Understanding Ecommerce Terminology
With the development and advancement of technology the world is becoming a paper free world. Our dependence of computer has been increasing day by day. Today a child might not know how to hold a pencil but would surly know how to operate a computer. As some decades ago the English language gained momentum and today it's expected of every one to know and be fluent in English, the native language. This is the era of digital technology that is supported by computers. The benefits of the technology are also reaped by the business sector. These days the commerce word has a prefix called "e". That is to say that we are hearing a lot about e-commerce. E-commerce is nothing but business transactions being carried out by using the world wide internet. This could further be simplified to be understood as enabling transactions to happen digitally. Every thing is getting digitally based and due to commercial transactions being possible in a digital mode the world is coming close. It's not only easy but unbelievable fast when we have e based or digitally enabled transactions. To use this technology better it's important to clearly understand the types of e business or e commerce.
B2C is the first e-commerce model. It simply means a digitally enabled business transaction between a consumer and the seller. This could be understood with an example - when you purchase any thing by ordering over the net as an individual this is the B2C e-commerce model. This is the most popular form in the e-business segment. Initially it constituted a small proportion in the entire ecommerce set up, but it gained momentum in 1995.
B2B is digitally enabled business transaction between two business parties. The buyer is purchasing the product for commercial purposes and is not the end user as in the case of B2C. This model is quite beneficial for the large firms trading and dealing in bulks. Getting a quotation from the potential dealer and eventually choosing one could be very time consuming. B2B enables digital transactions possibly quoted when necessary and payment collected and orders could be placed within hours. Instant payments using internet triggers early deliver of the product.
C2C is a digitally based transaction between 2 consumers. The seller or the buyer both are the end consumer. Buying and selling might not be a regular affair for them. This type of C2C is really being facilitated and assisted by e-commerce software. As when you are a consumer and want to sell something, it's really difficult to start. Websites like e-bay gives you an option of uploading your items on the site to attract buyers.
P2P is the e-commerce model that facilitates digital transaction on a common platform. This basically helps in sharing digital file and other computer utilities without the use of central server.
There are other models as m-commerce which enables use of mobile for carrying out transaction. Then you have B2E - business to employee; G2B - Government to business; G2C- Government to Citizen. This is just the beginning with further advancement even the impossible cold become digitally possible.
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