[Overview of E-

commerce]
Assignment 1

Mohammad Imran Hossain Khandaker 2018511080043

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Name: Mohammad Imran Hossain Khandaker 2018511080043

Professor name: Joy Zhu
Coerce name: Electronic commerce
Due date :25.10.2020
Overview of e- commerce framework

Electronic commerce is knowledge sharing business, building business relationships

maintaining business communication and making telecommunication networks, E-
commerce is a business model that the platform which is individuals, B2B, B2C buy and sell
things all over the internet. This report aims to focus overview of e-commerce, status, includes
the process of electronically buying and selling goods, services, and information. The paper shall
also list of applying the framework for electronic commerce. Also, discuss the constraints of e-
commerce development and technologies in Bangladesh.

E-commerce or Electronic commerce has brought completely changes in the business. The
inception of net/ network technology made it possible. Over the world is experiencing an
excellent transition in corporate and commercial business, recently internet is used as a tool for
business. E-commerce has grown quickly Worldwide and also in Bangladesh. Now these time
internet services are available in Bangladesh. Right now, statistics facts, 52% of the sector
population are internet users (Internet W. S., 2018). That offers us a demonstration of ways e-
commerce goes to make an effect in the future or presently impacting on our business and social
life. E-trade commercial Business precept can apply in all commercial business models, like B2B
(Business to Business), B2C (business to consumer), C2B (Consumer to Business) and C2C
(Consumer to Consumer). Last two a long time the world has observed outstanding increase in e-
commerce. In 2017, the worldwide e-commerce income amounted to 2.3 trillion USD and
projected to elevate 4.88 trillion USD by way of 2021 (eMarketer, 2018). In Bangladesh, a few
of the dimensions of e-commerce, there may be a constrained software and use of B2C e-
commerce. But a vast part of overall eCommerce websites is engaged in C2C e-commerce that is
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auction-based commerce between C2C. Other fields aren't but not well developed in Bangladesh.
There are many reasons behind this one simple reason this country is not so developed and most
of its citizen are poor. It is quite natural that few customers are inclined and might shop on the
internet. It may take years to be developed in this region in Bangladesh, but there is evidence
discovered that it's also developing swiftly and shortly will attain at a prosperous stage.

E commerce in Bangladesh
The economic boom of Bangladesh is pretty consistent and showing an upward fashion
Last decade it has shown significant improvement, even throughout the world financial recession
the GDP growth become superb. Right now, it's far considered one of the quickest-developing
major economies within the international with a GDP growth rate of over 7.1%. It also was given
the eye and attention as one of the leading frontier marketplaces for global buyers. In 2016, the
IMF said that it was the 2d fastest growing important economy in the international.

E commerce sector in Bangladesh

Despite being a under developed country, selected segments of the Bangladeshi business
Community have embraced technology with reasonable success. Personal computers and the
Internet are also emerging as day-to-day business tools. These positive indicators are favoring
the prospects of e- commerce in Bangladesh. The most common sectors are: RMG Sector,
Banking on the Web (Online Banking), Online Shopping, Web Hosting, Domain, Online cards,
gifts, pay bill, Education etc.

Fame work of E -commerce

People and byer: I think Buyer personas are fictional avatars of your ideal customers.
They’re centralized documents that describe your clients’ desires, alternatives, motivations, and
pretty much something else we realize. The client personas we create will influence our website
content, advertising campaigns, and even our products. B2B e-commerce refers to all digital
transactions of goods and sales that are performed between two corporations. This sort of e-
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commerce typically explains the relation between the producers of a product and the wholesalers
who market it the product for buy to clients Sometimes this lets in wholesalers to stay advance
in their opposition. Perhaps the most not unusual form of e-commerce, B2C e-trade offers with
electronic commercial enterprise relationships between businesses and customers. When a
business sells its products or services to the government using computer community, it falls into
B2G (Business to Government) e commerce class and the vice versa is G2B (Government to
Business). This version is the pathway to create e-government. Bangladesh with advent of
tendering and digital statistics services started out its journey for virtual governance system.

Seller: An e-commerce seller is an individual, who exchanges any products/goods or

service or return for e payment or online. In the financial markets, a seller is a person or entity
who is offering security they hold to be purchased by someone else There have some different
kinds of the seller in e-commerce such as:

1 Retail: The sale of a product with the aid of a business at once to a consumer without any
middleman. In Bangladesh, most of the retail businesses are using Facebook, Instagram,
YouTube, etc.
2 Wholesale: The sale of products in bulk, frequently to a retailer that then sells the directly
to consumers Some of the websites there are doing is a business on the internet, like Daraz, in
Bangladesh don’t have any good B2B sector online.

