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Advantages Of E Commerce Essay

1461 words - 6 pages

The advantages of utilizing the World Wide WebOfficially, electronic commerce is "Electronic Commerce is the paperless exchange of goods or services through the use of electronic data". Today, the more typical definition of e-commerce is "To sell goods or services on the web" (Web Transitions, Inc, 2004). Some of the benefits of using the World Wide Web are:* No time or distance barrier- customers can log onto the internet at anytime, day or night. They are able to purchase the product with a click of the mouse.* Cheapest means of doing business- there is no need for travel, face-to-face sales and the amount of money to invest is minimal.* Virtually eliminates processing errors- the customer ...view middle of the document...

- Less time is spent in resolving invoice and order discrepancies- the less paperwork that is involved the better, this eliminates errors. The customer is able to inspect their order online before finalizing the purchase, therefore they are able to correct any discrepancies, such as address and telephone number, before submitting the order.- Increased opportunities for buying alternative products- because they are able to see other products they can compare them and compare the prices (EcommerceEducation.com, 2004).Some other advantages for buyers include:The ability to build an order over several daysthe ability to configure products and see actual pricesthe ability to easily build complicated custom ordersthe ability to search large catalogs easilyHow this will meet company goalsT&F's goals are to increase the revenue growth rate and get into the international market.Lower transaction costsLarger purchases per transactionImprove customer relations24/7 operationIntegration into the business cycle - A Web site that is well-integrated into the business cycle can offer customers more information than previously available. Customers are able to track their orders at any time.The main goals of T&F are to increase revenue growth rate and to get into the international market. By using the World Wide Web they will be able to lower transaction costs, the customers will make larger purchases per transaction and it will improve customer relations. The internet eliminates the middle-man, which lowers costs. The user will be able to do more direct buying at one time by using the website. T&F's primary customers are resellers. The website will be structured to address resellers directly, and allow more resellers to find our product. Also, by using the internet our customer relations will vastly improve. This will happen due to the reduction in paperwork and errors made, as I mentioned in the previous slides (The Advantages of e-commerce, n.d).The major driving forces behind using the InternetIdeal for niche products24/7 operationAdvertisementEverybody is doing itThe internet is a 24/7 operation. Customers are able to view your product at anytime, day or night. This is the ideal for niche products. Niche products are a focused or targetable part of the market (Investorsworld.com, 2005). Customers for such products are usually few. But in the vast market place i.e. the Internet, even niche products could generate viable volumes (EcommerceEducation.com, 2004).Approximately 150 million people worldwide have access to the Internet. No matter what your business is, you simply can't ignore that many people. To be a part of this growing community and show that you are interested and capable of serving these people, you need to be on the World Wide Web. You know your competitors will (Carrie's Creations, Inc, 2006).There is no better place to advertise our product than the World Wide Web. As stated previously about 150 million people use the internet. That...

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