Internet based business can be considered as that where an organization do different business activities without creating or having the office in a physical form and the need of purchasing or maintaining the office equipment or tools are not required. In an internet based business an organization have their website that contains the detailed information about their core business activities. Details may be consisting their products and services, branches locations and their contact numbers, it’s CEO or founder name with their industry experience etc.
In Internet based business, the business processes works on certain communications devices or the technologies which is helpful to set up the communication with the clients/customers or vendors. It can be called as web based business and can be operated from any place. It works on the framework of business-to-business, business-to-customer, consumer-to-consumer. The term business-to-business and business-to-consumer refers to that activity of a business where the company provides support on their available products and services, so that the customers can make a proper decision before purchasing or ordering for a product. And in consumer-to-consumer framework the exchange of the information takes place between consumers. Consumer may share the ideas or views about a particular product, its quality, features, positive or negative things etc. They can also exchange the product to each other by looking at required product’s specifications & functionality.
Advantages of Using Internet for Business
- Doing a business with the help of internet is much cost saving method. Dealing with operational activities of a business with the internet helps us to bring down the cost. Because in internet business we need not to have a physical structure of an office for dealing with the different activities. Whatever the work you are involved in can be managed from anywhere. It can be your home, a cafeteria, an open ground, etc.
- As it is clear that operating a business with internet allow us to save more money. So to provide more benefit to the user we can turn those savings of money by investing on enhancing the quality of our product and services. So that more number of consumers will attract towards our products.
- Doing the marketing of a business with internet is much more affordable in comparison of traditional marketing. In internet marketing we need not hire a marketing person for doing the marketing of our business. And the training process will not be needed which consumes much time to bring the practicality into business process.
- With internet, marketing becomes easy to attract the consumers about our products and services. It works very effectively and target more number of consumers. The consumer can have the real experience of a product. And can make better decisions about a product or service by discussing with other consumers through internet. The customers can share the experience of using a product with other customers.
- Internet businesses reduce the documentation work and allow a business unit to maintain different records in a systematic manner, where the chance of occurring errors gets minimized.