New Technologies In E-commerce

At the end of this topic, you should be able to:

Developing an outline for your review of the literature and project report

Combining sources from the Annotated Bibliography to form a single idea

Distilling several related ideas into a single one by 'brainstorming' and using concept mapping

Presenting arguments in a report or seminar (differs from live or recorded video)

Writing coherent paragraphs for inclusion to an annotated bibliography or literature review

Business Segments in E-commerce

According to Fontinelle, there are many new technologies that have emerged. Some are still in development and others are already in use by the community. He says, new technologies involve new devices, new software or new theoretical ideas.  All these new technologies are developed to solve issues such as insecurity, lack of information, finance problems, business processes and many more issues.  Electronic commerce is one of the new technologies that is meant to solve many business processes. Electronic commerce is commonly referred to as e-commerce or online shopping.  It is a business model that has been adapted by most business today. E-commerce is a new technology that is very important in the businesses today. E-commerce is applicable is the major market segments. The market segments include: business to business, business to consumer, consumer to business and consumer to consumer . All product and services can be provided to consumers via e-commerce.

Tuten draws his research  and  explains further the business segments. Business to business also referred to as B2B, involves e-commerce between companies. B2B e-commerce architecture involves: logistics which includes transport, distribution and storage in the warehouses; application service providers that includes hosting and data management; content management software that manages the content of the website and delivery;   auction solution software that manages the auction of the goods and services in real time and; commerce enablers.  He says that B2B applications that are useful in e-commerce include inventory management application, distribution management application, payment management application and channel management application.

Business to consumer is also referred to as B2C ecommerce. B2C involves commerce between business and consumers. B2C ecommerce involves purchasing of goods and services through the internet. The products involve both physical and information goods. Physical products include books, clothes, electronic appliances, furniture and vehicles whereas information goods include digitized content such as music, e-books and software.  B2C e-commerce is the largest form of e-commerce. The companies that have adopted the B2C e-commerce method include Amazon.com, Beyond.com, Noble, Drugstore.com and ToysRus among others. Many companies are adopting the B2C e- commerce today due to the huge benefits of using apply the technology in the business.

According to Hanke, ecommerce has been quite useful in the airline business processes. Consumer to Business e-commerce is also referred to as C2B e-commerce. C2B involves reverse auction by the consumer. He says, the consumer initiates the transactions. For example, the airline ticket that is given to consumers. It is the consumer who suggests the areas to wants to fly to the routes they prefer to follow.

Datta emphasizes on consumer to consumer e-commerce that is also referred to as C2C. The C2C e-commerce involves transactions between individuals. The C2C e-commerce is in different forms such as peer to peer systems, classified adverts and auction that require bidding on the items being sold. It could be books, clothes, hotel accommodation services, music, bus tickets, plane tickets and financial services.  Datta adds that, electronic commerce has enabled the business to establish the market presence in the community and provided an efficient distribution chain of the product and services.  He adds that, Electronic commerce enables a business to conduct a business over the internet, thereby reaching many people.

B2B E-commerce Architecture

The HuffPost state that, the electronic commerce refers to wide range of business activities for products and services. The business transactions are to be done online whereby the customer does not really need to show up at the business premises. The interaction is not physical, but is via electronic devices with the internet technology. The HuffPost also states that e-commerce involves applications that are developed by both software programmers and website designers to match the business flow. The software adheres to the business processes and ensures the smooth flow in all the transaction involved in the business process.

The e-commerce is already in the market but few businesses have adopted to the business especially in the developing countries. The companies that are already using the e-commerce have made a big merge of profit.

According to Businesschief.com, e-commerce affects all industries.  This includes agriculture, music, alcohol and most retail industries. The retail industries basically involve the B2C e-commerce. They states that e-commerce has altered the shopping especially the way customers acquire various goods and services. Customers just need to go on-line and select an items they require and the items are delivered at the door step after they make the payment. At time the delivery of the goods at the door step could be charged but other times prefer delivering the goods at no cost. These services encourages lots of consumers to buy goods and services online as it is very cheap, affordable and convenient. The e-commerce is programmed in a way that will fulfill the customers’ desire. They also say, the products are likely to be offered on-line by the company, in various capacities to ensure consumer satisfaction.

The software and development industry will be affected as they will have to chip in the auctioning process to understand the business flows and to ensure security in the business transactions. More software developers will be required in e-commerce industries as various changes need to be done every time to ensure that the content displayed in the application is actually what is in the market.

