Various features of E-commerce are
Improved Responsiveness
E-commerce helps by improving responsiveness to market conditions and customer preferences. Every business must know how important timing is to marketing and selling products. Timing is important to cater to the demands of customers. E-commerce network enables a company to implement marketing programs with greater precision such as
- Pre-empt competitiveness with a change in marketing tactics before they can react.
- Improve responsiveness by revising price change and marketing program as required.
Expedites and Streamlines Reporting
Electronic commerce improves delivery and distribution both within and outside organizations. The benefits are
- Stored lists of key recipients facilitate distribution.
- Electronic delivery time.
Effectiveness and Efficiency
Electronic commerce can increase the efficiency and effectiveness of public relation programs, financial updates and other corporate communications. Copy reviews and approvals are expedited by circulating instant messages to key internal and external contacts.
Ubiquity
The marketplace is extended beyond traditional boundaries and is removed from a temporal and geographic location. “Market space” is created; shopping can take place anywhere. Customer convenience is enhanced, and shopping costs are reduced.
Global Reach
Commerce is enabled across cultural and national boundaries seamlessly and without modification. “Market space” includes potentially billions of consumers and millions of businesses worldwide.
Universal Standards
There is one set of technology standards, namely internet standards for transacting over internet using E-commerce.
Richness
Video, audio, and text marketing messages are integrated into a single marketing message and consuming experience.
Interactivity
Consumers are engaged in a dialog that dynamically adjusts the experience to the individual, and makes the consumer a co-participant in the process of delivering goods to the market.
Personalization / Customization
Personalization of marketing messages and customization of products and services are based on individual characteristics.
