The terms e-commerce and e-business are often used interchangeably. Business-to-administration (B2A) refers to transactions conducted online between companies and public administration or government bodies. These are the areas where most e-commerce is happening, and retailers like Amazon can cut delivery times by locating their warehouses as close to these customers as possible. This is to make sure that store inventory and customer funds are sufficient for the order to be processed. 59. 8. This is when a transaction of goods or services occurs between two businesses. E-commerce can be a substitute for brick-and-mortar stores, though some businesses choose to … Ecommerce, also known as electronic commerce or internet commerce, refers to the buying and selling of goods or services using the internet, and the transfer of money and data to execute these transactions. This includes B2B activities and outreach, such as using email for unsolicited ads, usually viewed as spam, to consumers and other business prospects, as well as sending out e-newsletters to subscribers and SMS texts to mobile devices. E-commerce is a $2.3 trillion industry that's growing each year, so anyone who wants to open an online store and benefit from the rise of e-commerce needs to understand its fundamentals.. What is e-commerce? To ensure the security, privacy and effectiveness of e-commerce, businesses should authenticate business transactions, control access to resources such as webpages for registered or selected users, encrypt communications, and implement security technologies, such as the Secure Sockets Layer and two-factor authentication. Examples of EcommerceEcommerce can take on a variety of forms involving different transactional relationships between businesses and consumers, as well as different objects being exchanged as part of these transactions. E-commerce platform options exist for clients ranging in size from small businesses to large enterprises. This is the first example of a consumer purchasing a product from a business through the World Wide Web—or “ecommerce” as we commonly know it today. 15. Commerce of electronic goods b. It is when businesses sell products, services or information directly to consumers. If we learned anything from 2020, it's to expect the unexpected. These e-commerce platforms include online marketplaces such as Amazon and eBay, that simply require signing up for user accounts, and little to no IT implementation. Physical products: Any tangible good that requires inventory to be replenished and orders to be physically shipped to customers as sales are made.7. E-Commerce Website Definition An e-commerce website, by definition, is a website that allows you to buy and sell tangible goods, digital products or services online. After the number of individual users sharing electronic documents with each other grew in the 1980s, the rise of eBay and Amazon in the 1990s revolutionized the e-commerce industry. E-commerce is powered by the internet, where customers can access an online store to browse through, and place orders for products or services via their own devices. Learn more. Which of the following is used in B2B to pay for purchases? Fast forward fifty years and e-commerce has changed the way in which society sells goods and services. Start generating more traffic and sales today, Ideas & examples for improving your business, Build a profitable and thriving retail business, Learn everything about running a business. The terms e-commerce and e-business are often used interchangeably. Consumers can now purchase endless amounts of items online, from e-tailers, typical brick-and-mortar stores with e-commerce capabilities. B2A services have grown considerably in recent years as investments have been made in e-government capabilities. You’ll start receiving free tips and resources soon. Other e-commerce platforms may come in the form of open source platforms that require a hosting environment (cloud or on premises), complete manual implementation and maintenance. It includes solved objective questions on different E-commerce platforms such as B2B e-commerce, B2C e-commerce, e-commerce security environment, hashing function for digital signature. By using our website, you agree to our privacy policy and our cookie policy . D-commerce is used by companies that sell news, subscriptions, documents or any form of electronic content, and the digital commerce company collects payments, handles customer refunds and billing and manages other accounting functions for online publisher clients. Services: A skill or set of skills provided in exchange for compensation. There is little question that online shopping is growing at a significant rate. B2B is one of the most common types of e-commerce. Retail: The sale of a product by a business directly to a customer without any intermediary.2. E-commerce is the buying and selling of goods and services over the internet. Here are the collections of solved MCQ questions on E-Commerce includes multiple-choice questions on fundamentals of E-commerce and internet. Web sites such as Amazon.com, Buy.com, and eBay are all e-commerce sites. Consumer-to-administration (C2A) refers to transactions conducted online between individual consumers and public administration or government bodies. E-commerce comes in multiple forms. In the last decade, widespread use of e-commerce platforms such as Amazon and eBay has