It is stated that the e-commerce will lead to jobless positions, as some employees such as merchandizers will not be necessary to retain the businesses. With the e-commerce technology only the distributers, content manager, software developers, logistic providers and business managers are useful to keep various businesses running.  E-commerce has been healthy in the retail industry. And hassled to expansion of the business by making more sales to many consumers at a cheaper cost.

B2C E-commerce

India Pvt Ltd says that, it is not only the traditional stores that are meant to use the e-commerce but also the companies which have already applied online shopping are opening the retails spaces. All the industries will have to cope and adapt e-commerce otherwise they will not thrive in the market. The company also adds, e-commerce is inevitable.

Telegram says that, for the music industry, e-commerce have made a great change. Previously, people used to go to the bookstores with huge CD reserves and make purchases of songs. The research shows that, today people will just need to go online and download songs they prefer at a cheap subscription. There are also sites where people can stream the music. Most people will prefer streaming to buying songs in CD.

In addition to the industries affected by e-commerce, Deulkar says that the Alcohol industry is also affected in a big way. Previously, alcoholic beverage consumers were distanced from the alcoholic beverage companies. The companies dealt with wholesalers. The wholesalers dealt with retailers and consumers. The consumers find themselves in a three-tier distribution system. He also states that these days the alcoholic beverage companies can make sales directly to consumers through the e-commerce websites. All the customer is required to do, is to make the order online, make the payment and choose a pickup station. It’s upon the company to decide the time of delivery and also the method of delivery.

According to Gaol’s data analysis  on e-commerce, He states e-commerce technology is quite beneficial to the entire society from the producers to the consumers of the products and services. He also adds that e-commerce involves use of internet technology. Internet has offered a business platform for various companies to sell their products. The internet determines the image a company has to the community. The internet can help a company in attaining a perfect image. The perfect image is achieved by the company creating a perfect fast website.

The company should ensure that services are delivered to the customers in the fastest way possible and quick responses to the customers are emphasized. Most companies display their products to vast potential customers all over the world via the internet, through a developed website. The e-commerce websites help in increasing the number of sales online.  Also, people can make orders via the internet. The orders could include food, clothes, house appliances, jewelry, shoes or any item you need. Previously one was required to go to a shop to get the items one need but today they are delivered at your door step. The items could be from abroad but still delivered at your door step at a cheap price.

C2C E-commerce

So far the companies that have adapted internet technology have enhanced the communication level in their organization according to Pittalia’s research.  The markets have gained more customers and their services have been improved to their customers. Pittalia also acknowledges that the companies also get instant feedback responses on their products from the customers. It is through the internet, that the companies have managed to keep more data and gather more information to make decisions in the company.  Internet is a vital tool in businesses today. Without internet the business rag behind.

Hu and Sun pin-pointed that e-commerce has the advantage of successful cash transaction in business today. The money transactions are easier, secure and made within fraction of minutes. One can make transaction via mobile devices as people no longer need to go to the bank to have the transactions done. Also making payment of goods and services has been enhanced via our mobile phones making our daily life activities smooth and at a cheaper price.

Luhach, Dwivedi and C.K mentioned that E-commerce will enable easier and faster communication between the business and the consumers. Communication is important in companies and at an individual level too. They did much more research and stated that internet will help increase credibility for the work done. Internet enhances customer support in companies.  They also said that it would be easier to offer customer support in business as the companies that have a website have a function on their website that offers live chat with customers who visit their website. The internet helps in managing communication in businesses, as data of the communication is saved and one may opt to refer to the previous conversation which is easier to retrieve. Also with internet, the companies don’t waste much of their time by waiting for messages to reach the destination. The internet allows us to get in touch with whomever they need to get hold of instantly.

In Ecommerce-land.com states it is stated that e-commerce enhances marketing. Online marketing is cheaper and will definitely reach a wider market as compared to other marketing ways such as use of billboards, posters and many more.

The International Journal of Recent Trends In Engineering and Research state found out that the ways of advertising via internet includes: content marketing, YouTube videos, Facebooks ads and Google ads. E-commerce helps in bringing in the social media. For the businesses engaging in social media, they acquire more traffic in the website and social media accounts thereby increasing their sales. The social media enhances the company profile, which in return will increase traffic to the business website increasing the sale of the goods and products. Social media is a simple efficient strategy of marketing a business.

