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MI0039 e-Commerce

Q1. Warigon is a retail company and they want to automate the payment system. Assume that you are the design engineer of that company. What are the factors that you would consider while designing the electronic payment system? Answer- DESIGNING ELCTRONIC PAYMENT SYSTEM: Electronic payment systems can be made more popular and successful by including several factors, these are: PRIVACY: Consumers always want their information to be confidential. Therefore, an electronic payment system must give complete privacy to information of the customer. SECURITY: An electronic payment system must be designed in such a way that it should provide complete security of the users information. A secure system verifies the identity of two-party transactions through "user authentication" and reserves flexibility to restrict information/services through access control. Tomorrow's bank robbers will need no getaway cars-just a computer terminal, the price of a telephone call, and a little ingenuity. Millions of dollars have been embezzled by computer fraud. No systems are yet fool-proof, although designers are concentrating closely on security. INTUITIVE INTERFACE: The user interface of the system should be user friendly and convenient to use. DATABASE INTEGRATION: A single database should be maintained to store the customers information, which will help the customer in accessing all the necessary data at one shot. With home banking, for example, a customer wants to play with all his accounts. To date, separate accounts have been stored on separate databases. The challenge before banks is to tie these databases together and to allow customers access to any of them while keeping the data up-to-date and error free. BROKERS: A network banker should be available 24/7 to help the customers in case of any issues. PRICING: Another issue is how we can price the payment systems services. While designing electronic payment system it should be known that without

subsides it is very difficult to price services affordably. One fundamental issue is how to price payment system service. For example, should subsidies be used to encourage users to shift from one form of payment to another, from cash to bank payments, from paper: based to e-cash. STANDARDS: Adherence to certain common standards enables interoperability by allowing customers to buy and receive information anytime and anywhere in the world. Without standards, the welding of different payment users in different networks and different systems is impossible.

Q2. Discuss the working concept of EDI. Answer. EDI WORKING CONCEPT: To understand let us consider an exampleABC is an automobile part distributor, which places over 100 purchase orders, with 50 different manufacturers on a daily basis. Now let us discuss the step by step process of electronic data interchange. 1. PREPARATION OF ELECTRONIC DOCUMENTS: The first step in any sequence of electronic data interchange is the collection and organization of data by ABCs internal application systems. Instead of printing out purchase orders, ABCs system builds an electronic file of purchase orders. There are a number of different methods to generate electronic documents as there are many numbers of businesses and applications. Some methods of generating electronic documents are: Transcribing data Reformatting existing computer based data Updating existing applications Purchasing Software

2. OUTBOUND TRANSLATION: The electronic file is then translated into a standard format. The result is a data file that contains a series of structural transactions related to the purchase orders. ABCs EDI translation software will produce a separate file for each manufacturer. 3. COMMUNICATION: ABCs computer automatically makes a connection with its Value Added Network, and transmits all the files that have been prepared.

Each file is processed by the VAN and is routed to the appropriate electronic mailbox for each manufacturer. Several manufacturers do not subscribe to the ABCs VAN, so files are automatically routed to the appropriate network service. Transferring data in a one-to-one EDI relationship can be as easy as connecting a modem and transferring the file. Even if the manufacturer had an extensive private network available for successful transmission, it is necessary that all vendors be linked into the network.

4. INBOUND TRNSLATION: The manufacturers retrieve the files from their electronic mailboxes at their convenience, and reverse the process that ABC went through, translating the file from the standard format into the specific required by the manufacturers application software. Once the transaction is complete, than it can be made usable in any desired format to the receivers internal applications. 5. PROCESSING ELECTRONIC DOCUMENTS: Each manufacturer will process the purchase orders received in their internal application systems. A vendor with a highly automated process may process the information directly into their applications and act upon it without any interferences. The final step is to close the loop by transmitting an acknowledgement transaction back to the vendor.

Q3.What are the four Ps of marketing? Explain how it is applied to internet marketing. Answer. Four Ps of marketing are: Product, Price, Place and Promotion THE FOUR PS APPLIED TO INTERNAL MARKETING: The four Ps Product, Price, Place and Promotion are widely used to divide marketing PRODUCT: Various factors have to be thought upon by online marketers with respect to the products they sell. The most obvious fact is that in e-marketing the customer cannot see or touch products in the same way they can when they visit a store or showroom. That is the reason why products such as books, CDs and computer goods have traditionally fared better than foods and clothes. PRICE: The internet has helped towards lowering of prices for certain products. The chances for comparative shopping have been increased by the internet. Some onlinemarkets like allow customers to set their own prices. Lower prices are way of encouraging customers to make their first online purchase as it involves minimal risk on the part of internet users. Pricing is an important factor in getting users

to buy products online, but it is not the only factor. Websites that encourage useful information and two-way interaction are likely to attract customers even if their prices are not low. PLACE: Location is considered as the most important factor when it comes to real world marketing. The location of shop in a commercial area or the prestigious address of an office does have an impact on marketing success rate in the real world. Irrespective of business location you will be able to reach people around the globe. Geographical limitations are completely eliminated but cultural differences are increased. PROMOTION: On the internet, promotion of a business is completely dependent on the business owner or company itself. There is no need to rely ob advertising or print media to get the message across. The internet puts promotion of a companys business on its own terms. Instead of relying on advertising or journalist to get its message across, It can communicate directly with its audience. Word of mouth is the one of the most powerful online promotions, referred to as viral marketing. Since, internet markets are networked, both positive and negative publicity can spread with great speed. The Promotional message must always be in tune with, and must incorporate, the voice of the market.

