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Explain phases of trade cycle. - Information Technology

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Answer in Brief

Explain phases of trade cycle.

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Solution

A trade cycle is the series of exchanges, between a customer and supplier that take place when a commercial exchange is executed.

A general trade cycle consists of the following phases:

  1. Pre-Sales: It consists of two steps like Search and Negotiates. Customer searches for a required website for products to be purchased. In Negotiate step customer find a supplier who offers a good quality product at a cheaper price and then the customer agrees to the terms forwarded by the supplier.
  2. Execution: This phase consists of Order and Delivery. Customer sends an order for the selected product and after processing the order, customer receives delivery of the product.
  3. Settlement: This phase consists of an Invoice (if any) and Payment. Invoice means customer will receive a bill for the purchased product and after confirmation of received product, customer will pay for the same.
  4. After-Sales: This phase consists of warranty and After-Sale Services. In the warranty period, customers will get all maintenance services for free or at minimum cost. After-sale services mean customers will do complaints (if any) about the performance of product and get maintenance service from the supplier.
Concept: E-Commerce Trade Cycle
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APPEARS IN

Balbharati Information Technology (IT) (Arts) 12th Standard HSC Maharashtra State Board
Chapter 2 E-Commerce and E-Governance
Exercise | Q 6 1. | Page 37
Balbharati Information Technology (IT) (Science) 12th Standard HSC Maharashtra State Board
Chapter 6 E-Commerce and E-Governance
Exercises | Q 6.1 | Page 89
Balbharati Information Technology (IT) (Commerce) 12th Standard HSC Maharashtra State Board
Chapter 4 E-Commerce and E-Governance
Exercise | Q 6.1 | Page 81
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