in information density—the total amount and quality of information available to all market participants Effect: Greater price transparency Greater cost transparency Enables merchants to engage in price discrimination
- 22. 8 unique features (cont.) 7. Personalization/Customization Technology permits modification of messages, goods Effect Personalized messages can be sent to individuals as well as groups Products and services can be customized to individual preferences
- 23. 8 unique features (cont.) 8. Social technology The technology promotes user content generation and social networking Effect New Internet social and business models enable user content creation and distribution, and support social networks