What does the term "e-commerce" refer to?

The term "e-commerce" specifically refers to the buying and selling of goods and services over the Internet. It encompasses a wide range of online business activities, including retail sales, electronic payments, online auctions, and internet banking. The fundamental aspect of e-commerce is that transactions occur electronically, allowing consumers to purchase products or services from a variety of sources without the constraints of physical locations.

The other options, while related to aspects of online business, do not capture the full essence of e-commerce itself. Marketing strategies for online brands emphasize promoting products or services rather than the actual transactions. Developing a business plan focuses on outlining the strategy for running a business but does not involve direct sales. Similarly, online customer service management concerns the support provided after a sale has been made rather than the sale process itself. Thus, the distinction of e-commerce as the act of buying and selling online makes this option the most accurate representation of the term.