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Part of a series on
Electronic commerce
Bills and coins

Online goods and services
Streaming media
Electronic books
Software

Retail services
Banking · Food ordering
Flower delivery · DVD rental

Marketplace services
Trading communities
Auctions · Online wallet
Advertising
Price comparison service

E-procurement
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Electronic commerce, commonly known as e-commerce, consists of the buying and selling of products or services over electronic systems such as the Internet and other computer networks. Streaming multimedia is Multimedia that is constantly received by and normally presented to an end-user while it is being delivered by a streaming provider (the An e-book (for electronic book: also ebook) is the Digital media equivalent of a conventional printed Book. Online banking (or Internet banking) allows customers to conduct financial transactions on a secure website operated by their retail or virtual Bank, Online food ordering services are websites that feature interactive menus allowing customers to place orders with local restaurants Online flower delivery services are Websites that allow consumers to order flowers and related items by browsing an online catalogue Online DVD rentals allow a person to rent DVDs by Mail. Generally all interaction between the renter and the rental company takes place through the company's An online trading community provides participants with a structured method for trading bartering or selling goods and services The online auction business model is one in which participants bid for products and services over the Internet. An online wallet is a program or web service that allows users to store and control their online shopping information like logins, Passwords shipping Online advertising is a form of Advertising that uses the Internet and World Wide Web in order to deliver Marketing messages and attract customers On the Internet, a price comparison service (also known as shopping comparison or price engine) allows individuals to see lists of prices for specific products E-procurement ( electronic Procurement, sometimes also known as supplier exchange is the Business-to-business or Business-to-consumer purchase In Marketing, a product is anything that can be offered to a Market that might satisfy a want or need A service is the non-material equivalent of a good. A service provision is an economic activity that does not result in Ownership, and this is what differentiates A computer network is a group of interconnected Computers. Networks may be classified according to a wide variety of characteristics The amount of trade conducted electronically has grown extraordinarily since the spread of the Internet. A wide variety of commerce is conducted in this way, spurring and drawing on innovations in electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. Electronic funds transfer or EFT refers to the Computer -based systems used to perform Financial transactions electronically Supply chain management (SCM is the process of Planning, implementing and Controlling the operations of the Supply chain as efficiently as possible Internet marketing, also referred to as web marketing, online marketing, Internet advertising, or eMarketing, is the Marketing Online transaction processing, or OLTP, refers to a class of systems that facilitate and manage transaction-oriented applications typically for data entry and retrieval Electronic Data Interchange ( EDI) refers to the structured transmission of data between organizations by electronic means Inventory is a list for goods and Materials, or those goods and materials themselves held available in stock by a Business. Modern electronic commerce typically uses the World Wide Web at least at some point in the transaction's lifecycle, although it can encompass a wider range of technologies such as e-mail as well. The World Wide Web (commonly shortened to the Web) is a system of interlinked Hypertext documents accessed via the Internet. Electronic mail, often abbreviated to e-mail, email, or originally eMail, is a Store-and-forward method of writing sending receiving

A large percentage of electronic commerce is conducted entirely electronically for virtual items such as access to premium content on a website, but most electronic commerce involves the transportation of physical items in some way. The term virtual is a concept applied in many fields with somewhat differing connotations and also differing denotations Online retailers are sometimes known as e-tailers and online retail is sometimes known as e-tail. Almost all big retailers have electronic commerce presence on the World Wide Web.

Electronic commerce that is conducted between businesses is referred to as Business-to-business or B2B. Business-to-business ( B2B) is a term commonly used to describe commerce transactions between businesses as opposed to those between businesses and other groups such as B2B can be open to all interested parties (e. g. commodity exchange) or limited to specific, pre-qualified participants (private electronic market). A private electronic market (PEM utilises the internet to connect a limited number or pre-qualified buyers or sellers in one market

Electronic commerce is generally considered to be the sales aspect of e-business. Electronic Business, commonly referred to as " eBusiness " or " e-Business " may be defined as the utilisation of information and communication It also consists of the exchange of data to facilitate the financing and payment aspects of the business transactions.

