Introduction To E-commerce – Essay Example
Introduction to E-Commerce Characterizing the Four Reasons for Intense Competition Observed in E-Commerce This paper explores a published article that reports on results from research conducted online (internet) mainly focusing on the four reasons for intense competition observed in E-Commerce. The article is obtained from the site www.Techarena.in which gives detailed information on the topic E-Commerce.
Electronic commerce is doing business online. It is about using the power of digital information to understand the needs and preferences of each customer and each partner to customize products and services for them, and then to deliver the products and services as quickly as possible. There are many benefits arising out of E-Commerce because of which many businesses have turned to selling their products online. (Techarena).
The four main reasons for intense competition in E-Commerce are:
24 × 7 availability
Targeted focus and Cost savings
Global Reach - A small organization no longer has to be a local organization. Anyone with Web access (in a living room in Chicago, in a log cabin in Alaska, or in a café in Bordeaux) can spend their time, and their money, at any online business.
Higher Profile - A company can have a significant Web presence and profile, even with relatively modest depth and breadth to its inventory. On the Internet, a small but very efficient company can have the profile of a much larger, deep-pocketed competitor.
24 × 7 Availability - E-businesses do not have to close at the end of the day. Information and services can be available any time, any day, allowing revenue to be earned without interruption.
Targeted Focus and Cost Savings - Companies do not have to be all things to all consumers. Through the Internet, individual customers can get goods and services tailored to their needs. Significant savings from, among other things, streamlining inventory and distribution channels are possible in effective e-businesses.
Http://forums.techarena.in/guides-tutorials/6040.htm. Overview of E-Commerce Technology Guides & Tutorials, 1-7. Web (2004).