Eight Unique Features of E-Commerce Technology:
1- Ubiquity
2- Global Reach
3- Universal Standards
4- Social Technology
5- Personalization and Customization
6- Information Density
7- Interactivity
8- Richness
1- Ubiquity:
E-Commerce is
characterized by its ubiquity. It means that it is available just about
everywhere and all the time. Ubiquity reduces transaction costs.
2- Global Reach:
E-commerce technology
facilitates commercial transactions to cross-cultural, regional, and national borders
for more expediently and cost-effectively than traditional commerce business models
which has certain limitations. Hence, the number of customers an E-Commerce
can reach is the whole world.
Reach: the total number of customers or users an E-Commerce business can obtain,
3- Universal Standards:
An unusual feature of
E-Commerce technology is that the technical standards of the internet, and
therefore the technical standards for conducting E-Commerce is a universal
standard.
Universal standards are
the common processes and procedures that are shared by all nations around the
world,
4- Richness:
Information richness denotes
to the complexity and contents of a message. Today, E-Commerce technologies have
potential for offering more and more information richness which traditional
media and printing presses lack.
5- Personalization and
Customization:
E-Commerce Technologies
permit personalization. Merchants can target and customize their marketing
messages to specific individuals by adjusting and fine-tuning the message to a
person’s name, interests, and past purchases (Behavioral Targeting).
E-Commerce technologies
also permit customization, which is changing the delivered product or service
based on a user’s preferences or prior behavior.
6- Information Density:
Information density can
be described as “the total amount and quality of information available to all
market participants; consumers and merchants alike”. E-Commerce technologies
help users in reducing research efforts, information collection, storage,
processing, and communication costs.
7- Social Technology:
New online social and
business models enable content creation and distribution and support social
networks.
E-Commerce technology has the potential to invert and outrun the standard media model by giving users the power and access to create and distribute content on a large scale, and allows users to program their own content usage.
8- Interactivity:
Unlike traditional technologies, E-Commerce technologies allow for interactivity. Interactivity is the technology that allows for two-way communication between merchants and consumers.
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