The+most+lucrative+business+is+E-+business

E-business is the a vast term encompassing the varios business processes that aim to integrate the vendors or trades with the consumers and suppliers using the internet. The entire process of setting up a website, helping the prospective customers navigate through the website, showing them the available products, offering discounts and vouchers and doing everything possible to woo the prospective clients and converting them into customers, comes under the purview of e-business. <span style="color: #003399; font-family: 'Arial','sans-serif'; font-size: 12pt; line-height: 115%; mso-ansi-language: EN-US; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; msoansilanguage: EN-US; msoasciithemefont: minor-latin; msobidifontfamily: Arial; msobidilanguage: AR-SA; msobidithemefont: minor-bidi; msofareastfontfamily: 'Times New Roman'; msofareastlanguage: EN-US; msofareastthemefont: minor-latin; msohansithemefont: minor-latin; text-decoration: none; textunderline: none;">[|E-commerce] , on the other hand, is a subset of e-business and refers to online transactions that can be accounted for in monetary terms. For instance, accepting credit card payment for products sold to consumers or making payments for shopping online are examples of e-commerce. In other words, e-commerce refers to the last stage of e-business which involves collecting payments for the goods sold by the business firm.

**Advantages of E-Business :**

**//Worldwide Presence//** : This is the biggest advantage of conducting business online. A firm engaging in e-business can have a nationwide or a worldwide presence. IBM was one of the first companies to use the term e-business to refer to servicing customers and collaborating with business partners from all over the world. Dell Inc. too had a flourishing business selling PCs throughout the US, only via telephone and the Internet till the year 2007. Amazon.com is another success story that helps people buy internationally from third parties. Hence, worldwide presence is ensured if companies rethink their business in terms of the Internet

**//Cost Effective Marketing and Promotions//** : Using the web to market products guarantees worldwide reach at a nominal price. Advertising techniques like <span style="color: #003399; font-family: 'Arial','sans-serif'; font-size: 12pt; line-height: 115%; mso-ansi-language: EN-US; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; msoansilanguage: EN-US; msoasciithemefont: minor-latin; msobidifontfamily: Arial; msobidilanguage: AR-SA; msobidithemefont: minor-bidi; msofareastfontfamily: 'Times New Roman'; msofareastlanguage: EN-US; msofareastthemefont: minor-latin; msohansithemefont: minor-latin; text-decoration: none; textunderline: none;">[|pay per click advertising]  ensure that the advertiser only pays for the advertisements that are actually viewed. Affiliate marketing, where customers are directed to a business portal because of the efforts of the affiliate who in turn receive a compensation for their efforts meeting with success, has emerged on account of e-business. <span style="color: #003399; font-family: 'Arial','sans-serif'; font-size: 12pt; line-height: 115%; mso-ansi-language: EN-US; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; msoansilanguage: EN-US; msoasciithemefont: minor-latin; msobidifontfamily: Arial; msobidilanguage: AR-SA; msobidithemefont: minor-bidi; msofareastfontfamily: 'Times New Roman'; msofareastlanguage: EN-US; msofareastthemefont: minor-latin; msohansithemefont: minor-latin; text-decoration: none; textunderline: none;">[|Affiliate marketing]  has helped both the business and the affiliates. Firms engaging in e-business have managed to use cost effective online advertising strategies to their advantage.

**//Developing a Competitive Strategy//** : Firms need to have a competitive strategy in order to ensure a competitive advantage. Without an effective strategy, they will find it impossible to maintain the advantage and earn profits. The strategy, that the firms can pursue, can be a be a cost strategy or a differentiation strategy. For instance, till the year 2007, Dell Inc. was selling computers only via the Internet and the phone. It adopted a differentiation strategy by selling its computers online and customizing its laptops to suit the requirements of the clients. Thus, e-business resulted in Dell Inc. managing to capture a vast segment of the market using the differentiation strategy.

