Page 26 - Banking Finance December 2016

COVER STORY

STRATEGY TO

EXPLOIT THE

BUSINESS

POTENTIAL IN

E-COMMERCE

A s today's busy world is changing rapidly due to the internet, through which transactions or terms of sale

various technological advancement in society,
are performed electronically. Some examples of e-com-
merce are online shopping, electronic payments, online
we are left with minimal time to do the basic ac-
tivities such as shopping, banking & relaxing. So
along came e-Shopping, and e-Banking. The auctions, internet banking, online ticketing, etc.
internet has become a more globally known form of com- The advantages of e-commerce are:
munication around the world these days and it's used largely i) Expanded geographical reach
in conjunction with personal/business tools to expand the ii) Expanded customer base
horizons of e-commerce. E-commerce plays a major role in
how the internet is used in terms of a consumer business, iii) Increased visibility through search engine marketing
or B2B relationship. iv) Provide customer valuable information about business
v) Available 24/7/365
E-commerce is buying and selling of goods and services on
vi) Build customer loyalty
vii) Reduction of marketing and advertising costs
About the author viii) Collection of customer data

Deenanath Jha ix) Cheaper advertising & marketing
Chief Manager (Research) at SBIICM Hyderabad. He x) Helps build brand credibility
has over four years of experience in IT Research in SBI xi) Gathers feedback from customers
and over 18 years of experience in Banking. He also xii) Conducts cheap market research
won second prize in IIBF's Micro Research competition xiii) Increases efficiency, profitability and growth opportu-
(2014-15).
nity.

26 | 2016 | DECEMBER | BANKING FINANCE

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