What are the areas of electronic commerce? What are the types of e-commerce and its applications?
E-commerce actually means the use of an electronic medium for commercial transactions, but it is usually used to refer to the sale of products and services over the Internet to consumers or other businesses. So, what are the areas of areas of electronic commerce?
According to another definition, electronic commerce refers to the sharing of commercial information, the maintenance of commercial relations and the conduct of commercial transactions with the help of computers connected to a communication network, and without the use of paper documents.
We can classify e-commerce through the application into:
Electronic markets – here the buyer offers a range of products and services available in the market so that he can compare prices and make the purchase
Electronic Data Interchange – This is a unified system where computers communicate with each other without printed documents such as order forms or invoices; It eliminates delays and errors that otherwise appear when handling paper
Internet commerce - the most we know; the medium used to advertise and sell countless products and services; The purchased goods are then shipped to the buyer.
Follow with me to know the areas of e-commerce.
areas of electronic commerce
There are three classifications of areas of e-commerce: online retail, online marketplaces, and online auctions. E-commerce is supported by electronic business, and in all of these classifications we can define the areas of electronic commerce as follows:
- field of consumer behavior.
- field of information systems management.
- The field of robotics and statistics.
- Journalism and content writing.
- field of computer science.
- field of economics.
- field of business law.
- accounting field.
- field of engineering.
- Marketing and advertising field.
- field of human resource management.
E-commerce is used in various fields of business; The main categories of e-commerce are:
1. Business to Business (B2B)
B2B is electronic commerce that represents the electronic exchange of products, services, and information between businesses. The B2B e-commerce market is expected to reach $1.1 trillion in the United States in the coming years.
Some applications of B2B areas are product and supplies exchange sites, and online directories, which feature the option to search for specific products and services and subsequently initiate payment transactions within them.
2. Business to Consumer (B2C)
B2C is the retail part of e-commerce where businesses sell products, services, and information directly to their customers over the Internet. B2C was introduced in the late 90's revolutionizing the retail ecosystem ever since. j
The B2C market has now included all kinds of consumer goods including many virtual stores and online shopping platforms where Amazon or flipkart are leading the markets with dominance and valuable customers.
3. Consumer to Consumer (C2C)
It is a type of e-commerce where consumers can trade their products or services with each other over the internet. Transactions are carried out through third party online platforms. C2C e-commerce consists of online classified ads and auctions such as the popular eBay and Craigslist.
These types of businesses are also known as C2B2C or consumer-to-consumer business.
4. Consumer to Business (C2B)
C2B is the type of e-commerce in which the consumer builds their own products and services, making them available online for businesses to bid and buy. The most common example of a C2B platform is an online marketplace that sells everything for free like iStock and Job Board.
Moreover, C2B e-commerce is said to be an opposite kind of B2C model of traditional commerce.
Business to Management (B2A)
This type of e-commerce platform allows online payment transactions between companies and administrative or government agencies, and many government agencies depend on electronic services or products directly or indirectly.
Companies offer to electronically supply electronic documents, records, security, etc. which have experienced exponential growth in recent years. It has experienced exponential growth in recent years.
5. Consumer to Administration (C2A)
C2A e-commerce refers to transactions between individual customers and public administration or government authorities. In contrast to government authorities, consumers use electronic commerce and transaction processing methods for various industries including education, health, and retail industries.
The prevalence of e-commerce today is very high, which leads to a significant increase in the demand for e-commerce development services.
Let's take a look at the most popular e-commerce applications.
Fields of electronic commerce: its applications in reality
1.Retail and wholesale
E-commerce has many applications in this sector. E-retailing is primarily B2C and, in some cases, B2B selling of goods and services through online stores designed using virtual shopping carts and electronic catalogs.
A subset of retail e-commerce is e-commerce, or mobile commerce, where a consumer purchases goods and services using their mobile device through the retailer's mobile-optimized site.
