Concept And Meaning Of E-commerce

The e-commerce is a part of the e-business that involves using electronic means and platforms to conduct a firm's business. Today, many companies claim to be operating paperless with the help of electronic means. E-business uses three types of networks for conducting business operations:

1. Internet

The global network through which a firm or an individual can contact, access and share information, order for the products and services to other users of the internet. Internet has greatly increased the ability of companies to conduct their business faster, more accurately, on a wider range of time and space, at reduced costs, and with the ability to customize and personalized customer offerings.

2. Intranet

This is an in-company network that allows employees to access and share information with each other in order to improve the company's performance.

3. Extranet

This is a network of the company with its suppliers, distributors, and major customers facilitating exchange of information, execution of orders, transactions and payments.

E-commerce is more specific than e-business and focuses more specifically on selling products and services electronically. Thus, e-commerce is the marketers' effort to inform, communicate, promote and sell its products and services through the internet. The e-commerce is executed through on-line marketing.

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