SEVEN UNIQUE FEATURES OF E-COMMERCE TECHNLOGY AND THEIR SIGNIFICANCE

·        Is ubiquitous ( available everywhere, all the time )

Ø  Marketplace = physical place you visit to buy/sell e.g. Mega Bangna, The Mall

Ø  Marketspace = online place where marketplace is beyond the traditional boundaries

·        Offers global reach ( across cultural/ national boundaries )

·        Operates according to universal standards ( lower market entry for merchants and search costs for consumers )

Ø  Technical standard = internet standards for conducting e-commerce shared by all nations around the world

·        Provides information richness ( more powerful selling environment )

Ø E.g. internet can deliver “rich” marketing message to millions of audiences via voice, video, audio, text

·        Is interactive ( can simulate face-to-face experience, but on a global scale )

Ø Allow immediate and direct communication between merchant and customers such as live chat, video chat, leave comments or reviews) it’s almost face-to-face experiences.

·        Increases information density ( amount and quality of information available to all market participants )

Ø e.g. spend less to improve advertising content/information/ web content. Improve quality of information with little money.

·        Permits personalization / customization

Ø Personalization : technology that make merchant get customers’ data e.g. knowing customers’ name, interested product, past purchase by using member card.

Ø  Customization : technology that allow customer customize product or services according to their needs. e.g. Niki’s website allows customers design sport shoes by their own and produce it up to the order