Chapter 7 - Chapter 7 E-Business: Doing Business Online...

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Chapter 7 E-Business: Doing Business Online WHAT IS E-BUSINESS Electronic Business. Conducting business via the internet 1. E-tailing- virtual storefronts on Websites 2. Online business to business transactions 3. Electronic data interchange (EDI)- business-to-business exchange of data using compatible software 4. E-mail, instant messaging, and other Web-enabled communication tools and their use as media for reaching prospective and existing customers. 5. The fathering and use of demographic, product, and other information through Web contacts. CAPABILITIES AND BENEFITS OF E-BUSINESS Global Reach- Goods and services can be sold to customers worldwide Personalization- Companies can customize products and reduce inventory Interactivity- Customers and suppliers can negotiate prices online. Right-time and integrated marketing- Online retailers provide products when and where customers want them and promotions can be directed to individual customers. Cost savings- E- business can reduce costs BUSINESS WEB SITES - Increase a firm's visibility, promote its offerings, and provide information to interested parties. - Build customer goodwill and assist retailers and other resellers in their marketing efforts. - Disseminate financial information to investors. - Enable prospective employees to apply online for jobs. BUSINESS TO BUSINESS (B2B) -Business to business e-business- Electronic business transactions between businesses using the internet - B2b transactions total 2.5 trillion - By some estimates, account for 90% of all e-commerce activities - Can reduce cost of B2B transactions by almost 25% ELECTRONIC DATA INTERCHANGES, EXTRANETS AND PRIVATE EXCHANGES - Electronic Data Interchange (EDI)
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Chapter 7 - Chapter 7 E-Business: Doing Business Online...

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