Definition of E-Commerce:

Electronic Commerce means buying and selling of goods and services across the internet. An e-commerce site can be as simple as a catalog page with a phone no, or it can range all the way to a real time credit and processing site where customer can purchase downloadable goods and receive them on the spot.
In the face of new market system forces create due to globalization and mounting competition, we can no longer follow historical paths and seek status quo. Companies are discovering old solution do not work with new business problems. The business has changed and so have the risk and payoffs.

Electronic commerce is more than just buying and selling products online. Instead, it encompasses the entire online process of developing, marketing, selling, delivering, servicing, and paying for products and services purchased by internetworked, global marketplaces of customers, with the support of a worldwide network of business partners.

Electronic commerce systems rely on the resources of the Internet, intranets, extranets, and other computer networks. Electronic commerce can include:

• Interactive marketing, ordering, payment, and customer support processes at e-commerce sites on the World Wide Web
• Extranet access of inventory databases by customers and suppliers
• Intranet access of customer relationship management systems by sales and customer service reps
• Customer collaboration in product development via Internet newsgroups and e-mail exchanges.