What is Internet Commerce?

Internet commerce is the use of the Internet for all phases of creating and completing business transactions. It is a broad term covering all commercial activity on the internet, including auctioning, placing orders, making payments, transferring funds, and collaborating with trading partners. Internet commerce is not a synonym for e-commerce but it is one its subsets.

In its broadest sense, Internet Commerce includes:

    • The full sales and marketing cycle- for example, by analyzing online feedback to ascertain customer’s needs.
    • Indentifying new markets- through exposure to a global audience through the Internet.
    • Developing ongoing customer relationships- achieving customer loyalty through ongoing email interaction.
    • Assisting potential customers with their purchasing decision- for example, by guiding them through product choices in an intelligent way and helping them in decision making.
    • Providing round- the-clock points of sale- making it easy for buyers to order online, irrespective of time, location.
    • Supply Chain Management- supporting those in the supply chain, such as dealers and distributors, through online interaction.
    • Ongoing Customer Support- providing extensive after-sales support to customers by online methods; thus increasing satisfaction, deepening the customer relationship.

Companies evolve their Internet Commerce activities through six stages:

    1. The world-wide web as an online product catalogue- this has the advantage of being up-to-data and readily accessible.
    2. Pre-sales support though electronic mail- providing prompt and informed response to queries of potential buyers.
    3. Full transaction processing for placing order-through a secure server.
    4. Delivery of product or product update information-some products can be delivered online. For other, customers can be kept informed of new development.
    5. Collecting detail of prospective customers’ interest- typically though forms. This stage is more fully developed when these are handled in a database and targeted offers can be sent to those registered.
    6. Provision of interactive discussion facilities for customers with shared interests.

Also Read:-

What do you mean by e-commerce?

Why is e-commerce important? 

What are the functions of e-commerce?

Advantages and Disadvantages of E-commerce