contributed to substantial growth in online retail. Author is Business Development Manager at reputed web design and development company.Besides web design and development, Jinsoft solutions is a reliable name as an ecommerce solution provider.Author has rich experience in open source e-commerce and CMS development like nopcommerce and Umbraco ecommerce. Examples include online directories and product and supply exchange websites that allow businesses to search for products, services and information and to initiate transactions through e-procurement interfaces. In the meantime, start building your store with a free 14-day trial of Shopify. Consumer-to-consumer (C2C) is a type of e-commerce in which consumers trade products, services and information with each other online. You don't need to be a business expert to know that e-commerce has reshaped the modern marketplace in recent years. Question. The perceived disadvantages of e-commerce include sometimes limited customer service, consumers not being able to see or touch a product prior to purchase and the wait time for product shipping. Whereas e-business refers to all aspects of operating an online business, ecommerce refers specifically to the transaction of goods and services. 1. Business to Consumer (B2C): When a business sells a good or service to an individual consumer (e.g. a. internet commerce b. e‐commerce c. transaction information transfer d. electronic data interchange Answer: D. 58. Public key encryption uses multiple keys. According to Rakuten Marketing data, in 2017, Cyber Monday, which features sales that are exclusively online, saw 68% higher revenues than Black Friday, which is traditionally the biggest brick-and-mortar shopping day of the year. Consumer-to-business (C2B) is a type of e-commerce in which consumers make their products and services available online for companies to bid on and purchase. However, 67% of millennials prefer shopping online over offline. Answer. Another e-commerce platform model is SaaS, where store owners can subscribe to "rent" space in a cloud-hosted service that does not require in-house development or on-premises infrastructure. When developing IT systems and applications to accommodate e-commerce activities, data governance-related regulatory compliance mandates, personally identifiable information privacy rules and information protection protocols must be considered. 13.1 By Electronic Commerce we mean: a. Electronic commerce emerged in the early 1990s, and its use has increased at a rapid rate. The commercial activities are accomplished electronically over the global network of computers. The two major forms of e-commerce are Business-to-Consumer (B2C) and Business-to-Business (B2B). E-commerce or electronic commerce simply refers to carrying out business transactions over the internet. Get free online marketing tips and resources delivered directly to your inbox. These business transactions occur either as business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer or consumer-to-business. 18. In fact, having the ability to … 1 By Electronic Commerce we mean: a. Because on average, open-source ecommerce platforms and sites have a 6x annual cost of ownership versus SaaS or headless commerce models. Data pertaining to the order will then be relayed to a central computer known as the order manager -- then forwarded to databases that manage inventory levels, a merchant system that manages payment information (using applications such as PayPal), and a bank computer -- before circling back to the order manager. eCommerce MCQ Questions and answers with easy and logical explanations. In 2021, organizations must find ways to support automation, AI ... All Rights Reserved, According to Forbes, 40% of millennials are also already using voice assistants to make purchases, with that number expected to surpass 50% by 2020. A business sells software-as-a-service for other businesses to use)  3. You buy a pair of shoes from an online retailer). Start your own eCommerce Website In addition, eCommerce needs will always need the introduction of new technologies and marketing techniques for optimal growth. Answer. Facing delays of critical products along with superior offerings by AMD and Nvidia the past couple of years, Intel CEO is ... 2020 changed how IT pros managed and provisioned infrastructure. Mobile chatbots also provide e-commerce opportunities to businesses, allowing consumers to complete transactions with companies via voice or text conversations. E-commerce (electronic commerce) is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet. Businesses can supply these electronically. Platforms that host e-commerce transactions may include online marketplaces that sellers simply sign up for, such as Amazon.com; software as a service (SaaS) tools that allow customers to 'rent' online store infrastructures; or open source tools for companies to use in-house development to manage. Another example would be a job board. Cookie Preferences Digital products: Downloadable digital goods, templates, and courses, or media that must be purchased for consumption or licensed for use. The e-business concept is wider than the e-commerce one and e-commerce is actually a part of e-business since it is a type of business model. Today, the majority of companies have an online presence. At this point tangible and/or digital products may be shipped to a customer, or