**//Better Customer Service//** <span style="color: black; font-family: 'Arial','sans-serif'; font-size: 12pt; line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: 'Times New Roman'; mso-fareast-language: EN-US;">: E-Business has resulted in improved <span style="color: #003399; font-family: 'Arial','sans-serif'; font-size: 12pt; line-height: 115%; mso-ansi-language: EN-US; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; msoansilanguage: EN-US; msoasciithemefont: minor-latin; msobidifontfamily: Arial; msobidilanguage: AR-SA; msobidithemefont: minor-bidi; msofareastfontfamily: 'Times New Roman'; msofareastlanguage: EN-US; msofareastthemefont: minor-latin; msohansithemefont: minor-latin; text-decoration: none; textunderline: none;">[|customer service] <span style="color: black; font-family: 'Arial','sans-serif'; font-size: 12pt; line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: 'Times New Roman'; mso-fareast-language: EN-US;">. Many a times, on visiting a website, the customer is greeted by a pop-up chat window. Readily available customer service may help in encouraging the customer to know more about the product or service <span style="color: black; font-family: 'Arial','sans-serif'; font-size: 14pt; line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: 'Times New Roman'; mso-fareast-language: EN-US;">. <span style="color: black; font-family: 'Arial','sans-serif'; font-size: 12pt; line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: 'Times New Roman'; mso-fareast-language: EN-US;">Moreover, payments can be made online, products can be shipped to the customer without the customer having to leave the house.

<span style="font-family: 'Times New Roman','serif'; font-size: 16pt; line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: 'Times New Roman'; mso-fareast-language: EN-US;">Users need not be in the same physical location as an e-business and the exchange of information and transactions may take place at any given time, twenty-four hours a day, seven days a week and from any location in the world with Internet access. A physical location is restricted by size and limited to only those customers that can get there, while an online store has a global marketplace with customers and information seekers already waiting in line.
 * <span style="color: #00b050; font-family: 'Times New Roman','serif'; font-size: 18pt; mso-fareast-font-family: 'Times New Roman';">Removes Location and Availability Restrictions **<span style="font-family: 'Times New Roman','serif'; font-size: 20pt; mso-fareast-font-family: 'Times New Roman';">


 * <span style="color: red; font-family: 'Times New Roman','serif'; font-size: 18pt; mso-fareast-font-family: 'Times New Roman';">Reduces Time and Money Spent **<span style="font-family: 'Times New Roman','serif'; font-size: 18pt; mso-fareast-font-family: 'Times New Roman';">

<span style="font-family: 'Times New Roman','serif'; font-size: 14pt; line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: 'Times New Roman'; mso-fareast-language: EN-US;">In e-business, there is often a reduction in costs required to complete traditional business procedures. Many of those same traditional business approaches can be eliminated and replaced with electronic means, which are often easier to carry out as well as easier on the pocketbook. For example, compare the cost of sending out 100 direct mailings (paper, postage, staff and all), to sending out a bulk e-mail. Also think about the cost of paying rent at a physical location opposed to the cost of maintaining an online site.

<span style="font-family: 'Times New Roman','serif'; font-size: 14pt; line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: 'Times New Roman'; mso-fareast-language: EN-US;">With e-business customers receive highly customizable service, and communication is often more effective. There is far more flexibility, availability and faster response times with online support. For example, think about the speed of e-mail inquiries and live chat as opposed to getting on the phone, especially when that business is closed for the day. There is also a faster delivery cycle with online sales, helping strengthen the customer/business relationship. The internet is a powerful channel for reaching new markets and communicating information to customers and partners. Having a better understanding of your customers will help to improve customer satisfaction.
 * <span style="color: #e36c0a; font-family: 'Times New Roman','serif'; font-size: 16pt; mso-fareast-font-family: 'Times New Roman'; mso-themecolor: accent6; mso-themeshade: 191;">Heightens Customer Service **<span style="font-family: 'Times New Roman','serif'; font-size: 20pt; mso-fareast-font-family: 'Times New Roman';">

<span style="font-family: 'Times New Roman','serif'; font-size: 14pt; mso-fareast-font-family: 'Times New Roman';">The internet opens up a brand new marketplace to businesses moving online. Competition via the internet is growing as the internet itself grows and waiting too long to move online may cause you to lose your place in line entirely. Easy access to real time information is a primary benefit of the internet, enabling a company to give more efficient and valid information and helping to gain the competitive advantage over those that are not online. <span style="font-family: 'Times New Roman','serif'; font-size: 14pt; line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: 'Times New Roman'; mso-fareast-language: EN-US;">Although there are risks associating with e-business, as with most business decisions, there is also the risk associated with the inability to adapt to the changing times
 * <span style="color: #c00000; font-family: 'Times New Roman','serif'; font-size: 16pt; mso-fareast-font-family: 'Times New Roman';">Gives Competitive Advantage **<span style="font-family: 'Times New Roman','serif'; font-size: 20pt; mso-fareast-font-family: 'Times New Roman';">