These retailers use the electronic payment method: they accept payment through credit or debit cards, e-wallets or online banking, without printing paper invoices or receipts.
2. Internet marketing
This refers to collecting data about consumer behaviors, preferences, needs, purchasing patterns, etc. It assists in marketing activities such as price setting, negotiation, improving product features and building strong customer relationships as this data can be leveraged to provide customers with a personalized and enhanced buying experience.
3. financing
Banks and other financial institutions use e-commerce to a large extent. Customers can check account balances, transfer money to other accounts they hold or hold for others, pay bills through online banking, pay insurance premiums, etc.
Individuals can also conduct stock trading online, obtaining information about stocks to trade in from websites that display news, charts, performance reports, and analyst ratings for companies.
4. Manufacturing
Supply chain operations also use e-commerce; Usually, some companies form a group and set up an electronic exchange and facilitate the purchase and sale of goods, the exchange of market information, back office information such as inventory control, etc. Information, background information, such as inventory control, etc.
This enables smooth flow of raw materials and finished products between member companies as well as with other companies.
5. Online booking
This is something almost every one of us has done at some point in time – booking hotels, vacations, airline tickets, travel insurance, and so on. These bookings and reservations are made through the online booking engine. It is used to the greatest extent by aviation, tourism operations and the hotel industry.
6. Online publishing
This refers to the digital publishing of books, magazines, catalogs and the development of digital libraries.
7. Digital advertising
Online advertising uses the Internet to deliver promotional materials to consumers; Includes publisher and advertiser. The advertiser provides the ads, and the publisher integrates the ads into the online content. There are often creative agencies that create and help place the ad.
Different types of ads include banner ads, social media ads, search engine marketing, retargeting, popup ads, etc.
8. Auctions
Online auctions bring together many people from different geographic locations and enable items to be traded at negotiated prices, carried out using e-commerce technologies.
More people were able to participate in auctions. Another example of an auction is bidding on seats on an airline's website - window seats, front seats with more legroom generally sell for a higher price, depending on how much the traveler is willing to pay. How many travelers are willing to pay.
E-commerce is all around us today, and as an entrepreneur, you must also go into this field if you want to expand your markets, get more customers and increase your profits.
Areas of electronic commerce: the strategy behind the e-commerce market
- The e-commerce market is mainly based on 3 dominant elements:
- market requirements
- Targeting the customer market
- Frequent trends in the industry
How can you improve your marketing strategy for e-commerce sites? Everything you do affects the promotion of your online business. Doing it following a strict pattern will do wonders for your business website.
1. Analytics:
Analyze current statistics and trends in the niche business. By gathering as much data as possible regarding a specific industry, the product makes a huge difference. It should be more specific to the point to make perfect decisions. It should be more specifically aimed at making perfect decisions.
You can use Google Analytics:
One of the best free analytics tools for e-commerce marketing and who wouldn't use a Google product! Whatever the product, you need to increase your ecommerce conversion rate. It is more powerful and preferred than any other analytics tool because it allows you to track your website traffic at every stage. So you can point out the weakness that leads to friction.
Features:
- More powerful
- data studio
- Tags manager
- effective surveys
- Search Ads 360
- View the video 360
At the end of the day, Google analytics can tell you how many visitors come to your website each day, on which site and through which device. Google Analytics also offers you to test:
- your LTV customers
- market performance of individual products
- Traffic starting point (device)
- The page that attracts the most visitors
- The page with the most bounces
- About how visitors turn
2. Understanding Consumer Data:
Demographics are always better than business. Find out geography, economy and potential customer details. Frequently check and keep record of data on surveys, consumer reports, and social media audiences.
3. Research:
Research is the best way to improve business. There are a lot of competitors, and a slight decrease indicates serious weakness in the market. Research competitors, regarding their dominance, strength, weakness, business goals, visions, etc.
As you can see, the fields of e-commerce are multiple and have many applications in reality.
As you can see, the fields of e-commerce are multiple and have many applications in reality.