Online auctions through WebOnline auctions ar the latest business model utilize internet technology where the interested participants bid for the products and services . In online auction the products are displayed through certain localize instanter by the owner and will be purchased by the emptor dismantling the mediators and commission will be given to the online site provider These revenues and payments are same as the auction domicile (Organisation for Economic Co-operation and Development , 2001Online auction is providing a dynamic price environment where both the suppliers and purchasers are benefited . The main advantages are it creates shared trust , have a transparent process , admission price to global markets etc . As of now forward auctions and reverse auctions are two types of online auctions (Is4profit , 2010History of auction started in 500 B .C in Babylon and online auction stared in 1995 with sellWeb now renowned as eBay .
there was a huge response from the nodes and suppliers and developed it as a big industryToday there are three broad categories of online marketingGeneral customer auction (Customer to customer auction ) or (Customer to business auctionSpecialty customer auctionBusiness to business auctionCustomer to customer auctionOffers are given to attract the raw(a) customers and retain old customers There is a possibility of commencement e-stores with minimum cost . Online marketing narrows down the geographical barriers . even there are failures in the online business industry Auction Universe is a best example . It was closed in August 2000 despite of 10 million sponsorship...If you want to embark on a full essay, order it on our website: Orderessay
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Source: http://essay-introduction-help.blogspot.com/2013/01/e-business-system-exams-questions.html
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