How E Commerce Has Impacted The Behavior Of People

During the last decades the world has seen an unprecedented considerable growth in information and communication technology, in fact thanks to internet, most of the countries in the world are linked together via satellite and servers networks, and it keeps growing at an exponential rate. This revolutionary change has impacted the behavior of people in doing business and which had risen e-commerce. According to Laudon and Traver e-commerce is the use of internet, the web and different application to conduct digitally enabled transaction between businesses and individuals. In e-commerce it’s mandatory that these transaction involve an exchange of value across the part in concern in return for a service or a good. E-commerce have significantly transformed commerce, in deed beforehand, commerce involved that sale and purchase of good and service using traditional marketing tools, marketers were influencing consumer behavior via advertising. Consumers were unable to have an accurate and symmetric information about the price, the quality, the cost of the product that they were buying, as a result, seller s were taking advantage of information asymmetry to raise their profit. Whereas, e-commerce has brought up a significant reduction in information asymmetry between market forces and allowed markets to get closer to perfect market competition. However, e-commerce allows sel lers to collect more precise information about consumer behavior and preferences which has given them theShow MoreRelatedThe Impact Of Technology On Managerial Accounting Essay1863 Words   |  8 PagesIntroduction Technological advances have dramatically changed many aspects within organizations and influenced how they operate today. In particular, technology has modernized accounting information in the way that it stored, shared and transmitted. 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