E-Commerce is one of the fastest-growing industries in the global economy E-Commerce is a business in which online transactions involving electronic purchasing or selling of products happen on the internet. It is also known as Electronic Commerce or Internet Commerce. The methodology for E-Commerce has evolved so much over the years with the brands taking the products directly to the consumer without any involvement of the retailer, distributor, wholesaler, and other types of middleman.
Many forms of E-Commerce are well known but the most famous among all has to be Online Shopping. It involves the companies selling products to the people for buying it on the internet from any digital device. From electronic payments, internet banking, online ticketing, and virtual auctions, they all come in the ambit of E-Commerce. Transfer of funds and exchange of data also happens as a part of E-Commerce activity.
Some of the world’s top companies have expanded or are looking to expand their business to E-Commerce. It’s because E-Commerce is one of the fastest-growing industries in the global economy with a 23% increment every year. As per current estimation by top agencies, E-Commerce is all set to reach a $27 Trillion mark by the end of the year 2020. With such a great scope in an E-Commerce business, no wonder it is growing so much and at a rapid rate in the recent past.
Iglobe Solutions has recognized this fact about E-Commerce, and with that thought in mind, we began an E-Commerce business of selling top-quality and affordable mobile back covers on our website Crockroz.Com. At this website, you can get the mobile back cover with the designs and patterns that are based on prevalent happenings or as per your customized choices to enhance your smart phone’s aesthetic appeal and make it look classier. We are also working on expanding our business by establishing a new mobile back cover brand in times to come. In all, there are a lot of good things to look forward to with regards to the E-Commerce business at Iglobe Solutions.
Ways to start an E-Commerce Business
Setting up an online store for conducting E-Commerce business doesn’t take much time, but researching the products, building a brand, launching the business, and thereafter making it a profitable E-Commerce solution takes lots of hard work and tough decisions. Firstly, the most essential thing is to choose a product that you are looking to sell. Thereafter, you have to do the analytical research about the product with regards to its availability in the market, learning about the competition, pricing dynamics, and its value to the business. Next up is to select a brand name, logo and guidelines, domain name to attract potential customers into purchasing your products. To make the E-Commerce business a reality, you have to decide on how to sell the products. It can happen either by creating a customized E-Commerce store from scratch with the help of an agency or using the E-Commerce platform like Shopify to start an E-Commerce store to sell your products.
All these services like consultancy, product analytics, web development, and mobile app creation, etc, are readily available at Iglobe Solutions to kick-start your E-Commerce business. Thereafter, the next step is going to be promoting the online store with digital marketing services provided by Iglobe Solutions like search engine optimization (SEO), social media marketing (SMO), pay per click (PPC), and content marketing, etc. With these services, you can not only begin your E-Commerce business but also promote it to newer heights of success.
With reference to the case study, answer the following questions and make sure to use relevant examples.
1. In great detail, based on the passage and your comprehension explain the term e-commerce.
(Marks 8)
2. Diffenanciate between pure e-commerce and partial e-commerce, use examples from the text. (10 Marks)
3. Distinguish between the different types of e-commerce transactions. (12 Marks)
4. Elaborate your understanding of the factors that can contribute to the failure of an online venture. (20 Marks)
5. Contrast the Schools of entrepreneurial opportunities theories use examples. (15 Marks)
6. Analyse the opportunities process, using local examples. (15 Marks)
7. Discuss the various strategies for entry into the international business arena. (10 Marks)
8. Explain the factors to be considered when entering into strategic alliances. (10 Marks

Each type of e-commerce transaction has its unique characteristics and requirements, catering to different needs and markets.

1. E-commerce, short for electronic commerce, refers to the buying and selling of goods or services over the internet. It involves online transactions conducted through electronic means, such as websites or mobile apps. In the passage, it is described as an industry that has experienced significant growth and has evolved over the years. E-commerce eliminates the need for traditional intermediaries, such as retailers or wholesalers, allowing businesses to directly connect with consumers. The passage mentions online shopping as a popular form of e-commerce, where companies sell products to people who can purchase them through the internet using any digital device. E-commerce also encompasses various activities like electronic payments, internet banking, online ticketing, and virtual auctions. The passage highlights the rapid growth and potential of the e-commerce industry, with many companies expanding their business into this domain.

2. Pure e-commerce refers to businesses that operate solely online, without a physical presence. These businesses rely entirely on electronic means for conducting transactions and interacting with customers. An example from the text is Iglobe Solutions, which started an e-commerce business of selling mobile back covers exclusively through their website, Crockroz.Com.

Partial e-commerce, on the other hand, involves businesses that have both an online and a physical presence. These businesses may have brick-and-mortar stores in addition to an online platform. They utilize both channels to reach and serve their customers. An example from the text is a company that chooses to sell their products through both a physical store and an online store using an e-commerce platform like Shopify.

Both pure and partial e-commerce have their advantages and challenges. Pure e-commerce allows for global reach and lower overhead costs, while partial e-commerce can offer a more personalized customer experience and cater to different customer preferences.

3. There are several types of e-commerce transactions:

a) Business-to-Consumer (B2C): This type of transaction involves a business selling products or services directly to individual consumers. An example from the passage is when companies sell mobile back covers to people through online shopping platforms.

b) Business-to-Business (B2B): In this type of transaction, businesses sell products or services to other businesses. An example from the passage is when Iglobe Solutions expands its business by establishing a new mobile back cover brand.

c) Consumer-to-Consumer (C2C): This type of transaction occurs when individuals sell products or services to other individuals. An example of C2C e-commerce is when people use online platforms like eBay or Craigslist to sell their used items to other individuals.

d) Consumer-to-Business (C2B): In this type of transaction, individuals sell products or services to businesses. An example could be freelance professionals offering their services to businesses through online platforms.

e) Business-to-Government (B2G): This type of transaction involves businesses selling products or services to government entities. An example could be a company providing software solutions to a government agency.

f) Government-to-Business (G2B): In this type of transaction, government entities sell products or services to businesses. An example could be a government agency selling surplus equipment to businesses through an online auction.

Each type of e-commerce transaction has its unique characteristics and requirements, catering to different needs and markets.

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