Q4. Analyze the structure of a website. Answer. The website structure is similar to the human skeleton or nervous system. A website is connected through a network of links into something that provides form and function to the site. In order to analyze the web structure, we first have to understand the basic web structure. A websites of three main areas or three tiers, which is the home page. HOME PAGE: The home page creates the first impression to the visitors. It should covey to the visitors that site is all about. Who, What and Why about the sites purpose should be explained by the home page. A sitemap or table of contents that guides visitors to the information they need should be included in the home page. Visitors will definitely view the website again, if they can find the information quickly and easily. The purpose of the homepage is to provide an overview of the site, giving the visitor a clear picture of what is available and how to get there. The home page must be short and to the point. MAIN SECTION: The main section is the headings of specific bodies of data. These are the gateways of particular areas of the website.

The main section is basically a collection of links that provide access to the main content in the subsections of the site. Every main section should cover a specific subject or data base which is focused on a single subject. SUB SECTION: Once the main section of the website is developed and navigation schemes are decided, the data should be grouped into subsections. A visitor who wants to look further into a site must be directed into the subsections through a navigation scheme that allows one click access to subsections. WEB STRUCTURE ANALYSIS: Analysis the web structure involves tracing the navigational habits of visitors on a website to determine methods for improving the structure by reorganization, and website design to better fit the visitors need. Companies can use scripts on each web page to monitor the visitors such as which links are clicked, how long the visitors stay active and a form to ask the visitors whether or not their search was successful. This form also asks what they were looking for. This information and the information generated by the web server log helps companies to recognize the web structure, Increase traffic and improve business.

Q5. List the benefits of on-line catalogue.

Online Catalogue:
An online catalogue is a list or itemized display, as of titles, course offerings, or articles for exhibition or sale, usually including descriptive information or illustrations. It is a time saving tool that provides valuable information to the prospective customer about the product specification. On-line catalogues are usually in the form of brochures and CD-ROMs. Currently most on-line catalogues are some form of electronic brochures also known as softads and intearads. Electronic brochures are a multimedia replacement for direct mail paper and diskette brochures used in the business to business marketing arena.
Because countless brands are making some sort of transition to the internet and promoting e-commerce (whether it be via social networks, their website, an app, etc.), in some cases, the amount of mail being sent out to our physical mailboxes has decreased and, therefore, there is still room to send out physical catalogs. At the same time, it would undoubtedly be foolish to ignore the numbers of online shoppers and the fact that e-commerce plays a roll, however big or small, in sales,

marketing, and business in general today. Prestimedia specializes in helping companies take their printed material and enlivening it with features and functions to better serve both the company and its customers. Branching out and putting a catalog online can be one of the best moves a company can make because it opens up a world of possibilities, unbound by the limitations of print.

The benefits of an online catalogue are that is: Facilities the buyer to buy at anytime and tracks the product line interest. Broadens your market reach locally and globally. Saves customers time and money with the help of online capability. Lowers marketing overheads like ordering, processing, and status-check costs. Improves order accuracy i.e. decline in unwanted calls, non-desirable faxes. Provides detailed, accurate, and updated information, including images, description, and prices. Increases brand awareness, product usage, generates print catalog request, collects prospects addresses, demographics and provides two way communications with customers. Improves leading categories like travel and entertainment ticketing, entertainment merchandise (books, magazines, videos and music), grocery and drugstore sales, computer software and computer hardware.

Q6.Define M-commerce. Describe the areas of potential growth and future of mCommerce

ANSWER. M-commerce is called as next generation e-commerce. The process of buying and selling of goods and services through wireless device such as cellular telephone and personal digital assistance (PDAs) is called m-commerce. The newly appearing technology behind m-commerce is based on the Wireless Application Protocol. The traditional e-commerce is replaced by m-commerce. Anywhere anytime is the important feature of m-commerce that leads us to implement m-commerce in place of e-commerce. Areas of potential growth and future for m-commerce: Now channels of banking services are working on m-commerce technologies. These new channels can facilitate deposits, payments, transfers and withdrawals. If the operational costs of the banking sector in m-commerce is reduced drastically then, efficiency in the transaction processing can be increased. The travel industry is concentrating more on m-commerce. M-commerce will allow customers to schedule, reschedule, plan trips through their mobile device instantly before they give a second thought. Traders in the retail sector focus more on how to locate customers more easily and will be able to provide secure payment methods through mobile digital certificates or voice recognition.

Some of the todays and upcoming attributes of m-commerce are discussed in table

below: Attributes Today Ubiquity-independent access anytime Reachability-access on your demand from anywhere Form factors- use the device that suits their needs and user preferences (PDA, PC, mobile phone and so on.) Convenience and accessibility- time and space constraints are removed and people can access application to their time and preferences. Security- use of means such as Security Socket Layer(SSL) to provide personal security, privacy of communications, and data integrity above that available in fixed internet environments. Emerging Attributes Localization-merging capabilities and sharing costs between retailers or a region wishing to push or promote mutual services and products. Instant connectivity-access to applications on demand using multiple technologies and more network option. Personalization-use of existing technology to receive what you want and how you want (Remove advertising so on.) In addition, retailer has more personal than a PC or TV that may have multiple users. Personalization also promotes brand positioning (control and targeting) and communication with a user in their desired language.