E-Commerce Electronic commerce, commonly known as e-commerce, refers to the buying and selling of goods and

services over the internet or other electronic networks. It involves the use of electronic means, such as websites, mobile
applications, and online platforms, to conduct commercial transactions. E-Business Electronic Business, also known as e-
business, refers to the conduct of business activities using electronic means, particularly the internet. It involves the use
of digital technologies to carry out various business processes, such as buying and selling products or services, Key
components of electronic business include: 1. E-commerce: The online buying and selling of goods and services. This
can involve businessto-business (B2B), business-to-consumer (B2C), or consumer-to-consumer (C2C) transactions. 2. E-
marketing: The use of digital channels, such as email, social media, and search engines, to promote products or services
and reach potential customers. 3. E-communication: The use of electronic means, such as email, instant messaging, and
video conferencing, to communicate with customers, suppliers, and other stakeholders. 4. E-service: The provision of
customer support and assistance through online channels, such as Chabot’s, self-service portals, and knowledge bases.
5. E-payment: The electronic transfer of funds for online purchases, using methods such as credit cards, digital wallets,
or online banking. 5-C model of E commerce The 5-C Model of E-Commerce consists of Commerce, Collaboration,
Communication, Connection, and Computation. These five elements are essential for the successful implementation and
operation of an e-commerce business. Commerce: This refers to the buying and selling of goods and services online. It
involves activities such as online shopping, electronic payments, and digital transactions. Collaboration: E-commerce
platforms enable collaboration between different stakeholders, such as suppliers, manufacturers, distributors, and
customers. Collaboration tools and features facilitate efficient communication and coordination among these parties.
Communication: Effective communication is crucial in e-commerce. It involves the exchange of information between
buyers and sellers, customer support, marketing messages, and feedback. Communication channels can include emails,
social media, and customer reviews. Connection: E-commerce relies on internet connectivity to connect buyers and
sellers. It involves establishing secure connections, ensuring data privacy, and providing a seamless online experience for
users. Computation: E-commerce platforms heavily rely on computational technologies to process and analyze data.
This includes tasks such as inventory management, order processing, data analytics, and personalized recommendations.
Technical and Economic Challenges in Electronic Commerce Electronic commerce, or e-commerce, refers to the buying
and selling of goods and services over the internet. While e-commerce offers numerous benefits, it also presents several
technical and economic challenges. Let's explore some of these challenges: --Technical Challenges: 1. Security: Ensuring
the security of online transactions is crucial to building trust with customers. E-commerce platforms must implement
robust security measures to protect sensitive customer information, such as credit card details and personal data, from
unauthorized access or cyberattacks. 2. Scalability: As e-commerce businesses grow, they need to handle increasing
website traffic, transactions, and data. Ensuring that the infrastructure and systems can scale to accommodate this
growth is essential to maintain a seamless user experience. 3. Integration: E-commerce platforms often need to
integrate with various systems, such as inventory management, payment gateways, and customer relationship
management (CRM) software. Ensuring smooth integration between these systems can be challenging, especially when
dealing with different technologies and protocols. 4. Mobile Optimization: With the rise of mobile devices, optimizing e-
commerce websites and applications for mobile users is crucial. Ensuring responsive design, fast loading times, and
intuitive user interfaces on mobile devices can be technically challenging. --Economic Challenges: 1. Competition: The e-
commerce landscape is highly competitive, with numerous businesses vying for customers' attention. Standing out
among competitors and attracting customers can be challenging, especially for small and new e-commerce businesses.
2. Pricing and Profitability: Determining the right pricing strategy is crucial for e-commerce businesses. Balancing
competitive pricing to attract customers while maintaining profitability can be a complex task, especially considering
factors such as production costs, shipping fees, and market demand. 3. Logistics and Fulfillment: Efficient order
fulfillment and timely delivery are essential for customer satisfaction. E-commerce businesses need to establish reliable
logistics and fulfillment processes to ensure smooth operations and minimize shipping delays or errors. 4. Customer
Trust and Loyalty: Building trust and loyalty with customers is vital for the longterm success of an e-commerce business.
Providing excellent customer service, addressing concerns promptly, and maintaining a positive online reputation are
ongoing challenges that e-commerce businesses face. Technological Elements Electronic commerce (e-commerce) relies
on various technological elements to facilitate online transactions and enable businesses to operate in the digital
marketplace. These elements include basic technologies, middleware, platforms/frameworks, and typical applications.
Let's explore each of these elements in more detail: Basic Technologies 1. Internet: The internet serves as the
foundation for e-commerce, providing the infrastructure for communication and data transfer between buyers and
sellers. 2. World Wide Web (WWW): The WWW enables the creation and access of web pages, allowing businesses to
showcase their products and services online. 3. Hypertext Transfer Protocol (HTTP): HTTP is the protocol used for
transmitting data over the internet. It ensures secure and reliable communication between web servers and browsers. 4.
