Thursday, October 16, 2008

E-Commerce Defined

Scenario 1:
Step 1: Browsing a web site's online catalog, looking for a specific product and compare its price with another few web sites.

Step 2: Select the item into online shopping cart and click checkout.

Step 3: Enter the payment information such as Credit Card or PayPal information, billing and shipping addresses.

Step 4: Receive immediate notification of the successful transaction.

Step 5: Wait for the item to be delivered to your place or download it from the website (for digital product).

The steps or scenario mentioned above is one of the example on how e-commerce works in our daily life.

What is E-commerce?
E-commerce is the process where business transactions such as buying, selling and exchanging products, services and information through the computer networks, particularly the Internet. E-commerce also can be performed through the Intranet and Extranet.

It is also known as a digitally enabled commercial transaction between and among organisations and individuals. Digitally enabled transactions include all transactions mediated by the digital technology, mainly through the Internet and the Web. Commercial transactions involve exchange of value (money) in return for products and services.

In short, e-commerce means performing online business transactions. Its a way of doing business, through the Internet.

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