3 Drop shipping: The sale of a product, which is manufactured and shipped to the
consumer by a 3rd party. Some are doing this business also. And they are finding lots of sellers
here.
4 Services: A skill or set of competencies supplied in change for repayment. The service
provider’s time can be purchased for a fee.in Bangladesh, this is a famous sector online.
Management: If I make a successful eCommerce then I need to website a professional
team to keep it running smoothly, keep it fresh with new graphics, add features that become
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necessary and upgrade running smoothly, keep it fresh with new graphics, add features that
become necessary and upgrade industry give us an edge when it comes to managing large e-
commerce systems. There are several factors that contribute to the success of an e-commerce
site, the product offering set aside it’s the technology, speed of access, usability, and the security
infrastructure that drives sales. Some of our e-commerce management services include: -
 Importing new products, categories, brands, and suppliers.

 Programming new features as needed.

 Creating and good posting of advertisements and promotional banners.

 Oversight of hosting infrastructure.

 Regular security checks and PCI conformity.

 SEO upgrades as needed.

 Social Media marketing plans.

Public Policy
Taxes: The developing trend of online buying has brought a myriad of recent business
Enterprise opportunities to enthusiast young. Online enterprise or electric commerce has
improved in Bangladesh at a high-quality rate and its miles predicted that the quantity of e-
commerce will pass Tk 8,000 crores by using 2020 as the government is supplying policy help
and improving facilities in this regard. Moreover, a large younger populace and excessive charge
of net penetration have made Bangladesh a capacity marketplace for global e-commerce giants in
the latest years. Considering this, it is able to be stated that the e-trade zone may be one in every
of the most important tax-collecting areas. But unluckily, the government concerned have now
not been able to establish any infrastructure device to acquire sales from the net commercial
enterprise zone.
A striking feature of this year’s budget is the proposed 7.5% VAT on online businesses.
Amidst growing popularity of online shopping, a 7.5% VAT has been imposed to help the
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government meet its revenue targets. Last year, a 5% VAT was imposed on e-commerce but was
later dropped on the grounds that it was a printing mistake Additionally; e-commerce employs a
giant range of younger human beings. The imposition of the 7.5 percentage VAT on the world
will adversely have an effect on the employment of these young people.
Legal privacy issues:
In Bangladesh most of the e commerce depends on social media, like Facebook
Instagram, YouTube. And website. if anyone cheat or break the privacy issue with customer
then customer can claim the police station, police are do legal action.
Regulations:
 Credit and guarantee;

 Financial funds

 Return of products or non-delivery products.

 Quality of products.

Technical standards: Before we go for frameworks, choosing the right technical

specifications are must- have requirements for developing an eCommerce sector:

 Database model / patten

 Security at the core

 High performance

 Reduced HTTP requests

 Content delivery network

 Website caching

 Server caching
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Market and Advertisement

Online advertising and marketing have won a reputation fast. It now attracts a more
Component advertising dollar than any other media kind, together with TV, Radio, Print, and
others. For business to live beforehand, or possibly even stay in the game, entrepreneurs need to
have a powerful online advertising approach. Online marketing affords a new pressure of
attracting extra first-class sales leads, growing enterprise sales, improving commercial enterprise
profitability, enhancing enterprise sustainability within the aggressive global market

Market Research Online market research can be interpreted in 3 difference ways. Such as
 Internet as a object of research.

 Internet as a medium of research.

 Internet as a method of research.

Similar to market research, online market research falls into primary and secondary
research as properly. Secondary does now not build on its very own statistics, it falls lower back
to pre-existing records on the internet. Such as, search engines, databases, or records websites
Primary research alternatively builds its own information. Some, professional for online
marketplace studies and writer, varies concerning number one in reactive and non-reactive
methods. Reactive methods inside the context of online market studies are online surveys, online
observations, and online focus organizations. Online case research and on-line panels belong to
non-reactive techniques.

Targeted marketing: Target audience online buying. Target audience: Online buying is in
particular used by older people who are operating as they have a credit score card from which
they could pay for his or her items. A goal marketplace refers to a set of ability customers to
whom a company wants to sell its services and products. This institution also includes specific
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customers to whom an agency directs its advertising and marketing efforts. A target market is
one part of the whole marketplace for a very good or service.

Payments: The boom of e-commerce is dependent among other elements, on the life of
secure consumer-pleasant, and value-effective payment systems. The significance of payment
function lies within the reality that it is able to inspire convergence among sectors with disparate
targets seeing that payment systems are the common denominator of all e-commerce transactions
The following criteria must be present in our online payment system to have trustworthy E
cxommerce industry in Bangladesh.

Acceptability Payment instrument needs to be widely accepted.