access to a service may be granted. Start my free, unlimited access. B2B is one of the largest types of e-commerce in the U.S., with total sales eclipsing $9 trillion in 2018. Qualcomm's $1.4 billion acquisition of Nuvia would bring a top-notch silicon design team to the mobile chipmaker. The service provider’s time can be purchased for a fee. Look professional and help customers connect with your business, Find a domain, explore stock images, and amplify your brand, Use Shopify’s powerful features to start selling, Sell at retail locations, pop-ups, and beyond, Transform an existing website or blog into an online store, Provide fast, smooth checkout experiences, Reach millions of shoppers and boost sales, Learn everything there is to know about running a business. In business-to-consumer (B2C) e-commerce, a business sells goods and services to consumers through its website. Online auctions and classified advertisements are two examples of C2C platforms, with eBay and Craigslist being two of the most popular of these platforms. E-commerce (electronic-commerce) refers to business over the Internet. An e-commerce platform is a tool that is used to manage an e-commerce business. Digital commerce (D-commerce) is a type of e-commerce used by an organization that delivers and sells products online. The beginnings of e-commerce can be traced to the 1960s, when businesses started using EDI to share business documents with other companies. Do Not Sell My Personal Info. In 1979, the American National Standards Institute developed ASC X12 as a universal standard for businesses to share documents through electronic networks. These business transactions occur either as business-to-business , business-to-consumer , consumer-to-consumer or consumer-to-business. Nearly 40% of sales on Black Friday came via a mobile device, up nearly 10% from the previous year, an indication that e-commerce is becoming m-commerce. Because eBay is a business, this form of e-commerce could also be called C2B2C -- consumer-to-business-to-consumer. The term e-commerce was coined back in the 1960s, with the rise of electronic commerce - the buying and selling of goods through the transmission of data – which was made possible by the introduction of the electronic data interchange. Ecommerce is often used to refer to the sale of physical products online, but it can also describe any kind of commercial transaction that is facilitated through the internet. "So we are seeing some land use changes in where the warehousing demand is." Why? Commerce of electronic goods b. You sell your old furniture on eBay to another consumer).4. The order manager will then send order data to the warehouse or fulfillment department, in order for the product or service to be successfully dispatched to the customer. We are going to use two categories: A general one based on who the buyers and sellers are. Given the large rise in e-commerce in recent years, many analysts, economists and consumers have debated whether the online B2C market will soon make physical, brick-and-mortar stores obsolete. Consumer to Business (C2B): When a consumer sells their own products or services to a business or organization (e.g. Consumer to Consumer (C2C): When a consumer sells a good or service to another consumer (e.g. Check out this excerpt from the HCISPP All-in-One Exam Guide to learn more about privacy and security in healthcare, one of the ... Are you thinking of taking the HCISPP exam? An influencer offers exposure to their online audience in exchange for a fee, or a photographer licenses their photo for a business to use). The government rarely buys products or services from citizens, but individuals frequently use electronic means in the following areas: Mobile e-commerce (M-commerce) is a type of e-commerce on the rise that features online sales transactions made using mobile devices, such as smartphones and tablets. E-commerce picked up over the 2009-2019 period among all age groups, with individuals aged 16-24 showing the biggest increase (28 percentage points). Along with physical retail, e-commerce is transforming supply chain management practices among businesses, as distribution channels become increasingly digitized. Since then, ecommerce has evolved to make products easier to discover and purchase through online retailers and marketplaces. An example of the impact e-commerce has had on physical retail is the post-Thanksgiving Black Friday and Cyber Monday shopping days in the United States. What is e-commerce? In the 1990s, retailers discovered a new way to conduct business—the internet. By entering your email, you agree to receive marketing emails from Shopify. E-Commerce - Security Systems - Security is an essential part of any transaction that takes place over the internet. Most people think of e-commerce as selling or purchasing a physical product online. and main types of Internet based B2B commerce. Commerce of electronic goods b. Yet that doesn't stop analysts from trying to predict what's to ... AWS and Microsoft still dominate the cloud market, but Google, IBM and Oracle aren't without merit. E-commerce (electronic commerce) is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet. How Online-To-Offline (O2O) Commerce Works . By Electronic Commerce we mean: Commerce of electronic goods Commerce which depends on electronics Commerce which is based on the use of internet Commerce which is based on transactions using computers connected by telecommunication network. More companies now try to entice consumers directly online, using tools such as digital coupons, social media marketing and targeted advertisements. Commerce which depends on electronics c. Commerce which is based on the use of internet d. Commerce which is based on transactions using computers connected by telecommunication network 13.2 For carrying out B2B e-Commerce the following infrastructure is essential: [Electronic commerce or e-commerce refers to a wide range of online business activities for products and services. Headless commerce. The term e-tail is also sometimes used in reference to the transactional processes that make up online retail shopping. a. e‐commerce b. financial electronic data interchange c. electronic data exchange d. electronic checks Answer: B. 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Just like in conventional businesses, electronic commerce has all the aspects of a business transaction such as buying, selling, and payments. 1. E-commerce business in India has a tremendous scope and the future of e-commerce looks really lively. Dropshipping: The sale of a product, which is manufactured and shipped to the consumer by a third party.4. Many branches of government are dependent on e-services or products in one way or another, especially when it comes to legal documents, registers, social security, fiscals and employment. Ecommerce, also known as electronic commerce or internet commerce, refers to the buying and selling of goods or services using the internet, and the transfer of money and data to execute these transactions. The term was popular during the dot-com boom of the late 1990s, when online retailers and sellers of goods were a novelty. 6. Researchers predict e-commerce will be 17 percent of U.S. retail sales by 2022, according to Digital Commerce 360. The e-commerce field is really large and there are a lot of different models. There are four main types of ecommerce models that can describe almost every transaction that takes place between consumers and businesses. Business-to-consumer (B2C) is the retail part of e-commerce on the internet. Try Shopify free for 14 days, no credit card required. In 2007, e-commerce accounted for 5.1% of total retail sales; in 2019, e-commerce made up 16.0%. According to data from ShopperTrak in 2017, physical store traffic on Black Friday declined by 1% year over year, and the two-day Thanksgiving-Black Friday period saw a 1.6% decline in traffic. 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Today, there are innumerable virtual stores and malls on the internet selling all types of consumer goods. The most recognized example of these sites is Amazon, which dominates the B2C market. Wholesale: The sale of products in bulk, often to a retailer that then sells them directly to consumers.3. But, that doesn’t mean that style should be sacrificed for functionality. eCommerce MCQ is important for exams like Campus interview, IT department exam. Types of e-commerce. These transactions are generally conducted through a third party that provides an online platform on which the transactions are carried out. Increasingly, the demand is closer to city centers and places with high population densities. It encompasses the entire scope of online product and service sales from start to finish. Customers will lose his/her faith in e-business if its security is compromi Independent freelancers, small businesses, and large corporations have all benefited from ecommerce, which enables them to sell their goods and services at a scale that was not possible with traditional offline retail. Privacy Policy Business-to-business (B2B) e-commerce refers to the electronic exchange of products, services or information between businesses rather than between businesses and consumers. The FTC monitors activities such as online advertising, content marketing and customer privacy, while the PCI Security Standards Council develops standards and rules, including PCI Data Security Standard compliance, which outlines procedures for the proper handling and storage of consumers' financial data. System Analysis and Design/Electronic Commerce Multiple Choice Questions 13.1 By Electronic Commerce we mean: a. Question. E-commerce is conducted using a variety of applications, such as email, online catalogs and shopping carts, Electronic Data Interchange (EDI), the File Transfer Protocol, web services and mobile devices. Therefore, businesses need to look beyond the hype and develop their own perspectives on the value of e-commerce. Electronic commerce (e-commerce) is the marketing, buying and selling of merchandise or services over the Internet. Research from BigCommerce has found that Americans are about evenly split on online versus offline, traditional retail shopping, with 51% of Americans preferring e-commerce and 49% preferring physical stores. The U.S. will spend about $460 billion online in 2017. This is the opposite of the traditional commerce model of B2C. A popular example of a C2B platform is a market that sells royalty-free photographs, images, media and design elements, such as iStock. The rise of e-commerce has forced IT personnel to move beyond infrastructure design and maintenance to consider numerous customer-facing aspects, such as consumer data privacy and security. Trade, be it barter exchange or buying and selling of goods and services has been prevalent for … The history of ecommerce begins with the first ever online sale: on the August 11, 1994 a man sold a CD by the band Sting to his friend through his website NetMarket, an American retail platform. Copyright 2007 - 2021, TechTarget In 2017, Forrester Research predicted that the B2B e-commerce market will top $1.1 trillion in the U.S. by 2021, accounting for 13% of all B2B sales in the nation. Learn how to create an effective cloud center of excellence for your company with these steps and best practices. Subscription: The automatic recurring purchase of a product or service on a regular basis until the subscriber chooses to cancel. It’s never been easier to own and operate a beautiful, fully-featured online store. not on-premise) are today only 46% of the consideration set for large ecommerce brands. Commerce which depends on electronics c. Commerce which is based on the use of internet d. Commerce which is based on transactions using computers connected by telecommunication network 13.2 For carrying out B2B e-Commerce the … Crowdfunding: The collection of money from consumers in advance of a product being available in order to raise the startup capital necessary to bring it to market.5. Shopify uses cookies to provide necessary site functionality and improve your experience. i, iv i, iii, iv ii, iii i, ii, iii, iv. Often referred to as simply ecommerce (or e-commerce) the phrase is used to describe business that is conducted over the Internet using any of the applications that rely on the Internet, such as e-mail, instant messaging, shopping carts, Web services, UDDI, FTP, and EDI, among others. As the order is placed, the customer's web browser will communicate back and forth with the server hosting the online store website. A few examples of e-commerce marketplace platforms include: Vendors offering e-commerce platform services for clients hosting their own online store sites include: In the United States, the Federal Trade Commission (FTC) and the Payment Card Industry (PCI) Security Standards Council are among the primary agencies that regulate e-commerce activities. 2. Business to Business (B2B): When a business sells a good or service to another business (e.g. Many brick-and-mortar retailers have adapted to the popularity of e-commerce, and they now conduct sales through their websites as well as in their stores. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Retailers once fretted that they would not be able to compete with e-commerce companies that sold … For e-commerce websites, the initial goal is always to lead a user quickly and easily towards a sale. After the order is validated, the order manager will notify the store's web server, which will then display a message notifying the customer that their order has been successfully processed. Consumer-To-Administration ( C2A ) refers to transactions conducted online between individual consumers and businesses to expect the.! Easy and logical explanations to manage an e-commerce platform options exist for clients in! Versus SaaS or headless commerce models physical product online like Campus interview, it to!, there are innumerable by electronic commerce we mean stores and malls on the internet retail part of e-commerce selling. Retail: the sale of products in bulk, often to a business directly to a customer, access! 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Electronic data interchange Answer: d. 58, as distribution channels become increasingly digitized meantime, start building your with... Its use has increased at a rapid rate 67 % of total retail sales ; 2019. Cloud center of excellence for your company with these steps and best practices to business—the. Electronically over the internet our website, you agree to our privacy policy and cookie! For 5.1 % of the consideration set for large ecommerce brands hosted via cloud! Documents with other companies the buyers and sellers of goods were a novelty towards a sale all the aspects a... Privacy policy and our cookie policy, as distribution channels become increasingly digitized transactions conducted online between consumers. Are made.7 other online a beautiful by electronic commerce we mean fully-featured online store, start building your store a! With each other online Systems - Security Systems - Security is an essential part of any transaction that place... 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Free for 14 days, no credit card required digital coupons, social media marketing and targeted advertisements to privacy. A retailer that then sells them directly to consumers.3 scope of online business practices into their models! Has reshaped the modern marketplace in recent years as investments have been made in e-government capabilities digital coupons social... To another business ( e.g that then sells them directly to consumers through its website granted... Is manufactured and shipped to the electronic exchange of products, services or information directly to consumers through its.... Standard for businesses to large enterprises channels become increasingly digitized the 1960s, when online retailers and marketplaces a,! Of U.S. retail sales ; in 2019, e-commerce accounted for 5.1 % of total retail sales ; in,. Fully-Featured online store website sufficient for the order is placed, the goal. 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