Our Target is to help out in the journey of your CS Preparation. Today we have brought an important article related to “Business Management and Law, an important part of CS Foundation. While preparing for CS Preparation, you must have studied in details about Business Management and Law. In this blog, we will discuss “E-Commerce”.
CS Foundation: E-Commerce
What is E-Commerce (Electronic Commerce)?
A Brief Introduction
This is what we deal with in our lives on a daily basis. It is not limited to what we think, but it’s a wider concept which has actually made our life easy.
E-Commerce is not only limited to buying and selling of the Goods but, it also means the exchange of information and selling of services.
In other words, E-Commerce means transacting or facilitating business on the Internet.
Examples of E-Commerce:
Internet Banking, Online Ticketing, Electronic payments, Subscription of online books, Placement services, etc.
Classification of E-Commerce on the basis of the participants in the business:
- Business to Business (B2B): In this, both the transacting parties are businesses. Eg: Manufacturers, Traders, retailers, etc.
- Business to Consumer (B2C): Business selling goods to a consumer is the best example to understand this.
- Consumer to Business (C2B): Business buying from Consumer. It’s a new concept in the market and is actually being loved by the people. Eg: Elanic
- Consumer to Consumer (C2C): Consumer selling to another consumer. Eg: OLX, Elanic, etc.
Watch recorded lectures by our experts on E-Commerce for CS Foundation online classes.
Benefits of E-Commerce:
- Around the clock availability.
- Easy access.
- Saves time and effort.
- Wide availability.
- Various options to choose from.
- Reduces Cost.
- Convenient to the Consumer.
- Quick delivery.
Disadvantages of E-Commerce:
- Limited Consumer service.
- High Risk as a customer can’t see or touch the product before purchase.
- High Cost of Employee Training & Maintenance.
- Security Issues as online servers sometimes get hacked.
For more notes on Business Management, Business Ethics and Business Economics.
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