The History And Background Of Ebay

Published Date: 02 Nov 2017

E-business stands for electronic business. It is an electronic mediates for buying and selling. It is also the use of internet for the sake of business. It allows companies to link their internal and external processes more efficiently and effectively, and work more closely with suppliers and partners to better satisfy the needs and expectations of their customers, leading to improvements in overall business performance. (nb2bc,2012) By selling goods and services online, an e-business is able to reach a large amount of consumer than following the traditional business. The purpose of e-business is referred to as ecommerce, and the expressions are often used interchangeably. (wisegeek,2012)

1.2 There are lots of advantages and disadvantages of e-bay. Among them some of the advantages of consumer adoption of the internet are as follows:

Worldwide presence is the biggest advantage of conducting business online having an international or a worldwide presence. Another important advantage of consumer adoption is Cost-Effective Marketing and Promotions. By using the web to market products guarantees worldwide reach at a nominal price. (buzzle,2012) Developing a Competitive Strategy is also another important advantage of consumer adoption. A business company needs to have a competitive strategy in order to make sure a competitive advantage. Better Customer Service Another advantage is that by providing online payment system, shipping the products companies can give better customer service.

Where there are advantages there are also disadvantages along with them. Some of the disadvantages of consumer adoption of the internet are as follows:

Sector Limitations is one of the main disadvantage of e-business is the lack of growth in some sectors on account of product or sector limitations. (buzzle,2012) Another major disadvantage of consumer adoption is Costly E-business Solutions for Optimization. Companies need to upgrade computer systems, train personnel, and update websites necessary for better internal business

2.1 Conducting e-business is a challenging business. Along with the good side of e-business there are lots of rick and challenges in doing it. Some of the major risk and challenges of conducting international business are as follows:

Systemic Risk is one of the major problems of conducting e-business. Dynamics market or some particular internal area of business can be the factors for systemic risk. Starting a business without studying the current marketing condition can cause systemic risk. Security Risk is another challenge in conducting e-business. (ECommerce-Guide,2012) Security risks come in many ways and can cause a risk to both business and customer information. There are many hackers and viruses looking for personal information. Another major risk is a Business Risk. Competitors are the main threat for the business risk. Competitor with the same product with lover price can take over the product. (ECommerce-Guide,2012)

2.2 To overcome the risks e-bay owners should try assessing the market and plan accordingly for every change in the business cycle. Security risk is also one of the most serious problems for e-bay owners as it greatly affects customer trust on the business. So, they should also use appropriate software that will prevent any unauthorized access and prevent their data. (ECommerce-Guide,2012) Business risk can be overcome if the e-bays have a good service record, sufficient supply and a stocked record. Dynamic market environment and new technology can also affect business growth; so, it is important to stay informed about every-changes.

3.1 Realizing the goal of a perfect marketing where buyers and sellers have all the information’s e-bay have started their business. (eBay Business System,2012) They charge very fewer amounts related to the price of the product they make profit. They have also added the auction forums and "buy it now" option to their site as the features for the costumers. (eBay Business System,2012) They have new items as well as second hand items in sale for fewer prices. By providing second hand items as the product they are making the costumer as well as seller easy, which can cause the increase in the e-bay users. With increasing competition e-bay have adopt various stiff marketing tips that will help the business set separately in the crowd. From these all features we can know that the e-bay have very strong marketing strategy for maximizing their customers.

3.2 Making the strong marketing strategy has a great impact in the business. It determines the profit of the company. So, if I were a marketing officer for the company I would mostly focus on customer's choice and demand because costumers are satisfied when they have more choices and their demand is being fulfilled. Public relation is also important to establish a business. Focusing on costumer’s choice and fulfilling their demand helps to build the relation between costumers and good feedback from them build the relation with public.