Answers:
Advantages of E-Commerce
All-time processing: Customers can use the marketplace at all times with the use of e-commerce services.
Better service: Customers are fully satisfied and receive better service.
No mediators: Customers can directly contact the suppliers and remove all mediators.
Data on consumer performance: Using the e-commerce services, one can understand consumer behaviour, for example, websites, products, schemes and modes of payment which are preferred by the customer.
Time saving: Customers can save time because they can purchase anything through the merchant websites.
Other Advantages
· E-commerce reduces the cost of the product.
· It reduces paperwork as the entire work is done electronically.
· The product is directly supplied to the customer because all orders and enquiries are processed online. This eliminates the need for wholesalers and retailers and brings down the cost.
· Improved customer relationship is achieved by fast dissipation of information.
Disadvantages of E-Commerce
Lack of customer awareness: People who have no knowledge about electronic communication like the Internet, and computers find it difficult to transact electronically.
Not for small business: Small businessmen do not want to take any extra burden because they have no knowledge of e-commerce functions.
Does not support all types of businesses: Some types of businesses are not fit for e-commerce services.
Legal formalities: Before implementing e-commerce services in the business, it is necessary to complete certain legal formalities like authorization and authentication.
Other Disadvantages
· High risk for Internet startup organization
· Security problems
· Customer relation problems
· Data integrity problems
· Customer satisfaction problems