Impact on Industries

According to Lomax research he says that e-commerce is very convenient to most people as the data is secure. Normally people are busy on tight schedule. Some people have no time to go to a shopping store and buy the items they require. For such people, e-commerce is quite convenient for them as all they need to do is use their laptop or mobile phone and visit a website and make a purchase of the items they need. The items will be delivered at their door step, making it so convenient for them.Also e-commerce is very helpful to the consumers, since the consumers can choose the online store he/she wishes. The customer can compare prices and quality of good and services from different stores. With this advantage the consumer will be in a position to pick out an item of quality and at a good price. The customer is also able to tell reviews of some products such as phones hence making a valid decision before buying the product.

Umar, Hendriana & Budiyono say that-commerce could also help the company offer some personalized experience. E-commerce can be used to forge some personal connection with the customers in ways such as order tracking, customer rewards such as coupons, and real-time customer support by getting to know consumer view of the business way of providing services. From a look at the impact the e-commerce has to the community today.

From the research made on e-commerce, I agree to the fact that e-commerce is very important and everybody should embrace it as with time the business that will not accommodate it will diminish. E-commerce will make most activities simpler and faster. All companies should also embrace e-commerce use it their daily transactions and market themselves to a vast potential market. It’s upon everyone to make use of the e-commerce technology as it is part of us and a basic need in our lives.

References

Fontinelle, A. (2018). Electronic Commerce - ecommerce. Investopedia. Retrieved 2 May 2018, from https://www.investopedia.com/terms/e/ecommerce.asp

Tuten, T. (2010). Enterprise 2.0. Santa Barbara, Calif.: Praeger.

Hanke, M. (2016). Airline ecommerce. New York: Routledge.

Datta, P. (2010). A preliminary study of ecommerce adoption in developing countries. Information Systems Journal, 21(1), 3-32. https://dx.doi.org/10.1111/j.1365-2575.2009.00344.x

Ecommerce Technology Trends That Will Take Center Stage This Year. (2018). HuffPost. Retrieved 2 May 2018, from https://www.huffingtonpost.com/michael-lazar/ecommerce-technology-tren_b_14665416.html

Five reasons eCommerce should be important to your business. (2018). Businesschief.com. Retrieved 2 May 2018, from https://www.businesschief.com/marketing/4356/Five-reasons-eCommerce-should-be-important-to-your-business

Ecommerce Today. (2018). Ecommerce-land.com. Retrieved 2 May 2018, from https://www.ecommerce-land.com/today.html

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Importance of Ecommerce in Business | Online Business Marketing. (2018). Expose Info Tech India Pvt Ltd. Retrieved 2 May 2018, from https://exposeinfotech.com/why-ecommerce-is-important-to-your-business/

Telegram, A. (2018). E-Commerce Continues to Affect the Retail Industry. WV News. Retrieved 2 May 2018, from https://www.wvnews.com/statejournal/e-commerce-continues-to-affect-the-retail-industry/article_7264e22e-86a6-5bf3-b975-9336d6b395cf.html

Deulkar, M. (2017). Analysis on Missing Item Prediction and Its Recommendation Based on Users Approach in Ecommerce. International Journal For Research In Applied Science And Engineering Technology, V(III), 80-83. https://dx.doi.org/10.22214/ijraset.2017.3016

Gaol, F. (2012). Recent progress in data engineering and internet technology. Berlin: Springer.

Pittalia, P. (2015). Ecommerce - Introduction, Technology, Cryptography. Saarbru?cken: LAP LAMBERT Academic Publishing.

Sun, W., & Hu, W. (2014). A Dynamic Pricing Method for Goods in Competitive Ecommerce Markets. International Journal Of U- And E-Service, Science And Technology, 7(4), 1-10. https://dx.doi.org/10.14257/ijunesst.2014.7.4.01

Kr. Luhach, A., K. Dwivedi, S., & C. K, J. (2014). Designing and Implementing the Logical Security Framework for Ecommerce Based on Service Oriented Architecture. International Journal Of Advanced Information Technology, 4(3), 25-34. https://dx.doi.org/10.5121/ijait.2014.4303

Lomax, S. (2006). Securing the eCommerce revolution: safeguarding Internet transactions. Card Technology Today, 18(6), 9-10. https://dx.doi.org/10.1016/s0965-2590(06)70507-2

Umar, R., Hendriana, Y., & Budiyono, E. (2015). Implementation of Levenshtein Distance Algorithm for ECommerce of Bravoisitees Distro. International Journal Of Computer Trends And Technology, 27(3), 131-136. https://dx.doi.org/10.14445/22312803/ijctt-v27p123