Online Business

An online business is a business that is connected to a computer under a network and is under a computer controlled system. Such business is also called e-business. In 1991, amazon.com was the first to establish such a business. We call online banking a computerized system of making checks from one branch to another or depositing money by building a network between the branches of the bank under the central server. Thus when a trader conducts a business with another trader, a trader with a customer, a customer with a customer through internet connection, it is called online business. Here are some important online businesses:

1. Online Marketing:
Online marketing is the act of selling products, services and information online. In this case, if the producer sells the product directly to the consumer, it is called direct marketing online. In that case the product is delivered at a place convenient to the consumer. This includes selling products online to merchants or retailers.

2. Online Auction:
Organizations that buy large quantities of products together serve information with notifications on their web pages. The suppliers take part in the auction by stating their prices and conditions on the said web page. Then the goods are purchased from them by accepting the request of the best postman.

3. Online Buyers Group:
Larger companies offer lucrative discounts or discounts on large sales. In order to receive such discounts, sellers of similar products can purchase products together by connecting themselves online to purchase products together. These are called online shopper groups.

4. Online shopping:
Purchasing products online from a retailer is called online shopping. Catalogs are given on the website of such organizations. The buyer informs the seller online of the product and quantity he wants to purchase. Such methods of purchasing goods from large department stores are now very popular in the modern world.

5. Online seat reservation:
The internet is now an important way to save seats or rooms in various service providers including hotels, planes, trains. Online seat reservation is the process of booking a room or seat by going to the website of the service provider on the internet. E-ticketing is such an online business.

7. Online Banking:
Online banking is a network system based on computer technology between multiple branches of a single bank or between different branches of multiple banks. In this case, a customer can take advantage of his bank account by visiting any branch of the bank under the network. Such banking has greatly expanded the limited transaction system confined to a particular location.

8. Online financing:
Large corporations offer financial projects to financial institutions by describing new projects on their websites. On the other hand, when investing or investing institutions go ahead with online research and finance, it is called online finance.

9. Online publication:
Publishing magazines, journals, periodicals, books, etc. on the Internet and providing readers with access to the Internet is called online publishing. Online publications or editions of various world-class magazines, including Time magazine, are quite popular with readers.

Online businesses have an online payment system for payment. Electronic Funds Transfer (EFT) assists in this. Online funds can be transferred through home banking.

The importance of online business

The importance of online business from different perspectives is highlighted below:

1. 24 hours service:
The big advantage of online business is that there is no question of opening or closing shops. The network is open 24 hours a day, 7 days a week. So there is no time constraint on ordering, accepting orders, paying prices etc. The delivery of goods can be done at the time of the customer's choice. That means online business has changed the definition of store or store. Now the store (virtual store) on its own website within the net.

2. Cost reduction:
As a result of online business, the cost to both the buyer and the trader has come down a lot. Buying or renting a store in a good location is very expensive. In addition, the cost of running the shop, staff costs, store costs, etc. is not less. It is also a matter of cost for a buyer to come and go in the market or shop. But in online business, shop, order, payment is all done through the net, so the cost is reduced. So in this case the price of the product may be less.

3. Save time:
Time is of the essence in today's busy world. Online business has played an important role in saving this valuable time. Now all the information is available by entering the net. As a result, orders can be placed quickly. Products can be collected. I wanted to eat something special. Appears at the moment of ordering online. In other words, online business-merchants and customers have saved.

4. Easy and fast transaction:
Online businesses run on electronic technology can handle activities very quickly. In your spare time, it is possible to enter the Neto Marketplace by looking at the things you like and order the products immediately. In other words, there is no hassle in receiving information, giving orders, paying prices and receiving products. Online business is now very popular in the developed world as everything is run in a very orderly manner.

5. Extended activities:
Earlier, a customer used to buy goods from the market or shop next to him. There was no opportunity to know and think about the situation elsewhere. Now, if you click on the button, there is no problem to know what is in the world, to order or get. This also applies to a trader. The door to his net or website is open worldwide. The matter of customer near or far is minor. In this way, online business has expanded its business activities a lot.

6. Quick market creation:
Social media; For example, easy promotion facility on Facebook, Twitter, etc., sending thousands of messages to potential customers at the moment, very interesting and easy promotion of one's own products and business in electronic media - fast market. Has created opportunities for power. In this case, since the market is not limited to a specific area or place, it is easier to find a market in an expanded range.

7. Opportunities to establish business connection:
Online business also helps in establishing connections between merchants. If you buy many products together, you can get huge discounts. In the case of online businesses, buyers can come together to place orders and collect products. In the case of travel, tour operators are able to easily connect with other service providers due to such business. In this way online business has also created easy connections between traders.

Online business methods

There are various ways or means of doing business. We already see some ways of doing business online. In general business, just like opening a shop in one's own place, business can be done, but also traveling business can be done by ferry. Postal business was once popular. Online business can also be done on a large or small scale. Here are some tips to help you get started:

1. Own website-centric online business:
When a business is run through its own website, it is called its own website-centric online business. Own website means own virtual shop. In other words, the shop is working 24 hours a day, 7 days a week. It is possible to present such a website to the customers by upgrading it in an attractive way every day in the same way as you can arrange your own shop. Such an online method is very effective in building a sustainable business by establishing your own branding image. To do such online business, you first need to purchase a domain or space from a web organization. This is called domain registration.Then you have to decorate your own website beautifully. This arrangement includes the vision of the organization, the list of products including the mission, the quality of the product, the price, the method of payment, the method of delivery, the terms of purchase, the facilities provided to the customers, etc. The various topics are arranged in such a way that the customer can get information about all the necessary things of the organization by clicking on the button. Promotional work required to popularize such business; For example, you have to take the opportunity of advertisement, promotion etc. That is why the collaboration of e-marketing, Facebook, Twitter and various social media is also accepted.

2. Marketplace-centric online business:
In the Internet world, marketplace refers to a net-based communication point where customers can simultaneously access and view information about various online business organizations on the net and buy their own product from the company of their choice. But in this case, the whole thing depends on the Internet.