Online/E-Commerce By: Tyler Dierdorff

Online/E-Commerce Electronic commerce is the paperless exchange of business information using electronic data interchange (EDI), e-mail, electronic bulletin boards, fax transmissions, and electronic funds transfers. Internet shopping, online stock and bond transactions, the downloading and selling of “soft merchandise” (software, documents, graphics, music, etc.), and business-to-business transactions. The concept of e-commerce is all about using the Internet to do business better and faster .

Electronic commerce is the paperless exchange of business information using electronic data interchange (EDI), e-mail, electronic bulletin boards, fax transmissions, and electronic funds transfers.

Internet shopping, online stock and bond transactions, the downloading and selling of “soft merchandise” (software, documents, graphics, music, etc.), and business-to-business transactions.

The concept of e-commerce is all about using the Internet to do business better and faster .

Pros For Consumers Price Quick, convenient and easy In depth product overviews Consumer reviews (Less biased opinions) Find products online that you can't find at a local, real world store Doors are always open to customers, 24 hours a day, 7 days a week No sales pitches (store employees)

Price

Quick, convenient and easy

In depth product overviews

Consumer reviews (Less biased opinions)

Find products online that you can't find at a local, real world store

Doors are always open to customers, 24 hours a day, 7 days a week

No sales pitches (store employees)

Cons For Consumer Unable to examine products personally New way for cyber-criminals to steal personal, financial info, and even your identity Product Overload Don’t always know what your getting Shipping delay (purchases and returns) Slower product verification and problem resolution Loss of emotional fulfillment

Unable to examine products personally

New way for cyber-criminals to steal personal, financial info, and even your identity

Product Overload

Don’t always know what your getting

Shipping delay (purchases and returns)

Slower product verification and problem resolution

Loss of emotional fulfillment

Pros For Businesses Increased market share (Global) Provide for niche markets Operation costs Increased productivity Survey of customers Less likely to make returns

Increased market share (Global)

Provide for niche markets

Operation costs

Increased productivity

Survey of customers

Less likely to make returns

Cons For Businesses Elimination of face to face interaction Distribution (in-stock?) Competition (prices down=profit margin down) 24/7 (updating, responding, etc.)

Elimination of face to face interaction

Distribution (in-stock?)

Competition (prices down=profit margin down)

24/7 (updating, responding, etc.)

E-Shopping Tips Personal recommendations - Friends or Co-workers who have online shopping experiences to share Use consumer reviews and internet to get informed Bizrate.com, amazon.com, etc.

Personal recommendations

- Friends or Co-workers who have online shopping experiences to share

Use consumer reviews and internet to get informed

Bizrate.com, amazon.com, etc.

Question Total e-commerce sales for 2007 were estimated at $136.4 billion, an increase of 19.0 percent (±2.8%) from 2006. While, Total retail sales in 2007 increased only 4.0 percent (±0.3%) from 2006. - What do you feel is causing consumers to turn to the Internet?

Total e-commerce sales for 2007 were estimated at $136.4 billion, an increase of 19.0 percent (±2.8%) from 2006.

While, Total retail sales in 2007 increased only 4.0 percent (±0.3%) from 2006.

- What do you feel is causing consumers to turn to the Internet?

Question - Have you ever contacted an online customer service representative regarding a product you have purchased? How come? If so, how did you and what was your experience like?

- Have you ever contacted an online customer service representative regarding a product you have purchased? How come? If so, how did you and what was your experience like?

Question How do you determine where you purchase an item from online? - (best price, security, recommendations, site design, brand, etc. ?)

How do you determine where you purchase an item from online?

- (best price, security, recommendations, site design, brand, etc. ?)

Article Citation Online is great, but physical is powerful. (2007, December 10). Bismarck Tribune,p. B1-B6. Retrieved February 27, 2008, from ProQuest Newsstand database. (Document ID: 1396104501). Article Link: http://proquest.umi.com.offcampus.lib.washington.edu/pqdweb?index=12&did=1396104501&SrchMode=1&sid=1&Fmt=3&VInst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1204146892&clientId=2302