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Complete 7 pages APA formatted article: Internet Information Systems Management.
Complete 7 pages APA formatted article: Internet Information Systems Management. Auctions work more like a liassez fare system, where the right price is decided by the market rather than by the producer.
Most of the B2B auction sites are specific product sellers. Typically, plastic waste auctions keep selling plastic waste to the same buyers. Since they address the other businesses, they keep coming back to them as their purchases are not an one time occurrence.
In case of B2C auctions, the end user is buying and most often his purchases are once through. A buyer who buys a camera may not come back again to buy the same camera again. Repeat visits for the same product may not happen again. This means that B2C auction sites should be more broad based and should have wider product range to sell so that people would keep visiting them.
Since Businesses are aware of the price ranges in the market. For instance, the copper auction site, every participant is aware of the London Metal Exchange price and quotes around that price to close the deal.
Quality is not monitored by the site and on more than one occasion, do not own up responsibility for the quality of the product. Quality conscious persons do not visit the site unless otherwise they are very sure of the product they are buying.
It is pretty clear from the above, that the B2C sites need to be wide based to be successful and should offer products at really attractive price levels. Quality of the product should not be a concern for these buyers. While in case of B2B auction sites, the chances of having stable business seems high. There could be repeat business due to the inherent advantage of presenting the same product, at the same quality for a competitive price being there. Both the sites of course, have the advantage of connecting up online for a requirement, compared to the brick and mortar business where traveling and associated expense and hardships are involved.
2.0 Internet - a commercial medium
2.1 What if World Wide Web is not there
Many times, it is said, if you have not done it, some body else would have. If the product is badly needed, it will any way get invented. If it is not Tim Berners-Lee, it would have been some one else who would have brought in the same phenomenon. May be, they might not have called it world wide web. Therefore, let us take a look at what prompted this invention. Rather than asking what if, may be, we should have said, why World Wide Web. Looking closer at the reason, we find the following points:
a) There was an acute need to do faster transactions, whether it be business or personal.