Contents

History

Early development

The meaning of electronic commerce has changed over the last 30 years. Originally, electronic commerce meant the facilitation of commercial transactions electronically, using technology such as Electronic Data Interchange (EDI) and Electronic Funds Transfer (EFT). Electronic Data Interchange ( EDI) refers to the structured transmission of data between organizations by electronic means Electronic funds transfer or EFT refers to the Computer -based systems used to perform Financial transactions electronically These were both introduced in the late 1970s, allowing businesses to send commercial documents like purchase orders or invoices electronically. A purchase order (PO is a commercial document issued by a Buyer to a seller, indicating the type quantities and agreed prices for products or services An invoice or bill is a commercial document issued by a seller to the Buyer, indicating the products quantities and agreed Prices The growth and acceptance of credit cards, automated teller machines (ATM) and telephone banking in the 1980s were also forms of electronic commerce. A credit card is part of a system of Payments named after the small Plastic card issued to users of the system Telephone banking is a service provided by a Financial institution which allows its customers to perform transactions over the telephone From the 1990s onwards, electronic commerce would additionally include enterprise resource planning systems (ERP), data mining and data warehousing. Enterprise resource planning ( ERP) is the planning of how business resources (materials employees customers etc Data mining is the process of Sorting through large amounts of data and picking out relevant information A data warehouse is a Repository of an organization's electronically stored data

Perhaps it is introduced from the Telephone Exchange Office, or maybe not. The earliest example of many-to-many electronic commerce in physical goods was the Boston Computer Exchange, a marketplace for used computers launched in 1982. Boston Computer Exchange was the world's first E-commerce company and dominated electronic trading in used computers in the US in the 1980s The first online information marketplace, including online consulting, was likely the American Information Exchange, another pre-Internet online system introduced in 1991.

Timeline

Business applications

Some common applications related to electronic commerce are:

Government regulations

In the United States, some electronic commerce activities are regulated by the Federal Trade Commission (FTC). The Federal Trade Commission ( FTC) is an independent agency of the United States government, established in 1914 by the Federal Trade Commission Act These activities include the use of commercial e-mails, online advertising and consumer privacy. Privacy is the ability of an individual or group to seclude themselves or information about themselves and thereby reveal themselves selectively The CAN-SPAM Act of 2003 establishes national standards for direct marketing over e-mail. The CAN-SPAM Act of 2003 ( 15 USC 7701 et seq Public Law No 108-187 was S The Federal Trade Commission Act regulates all forms of advertising, including online advertising, and states that advertising must be truthful and non-deceptive. The Federal Trade Commission Act of 1914 (15 USC §§ 41-58 as amended) established the Federal Trade Commission (FTC a Bipartisan body of five members [1] Using its authority under Section 5 of the FTC Act, which prohibits unfair or deceptive practices, the FTC has brought a number of cases to enforce the promises in corporate privacy statements, including promises about the security of consumers’ personal information. [2] As result, any corporate privacy policy related to e-commerce activity may be subject to enforcement by the FTC.

Forms

Contemporary electronic commerce involves everything from ordering "digital" content for immediate online consumption, to ordering conventional goods and services, to "meta" services to facilitate other types of electronic commerce.

On the consumer level, electronic commerce is mostly conducted on the World Wide Web. An individual can go online to purchase anything from books, grocery to expensive items like real estate. Another example will be online banking like online bill payments, buying stocks, transferring funds from one account to another, and initiating wire payment to another country. All these activities can be done with a few keystrokes on the keyboard.

On the institutional level, big corporations and financial institutions use the internet to exchange financial data to facilitate domestic and international business. Data integrity and security are very hot and pressing issues for electronic commerce these days.


See also

Notes

  1. ^ Advertising and Marketing on the Internet: Rules of the Road. e-Government (from electronic Government, also known as e-gov, digital government, online government or in a certain context A Dot-com company, or simply a dot-com, is a company that does most of its business on the Internet, usually through a Website that uses the popular A Dot-com company, or simply a dot-com, is a company that does most of its business on the Internet, usually through a Website that uses the popular Paid Content is the non-free Electronic commerce of digital content and information goods in digital media Social commerce is a subset of Electronic commerce in which the active participation of customers and their personal relationships are at the forefront Federal Trade Commission. The Federal Trade Commission ( FTC) is an independent agency of the United States government, established in 1914 by the Federal Trade Commission Act
  2. ^ Enforcing Privacy Promises: Section 5 of the FTC Act. Federal Trade Commission. The Federal Trade Commission ( FTC) is an independent agency of the United States government, established in 1914 by the Federal Trade Commission Act

References

External links

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