The document discusses key features of e-commerce including ubiquity, global reach, universal standards, richness, interactivity, information density, and personalization. It explains how each feature is enabled by internet technology and provides business significance such as creating marketplaces without geographic boundaries, including billions of potential customers worldwide, delivering rich multimedia content globally, and engaging in two-way dialogue and personalized marketing with customers.

1. Features of E-Commerce Er.Sartaj Singh Bajwa

2. Ubiquity ( available just about everywhere at all time) Er.Sartaj Singh Bajwa Technology Dimension Business Significance Internet Technology is available everywhere, at work, at home, and elsewhere via mobile device, anytime Marketplace is created or extended beyond traditional boundaries and removed from a geographic location. Shopping can take place anywhere. Reduced shopping costs. Customer convenience enhanced

3. Global Reach ( total number of users or customers an e-commerce business can have ) Er.Sartaj Singh Bajwa Technology Dimension Business Significance Technology reaches beyond national boundaries Commerce is enabled across cultural and national boundaries seamlessly and without modification. Marketplace includes potentially billions of consumers and millions of businesses world wide

4. Universal Standards (standards that are shared by all nations around the world ) Er.Sartaj Singh Bajwa Technology Dimension Business Significance There is one set of technology standard, namely Internet Standards Lower market entry costs, Reduce product search cost and by creating a single , one world market place, where price discovery becomes simpler, faster and more accurate Easily find all the suppliers, prices, and delivery terms of a specific product anywhere in the world

5. Richness ( the complexity and content of a message ) Er.Sartaj Singh Bajwa Technology Dimension Business Significance Video, Audio and Text Messages are possible E-Commerce technologies have changed the traditional tradeoff between Richness and the Reach. The Internet and web can deliver to an audience of millions rich marketing messages in a way not possible with traditional technologies like radio, TV and magazines.

6. Interactivity (two way communication ) Er.Sartaj Singh Bajwa Technology Dimension Business Significance The technology that allows two way communication between merchant and consumer Consumers are engaged in a dialogue that dynamically adjusts the experience to the individual, and make the consumer a co- participant in the process of delivering goods to the market.(which is not possible in other mediums like TV , radio) Similar to face-to-face experience but on a massive global scale

7. Information Density (total amount & quality of information available to all market participants) Er.Sartaj Singh Bajwa Technology Dimension Business Significance The technology reduces information cost and raises quality Information processing, storage and communication costs drop dramatically while accuracy and timeliness improve greatly. Information becomes plentiful, cheap and accurate Eg price discrimination in which a merchant can sell the same good to different targeted market with a different price

8. Personalization (targeting of marketing message to a specific individual by adjusting the message to a person`s name , interest & past purchases ) Er.Sartaj Singh Bajwa Technology Dimension Business Significance Technology allows personalized messages to be delivered to individuals as well as groups Personalization of marketing messages and customization of products and services are based on individual characteristics