BUILDING EFFECTIVE E COMMERCE STRATEGIES FROM CONCEPT TO IMPLEMENTATION

Download or read book BUILDING EFFECTIVE E COMMERCE STRATEGIES FROM CONCEPT TO IMPLEMENTATION written by Madhuri Panditrao Rakhunde and published by Xoffencerpublication. This book was released on 2023-08-17 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: The phrase "e-commerce," which is an abbreviation for "electronic commerce," is the term that is used to define the type of transaction that takes place when products and services are both purchased and sold via the utilization of the internet. Through the exploitation of electronic platforms such as websites, mobile applications, and social media, it is the process of conducting economic transactions between businesses and consumers or between businesses themselves. This can be done between businesses. Both between businesses and between businesses themselves are able to engage in this activity. The advent of e-commerce has not only made new options available to customers and proprietors of enterprises, but it has also brought about a profound transformation in the manner in which businesses function. Both parties have been presented with new opportunities that are available to them. When it comes to conducting business online, one of the most significant advantages is that it provides a way that is not only more efficient but also more convenient. Ecommerce is the industry term for this practice. Businesses are able to reach customers all over the world without the requirement for a physical presence through the use of e-commerce platforms that allow customers to explore and purchase things without having to leave the convenience of their own homes. The advantages that this provides to firms are substantial. The advent of e-commerce has resulted in the automation of a significant number of the operations that are involved in the process of making sales. These activities include the management of inventories, the processing of orders, and the shipping of products. In addition, this has made it simpler for companies to simplify their processes, which is yet another advantage that comes with conducting business online. As a consequence of the COVID-19 epidemic, which has led people to reduce the frequency of face-to-face encounters they have, the popularity and significance of online shopping has continued to continue to rise. This holds especially true in view of the fact that more and more people are making their purchases online. When one takes into account the fact that the epidemic has continued to expand, this is particularly pertinent in light of the fact that. Businesses who are able to adjust to the ever-changing environment of e-commerce are likely to have an advantage over their competitors in the years to come for the reasons that are discussed in the following paragraphs. This is because of the fact that e-commerce is subject to constant change. Purchasing and selling of goods or services through the use of the internet is referred to as "e-commerce," which is also widely referred to as "Electronic Commerce." Ecommerce is a method that incorporates the utilization of the internet. The process of selling tangible items through the use of the internet is widely referred to as "ecommerce" in the business sector. This phrase is commonly used throughout the business world. The phrase, on the other hand, can also be used to refer to any kind of business transaction that is carried out through the exploitation of the internet technology. The first such transaction that took place online took happened in 1994, when a man used his website, Net Market, which was an American retail platform, to sell a CD by the band Sting to a friend. This is the very first time that a client has made a purchase from a company through the World Wide Web, which is widely referred to as e-commerce in the modern world. There have been no previous instances of this happening. As a result of this, the growth of e-commerce has developed to the point where it is now easier to search and get things through the websites of online marketplaces and merchants. This is a consequence of the fact that e-commerce technology has advanced.