E-commerce has the following features:
1. Individual Communication
Communication is individualized and interaction is with carefully selected individual customer. E-name is used for this purpose.
2. Data Depository
Internet is a central depository of huge amounts of data. It can be accessed all over the world through search engines. Websites contain information and they can be downloaded as needed.
3. E-mail and Electronic Platforms
E-mail and computer faxing is used for speedy transfer of messages to conduct business. Electronic platforms can be :
- EDI : Electronic data interchange for placing orders to suppliers. It is business to business exchange of data.
- ATM : Automatic teller machine to facilitate receiving digital cash. Smart cards are used to make payments.
- Computers : They receive orders from customers.
4. On-line Selling
E-commerce uses on-line selling. It has revolutionized selling through E-tailing, specially for:
- Airlines tickets and hotel bookings.
- Shares and financial services
- Cars and other vehicles
- Computer hardware and software
- Books and music
- Consumer electronics
- Fashion goods
5. Relationship Marketing
E-commerce builds long-term mutually satisfying relations. This leads to life time loyal customers. The relations are based on superior customer value and satisfaction. Long term profits are made by lifetime customer loyalty.