Features of E-commerce Technology – Brief Description | Fundamentals of E-commerce

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Fundamentals of E-commerce Notes | Sixth Semester,
BSc.CSIT | Tribhuvan University (TU)

Features of E-commerce Technology
There has been vast change in the life-styles of people along with change in traditional commerce to e-commerce. This is all due to it’s exciting features. Some of the features of e-commerce technology are as follows;

  • Ubiquity: E-Commerce is ubiquitous meaning that it is available just about everywhere, at all times. It make possible to shop from your desktop, at home, at work or even from your car, using mobile commerce. The result is called a market space – a marketplace extended beyond traditional boundaries and removed from a temporal and geographic location. From a consumer perspective, ubiquity reduces transaction costs – the costs of participating in a market. To transact, it is no longer necessary that you spend time and money traveling to a market.
  • Global Reach: Unlike traditional commerce, e-commerce technology permits commercial transaction to cross cultural and national boundaries far more conveniently and cost effectively. As a result, the potential market size for e-commerce merchants is roughly equal to the size of the world’s online population.
  • Universal Standards: One strikingly unusual feature of e-commerce technologies is that the technical standards of the Internet, and therefore the technical standards for conducting e-commerce, are universal standards – they are shared by all nation around the world.
  • Richness: With the use of e-commerce technology merchant can present their message in effective way. Information richness refers to the complexity and content of the message.
  • Interactivity: E-Commerce technologies are interactive, meaning they allow two-way communication between merchant and consumer. Interactivity allows an online merchant to engage a consumer in a ways similar to a face-to-face experience, but on a much more massive, global scale.
  • Information density: The Internet and the Web vastly increase information density – the total amount and quality of the information available to all market participants, consumers and merchants alike. E-commerce technologies reduce information collection, storage, processing and communication costs. At the same time, these technologies increase greatly the accuracy and timeliness of information – making information more useful and important than ever. As a result, information becomes more plentiful, cheaper and of higher quality.
  • Personalization/Customization: E-commerce technologies permit personalization: Merchants can target their marketing message to specific individuals by adjusting the message. The technology also permits customization – changing the delivered product or service based on a user’s preference or prior behavior.
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