Unique Features of E-Commerce

Nowadays E-Commerce is the buzz word. Although it is omnipresent but we never comprehend its significance primarily because it is known by dissimilar names. Population do site promotion, Seo, affiliate marketing, and many other things but the goal is same i.e. To get clients and sell the products or services of the company. 'E' is just a medium to transact online. I will be listing some peculiar features of e-commerce which makes it considerably appreciable.

Ubiquity - In customary commerce, a marketplace is a corporeal place we visit in order to transact. For example, television and radio are typically directed to motivating the customer to go someplace to make a purchase. E-commerce is ubiquitous, meaning that it is ready just about everywhere at all times. It liberates the market from being restricted to a corporeal space and makes it possible to shop from your desktop. The effect is called a market space. From buyer point of view, ubiquity reduces transaction costs - the cost of participating in a market. To transact, it is no longer primary that you spend time and money traveling to a market. At a broader level, the ubiquity of e-commerce lowers the cognitive power required to complete a task.

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Global Reach - E-commerce technology permits market transactions to cross cultural and national boundaries far more comfortably and effectively as compared to customary commerce. As a result, the possible market size for e-commerce merchants is almost equal to the size of world's online population.

Universal Standards - One strikingly unusual feature of e-commerce technologies is that the technical standards of the Internet and therefore the technical standards for conducting e-commerce are universal standards i.e. They are shared by all the nations nearby the world.

Interactivity - Unlike any of the market technologies of the twentieth century, with the possible exception of the telephone, e-commerce technologies are interactive, meaning they allow for two-way transportation in the middle of merchants and consumer.

Information Density and Richness - The Internet vastly growth facts density. It is the total estimate and potential of facts ready to all market participants, consumers and merchants. E-commerce technologies cut facts collection, storage, transportation and processing costs. At the same time, these technologies growth greatly the accuracy and timeliness of information, production facts more beneficial and important than ever. As a result, facts becomes plentiful, economy and of higher quality. facts richness refers to the complexity and article of a message.

Personalization - E-commerce technologies permit personalization. Merchants can target their marketing messages to specific individuals by adjusting the message to a person's name, interests and past purchases. The technology also permits customization. Merchants can convert the product or aid based on user's preferences or prior behavior.

E-commerce technologies make it possible for merchants to know much more about consumers and use this facts more effectively than ever before. Online merchants can use this facts to institute new facts asymmetries, enhance their potential to brand products, payment prime prices for high potential aid and segment the market into an endless estimate of subgroups, each receiving a dissimilar price.

Unique Features of E-Commerce