Anonymity Identity of the customer must be protected
Efficiency Cost per transaction should be as minimum as possible
Security Financial transactions must be secure along with identity and other
information
Reliability System must be fault free
Scalability Infrastructure should not breakdown if new customers and merchants
(businesses) join

To encourage consumers to pay online, the coverage may be made so that once
purchasers pay to traders on the web, the fund can be held within the service merchants’ account.
If the consumer does not receive the product in the promised time or unearths any fault on the
time of shipping, he/she will be able to comfortably compline and get l back money from the
keeping account. In that manner, consumers will feel more secure paying online. Here is some
Bangladeshi e- commerce website payment systems.

Bangla mart. Muktobazar.com Ajkerdeal.com Daraz.com

Com
Cash on delivery Cash on delivery BEKASH BEKASH
BEKASH BEKASH NOGOD Visa /master
card
DBBL DBBL/ BRAC DBBL/ bank Bank /DBBL
bank
Debit /credit Debit /credit Cash on delivery Debit/credit card
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card card

Security system: Security is a vital part of any transaction that takes place over the net.
Customers will lose his/her faith in e-business if its safety is compromised. Following are the
crucial requirements for safe e-payments/transactions –
 Confidentiality − Information must no longer be handy to an unauthorized individual. It
should not be intercepted during the transmission.
 Integrity − Information need not be available all through its transmission over the
network.
 Availability − Information needs to be had anyplace and, on every occasion, required
within a time restrict precisely.
 Authenticity − There ought to be a mechanism to authenticate a person before giving
him/her access to the desired information.
 Non-Reputability − It is the protection against the denial of order or denial of payment.
Once a sender sends a message; the sender should no longer be capable of deny sending the
message. Similarly, the recipient of the message must no longer be able to deny the receipt.
 Encryption − Information should be encrypted and decrypted only through an authorized
user.
 Auditability − Data must be recorded in this kind of manner that it is able to be audited
for integrity necessities.

Business partnership: E-commerce is actually one of Bangladesh’s fastest-growing fields

and trends. There have lots of e-commerce companies that have started operating in Bangladesh
since 2015. But all of are they only operate for Dhaka city and few businesses have only started
in their city. This is a good sign and e- commerce will certainly expand in days to come. Many
people come to CLP with their inquiry if they need a trade license / or a PLC for their
Bangladesh e-commerce business. And the answer is normally “yes.” In Bangladesh, every
business is required to have a trade license, and eventually, you might opt for establishing your
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own PLC for our e-commerce business! As the look at suggests, Bangladesh is coming into its
own period of demographic dividend, that means that the percentage of young people in next 25
years will be the very best inside the history of country. And this is a golden possibility for
Bangladesh to tap into the promise of e-commerce by way of building a possible e-commerce
surroundings to be able to rework the country’s economic landscape.
Conclusion
The potential size of Bangladeshi e-commerce market and promising sign of
development in its ecosystem has resulted in some impressive valuations for some of the
country’s burgeoning e- commerce. There has been much debate about whether these valuations
are part of an overly optimistic „bubble‟, or if they are relatively conservative. Despite being a
poor country, selected segments of the Bangladeshi business community have embraced
technology with reasonable success. The facsimile in the 1980‟s and mobile telephones in the
1990‟s popularized modern technology in the mass market Personal computers and the
Internet are also emerging as day-to-day business tools. These positive indicators are favoring
the prospects of e-commerce in Bangladesh. Synergy between telecommunications and
information technology have the proven capability of monitoring and administering the real-time
transactions. Therefore, liberalizing the telecom and Information Technology (IT) sectors as well
as reforming the country’s financial and commercial procedures is the preconditions of
successfully implementing e-commerce in Bangladesh. In the case of marketing, simply having a
website in the vast sea of the Internet is not sufficient. Uniformity is an important factor in the
commencing of contracts through the Internet. Therefore, to take advantage of the newer
opportunities that IT development presents, the Bangladeshi companies have to attain
internationally accepted certification on quality control, competitive price and timely delivery.
Creating awareness among the Bangladeshi exporters regarding ecommerce is essential.

Reference

file:///C:/Users/INFINITY/Downloads/E_Commerce_in_Bangladesh.pdf
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https://www.nordeatrade.com/en/explore-new-market/bangladesh/e-commerce
https://www.tutorialspoint.com/e_commerce/e_commerce_tutorial.pdf
https://www.privacyshield.gov/article?id=Bangladesh-ECommerce#:~:text=The
%20eCommerce%20Association%20of%20Bangladesh,many%20businesses%20forgo
%20creating%20websites.
https://www.newagebd.net/article/114200/the-growth-of-e-commerce-during-the-pandemic-in-
bangladesh
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