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EMERGING MODES OF BUSINESS 117 Benefits of e-Commerce 1. Business Organisation: (i) Expands the marketplace to national and international markets, (ii) Gradual decline in the cost of operations, (iii) Facilitates ‘pull’ supply chain management, (iv) Competitive advantage over competitors, (v) Proper time management and support business processes, and (vi) Small firms co-exist with big firms (win-win). 2. Benefits to Consumers and Society (i) Flexibility, (ii) Competitive price/discounts/waive offs, (iii) More options and choices and Customised products, (iv) Quick and Timely delivery (digitised products), (v) Employment potential, (vi) Facilitate e-Auctions and e-Tenders, (vii) Interaction with consumers, (viii) Wider outreach. therefore, entails a wide gamut of product features to be tailor-made to marketing activities such as identifying suit their requirements, but also the activities, promotion and sometimes convenience of delivery and payment even delivery of products (e.g., music at their pleasure. With the onset of or films) that are carried out online. e-commerce, all this has become a e-Commerce permits conduct of these reality. activities at a much lower cost but high Further,B2Cvariantofe-commerce speed. For example, ATM speeds up enables a business to be in touch with withdrawal of money. its customers on round-the-clock Customers these days are basis. Companies can conduct online surveys to ascertain as to who is becoming very choosy and desire individual attention to be given to buying what and what the customer them. Not only do they require the satisfaction level is. ATM speeds up Withdrawal of Money e-Commerce greatly facilitates and speeds up the entire B2C process. Withdrawal of one’s own money from banks was, for example, a tedious process in the past. One had to go through a series of procedural formalities before he or she was able to get the payment. After the introduction of ATMs, all that is fast becoming a history now. The first thing that occurs is that the customer is able to withdraw his money, and the rest of the back-end processes take place later. Reprint 2026-27