Summary
Electronic commerce (EC)
The electronic commerce can be defined as very broadly as the exchange of goods, services, and money among firms, between firms and their customers, and between customers, supported by communication technologies and, in particular, the Internet.
Internet and World Wide Web Capabilities
Information Dissemination means that products and services can be marketed over vast distances
Integration–web sites can be linked to corporate databases to provide real-time access to personalized information. No longer must customers rely on old information from printed catalogues or account statements that arrive in the mail once a month.
Mass Customization means firms can tailor their products and services to meet a customer’s particular needs on a large scale
Interactive Communities means companies can communicate with customers, improving their image of responsiveness
Collaboration refers to different departments of a company can use the Web to collaborate
Transaction Support–clients and businesses can conduct business online without human support

EC Business Strategies
Brick-and-mortar Business Strategy refers to the strategies that firms operating solely in the traditional physical markets.
Click-only Business Strategy (virtual companies/pure play companies) means that the business is conducted electronically in cyberspace only. These firms usually compete on price alone.
Pros: compete more effectively on price; tend to be highly adept with technology and can innovate very rapidly as new technologies become available;
Cons: difficult for customers to return a product; Individuals may be leery about the security of giving credit card number to a virtual company
Click-and-mortar Business Strategy refers to the business model that firms that straddle the two environments, operating in both physical and virtual arenas
Pros: