E-commerce (electronic commerce) is the buying and selling of goods

and services, or the transmitting of funds or data, over an electronic

network, primarily the internet. E-commerce is also known as electronic
commerce or internet commerce. These services provided online
over the internet network. Transaction of money, funds, and data are
also considered as E-commerce.
Online stores like Amazon, Flipkart, Shopify, Myntra, Ebay, Quikr, Olx
are examples of E-commerce websites.
The origin of e-commerce (electronic commerce) can be traced back to the advent
of the internet. Here is a brief overview of key developments in the history of e-
commerce:

1. Early Technologies (1960s-1980s): The concept of electronic commerce can

be traced back to the development of electronic data interchange (EDI) in the
1960s and 1970s. EDI allowed businesses to exchange business documents,
such as purchase orders and invoices, electronically.
2. Emergence of the Internet (1990s): The widespread adoption of the internet
in the 1990s played a crucial role in the evolution of e-commerce. The World
Wide Web (WWW) made it possible for businesses and consumers to connect
online. In 1991, the National Science Foundation lifted the restrictions on the
commercial use of the internet, paving the way for e-commerce.
3. First Online Transactions (1990s): The first secure online transaction is often
credited to the sale of a Sting CD ("Ten Summoner's Tales") by NetMarket in
1994. Shortly after, in 1995, Amazon and eBay were founded. Amazon initially
started as an online bookstore, while eBay facilitated online auctions.
4. Dot-com Boom (Late 1990s): The late 1990s saw the dot-com boom, with
numerous e-commerce startups emerging. While many of these companies
did not survive the subsequent dot-com bust, the period contributed to the
development of e-commerce infrastructure and technologies.
5. Advancements in Payment Systems: The development of secure online
payment systems, such as PayPal (founded in 1998), played a crucial role in
boosting consumer confidence in online transactions. This, in turn, fueled the
growth of e-commerce.
6. Mobile Commerce (2000s-Present): The widespread adoption of
smartphones and mobile devices has further transformed e-commerce.
Mobile commerce, or m-commerce, enables users to make online transactions
using their mobile devices, providing greater convenience and accessibility.
7. E-commerce Platforms and Marketplaces: The rise of e-commerce
platforms like Shopify, Magento, and WooCommerce, as well as online
 marketplaces like Alibaba and Etsy, has made it easier for businesses to set up
and operate online stores.
8. E-commerce Today: E-commerce has become an integral part of the global
economy, with a wide range of products and services being bought and sold
online. The industry continues to evolve with innovations such as augmented
reality shopping experiences, voice commerce, and artificial intelligence-driven
personalization.

The history of e-commerce is marked by continuous technological advancements,

changing consumer behaviors, and the adaptation of businesses to the opportunities
presented by the digital realm.
Customer relationship management is a company-wide business strategy
designed to reduce costs and increase profitability by solidifying customer
loyalty. By understanding and managing customer interactions, businesses can
develop long-term relationships that turn one-time buyers into lifelong, brand-
loyal advocates.

There are four primary principles of CRM:

1. Customer centricity: The customer should be at the center of every

business decision.
2. Data-driven decision-making: All decisions should be based on data
rather than gut feeling.
3. Continuous improvement: There should always be a focus on improving
the customer experience.
4. Omnichannel approach: The customer should have a consistent
experience regardless of their channel (e.g., phone, web, in-person, etc.).

Many different practices fall under the umbrella of CRM, but some of the most
common are customer segmentation, customer profiling, customer journey
mapping, and customer feedback loops.

 Customer segmentation is the process of dividing customers into groups

based on shared characteristics. This helps businesses better understand
their customer base and effectively target marketing efforts.
 Customer profiling is the process of creating detailed profiles of
individual customers. This helps businesses better understand their needs
and how to serve them best.
 Customer journey mapping is understanding the complete customer
experience from start to finish. This helps businesses to identify pain
points and areas for improvement.
 Customer feedback loops are a process for constantly collecting and
acting on customer feedback. This helps businesses to identify and
address problems quickly.

The ultimate goal of CRM is to create long-term relationships with

customers that are built on trust and loyalty. By understanding and
managing customer interactions, businesses can create advocates who will stick
with them through thick and thin. This strategy is not a one-size-fits-all solution,
and the principles and practices will vary from business to business. However,
companies can create a solid foundation for long-term success by keeping the
customer at the center of everything they do.