Secure Sockets Layer (SSL)/Transport Layer Security (TLS): SSL/TLS protocols provide encryption and authentication,
ensuring secure transmission of sensitive information such as credit card details. : What are the main actors and
stakeholder in the area of E commerce? In the area of e-commerce, the main actors and stakeholders include:
Customers (Buyers): Customers are at the heart of e-commerce. They are individuals or businesses that purchase
products or services online. Their preferences and decisions influence the success of e-commerce businesses. Suppliers
(Producers or Manufacturers): Suppliers are the entities that provide the products or services sold on e-commerce
platforms. They can include manufacturers, wholesalers, distributors, and individual sellers. E-commerce Retailers
(Sellers): E-commerce retailers, often referred to as sellers, are businesses or individuals that operate online stores. They
list and sell products or services to customers. Government: Government entities, at various levels (local, national, and
international), play a role in regulating and overseeing e-commerce. This includes the formulation of laws and
regulations related to taxes, consumer protection, data privacy, and other aspects of online commerce. How the
fundamental sales process and his 7 + 1 process step work 1. Prospecting: Identify potential customers or leads who
may be interested in your product or service. 2. Qualification: Evaluate and qualify leads to determine if they meet
specific criteria, such as their level of interest, budget, and decision-making authority. 3. Preparation and Research:
Conduct thorough research on each prospect to understand their needs, pain points, and background. This information
helps tailor your sales approach. 4. Approach: Make initial contact with the prospect through their preferred
communication method (e.g., phone call, email, in-person meeting). The approach should be customized to the
prospect's preferences and needs. 5. Presentation: Deliver a detailed presentation that highlights the product or
service's features, benefits, and how it addresses the prospect's specific needs. The goal is to educate and persuade the
prospect. 6. Handling Objections: Address any objections or concerns raised by the prospect during the sales process.
This step involves providing solutions, addressing doubts, and overcoming objections to move the sale forward. 7.
Closing the Sale: The final step is to secure a commitment from the prospect to make a purchase. It involves asking for
the sale, finalizing transaction details, and obtaining the prospect's agreement. Secondary Step : 8. Follow-Up and Post-
Sale Service: After the sale is closed, continue to maintain the relationship with the customer. Offer post sale support,
ensure customer satisfaction, and explore opportunities for additional sales or referrals. There are three basic types of
software systems in the E Business: online shop/marketplace/procurement Platform. Characterize them by the
number of suppliers and customers The three basic types of e-business software systems - online shops,
marketplaces, and procurement platforms - can be characterized by the number of suppliers and customers involved:
Online Shop (B2C):  Suppliers: Typically, an online shop has multiple suppliers. These suppliers provide products or
services directly to the shop.  Customers: The primary focus is on individual consumers. Customers browse the shop’s
offerings and make purchases. Marketplace (B2B or B2C):  Suppliers: A marketplace connects multiple vendors
(suppliers) to a common platform. These vendors can operate under various business models.  Customers:
Marketplaces cater to both businesses (B2B) and individual consumers (B2C). They offer a broad pool of potential
vendors. Procurement Platform (B2B):  Suppliers: Procurement platforms facilitate transactions between buyers and
suppliers. Suppliers can be manufacturers, wholesalers, or service providers.  Customers: The focus is on businesses
seeking to procure goods or services efficiently. Q:4: A basic technology of E-Business is abbreviated by TCP/IP. Was
does this mean? What are two functions, which are covered by this technology? TCP/IP stands for "Transmission
Control Protocol/Internet Protocol." It's a fundamental set of networking protocols that underlies the operation of the
Internet and serves as a cornerstone technology for E-Business. TCP/IP consists of two main components, each with its
distinct function: Transmission Control Protocol (TCP): TCP is responsible for ensuring the reliable and orderly delivery of
data packets from the source to the destination. Internet Protocol (IP): IP is responsible for routing data packets across
networks. It assigns unique IP addresses to devices connected to the Internet, allowing them to be identified and
located. Here are two key functions covered by TCP/IP: 1. Data Transmission: TCP/IP ensures reliable data transmission
between devices. The Transmission Control Protocol (TCP) handles segmentation, reassembly, and error correction,
ensuring data integrity during transmission. 2. Addressing and Routing: The Internet Protocol (IP) is responsible for
addressing and directing data packets to their destination. It assigns unique IP addresses to devices and routes data
across networks. Q#5: Explain the two abbreviations B2C and B2B. Do you think it could make sense to define a
business type C2C? Why? B2B (Business-to-Business): This model involves transactions between businesses. For
instance, manufacturers selling to wholesalers or wholesalers supplying retailers. B2B doesn’t directly involve
consumers, and the average order value tends to be higher. B2C (Business-to-Consumer): In this model, businesses sell
products directly to individual consumers. When you buy from an online retailer, that’s B2C. It’s the most common type
of ecommerce. C2C (Consumer-to-Consumer): C2C enables individual consumers to trade with each other, often online.
Think of platforms like eBay, Etsy, or Craigslist. People sell goods or services directly to other consumers. Now, about
defining a C2C business type:  While it’s less common than B2B or B2C, C2C has gained popularity due to the internet. 
C2C platforms allow individuals to buy and sell items directly.  Challenges include quality control and payment
guarantees.  So yes, it makes sense to recognize C2C as a valid business type