1 ONLINE AUCTIONS Topic 7. 2 Consumer power is changing the way the world shops – Search Product information Price comparison Online auctions offer an.

Slides:

Advertisements

Similar presentations

E-Marketing Chapter 8, p Trine & Maiken

Advertisements

Price Chapter Ten. Copyright © Houghton Mifflin Company. All rights reserved.10–2 Chapter Ten Learning Objectives To identify factors that affect how.

5.9 Describe the functions of pricing in markets.

An Auctioning Reputation System Based on Anomaly Detection Shai Rubin, Mihai Christodorescu Vinod Ganapathy, Jonathon T. Giffin, Louis Kruger, Hao Wang,

Chapter 13 Internet Retailing “A salesman is got to dream, boy. It comes with the territory.” ~Arthur Miller.

Analyzing Business Markets

Eleventh Edition 1 Introduction to Information Systems Essentials for the Internetworked E-Business Enterprise Irwin/McGraw-Hill Copyright © 2002, The.

E-Commerce in Business

ELC 498 DAY 4 Capturing Value: Market Structure and Competition.

Chapter 11 Objectives  After reading Chapter 11, you will be able to:  Identify the main fixed and dynamic pricing strategies used for selling online.

E-commerce Business Models

Course Wrap-up. What is IO? Study of how firms behave in markets Key role of strategic interaction Tools: – Neoclassical comparative static analysis e.g.

CS522: Algorithmic and Economic Aspects of the Internet Instructors: Nicole Immorlica Mohammad Mahdian

ELC 498 DAY 3 Creating value: Economics of Internet-based Commerce.

Chapter 6 Web Auctions, Virtual Communities, and Web Portals.

1 Pertemuan 4 Understanding e-Marketplaces Matakuliah: J0324 / Sistem e-Bisnis Tahun: 2005 Versi: 02/02.

1 Chapter 9 Electronic Commerce and Electronic Business.

Chapter 2, e-Business Models

HED 460 Taxation 3-year moratorium imposed in 1998 ended Oct. 21 Congress plans to pass an extension by year’s end.

©2003 Prentice Hall, Inc.To accompany A Framework for Marketing Management, 2 nd Edition Slide 0 in Chapter 1 Marketing Defined  Marketing is a process.

1 Teck-Hua Ho April 13, 2006 Auction Principles I. Economic and Behavioral Foundations of Pricing II. Innovative Pricing Concepts and Tools III. Internet.

 2001 Prentice Hall, Inc. All rights reserved. 1 Chapter 2, e-Business Models Outline 2.1Introduction 2.2Storefront Model 2.2.1Shopping-Cart Technology.

Copyright © 2004 by South-Western, a division of Thomson Learning, Inc. All rights reserved. Developed by Cool Pictures and MultiMedia Presentations Copyright.

M&A STRATEGY One of most fundamental motives for M&A is growth. Companies seeking to expand are faced with a choice between internal or organic growth.

1 Senn, Information Technology, 3 rd Edition © 2004 Pearson Prentice Hall James A. Senn’s Information Technology, 3 rd Edition Chapter 9 Electronic Commerce.

What is E-Commerce? This lesson we look at what E-commerce is. Open up Microsoft Word as we will be doing some research during the presentation. Also,

Liquidation.com B2B Marketing Success Story CHAPTER 6: E-COMMERCE MARKETING CONCEPTS Presented by Team A.

E commerce Sri hermawati.

Industrial Economics Fall INFORMATION Basic economic theories: Full (perfect) information In reality, information is limited. Consumers do not know.

Electronic Commerce and Electronic Business Lecture – 12

1 Chapter 8 E-marketing. 2 The definition of marketing is: ‘Marketing is the management process responsible for identifying, anticipating and satisfying.

Providing Digital Connect to Local Store. Brick and mortar retail  Searching for the right store can be major challenge with traffic and parking issues.

Business Strategy Evaluation & Recommendations EVALUATE BUSINESS STRATEGY Internal Assessments Evaluation : Bridge of Business-To-Customer Information.

Computer fundamentals

Information Systems and Management. E-Commerce Properties of the Internet 1.Mediating Technology o Connects parties 2.Universality o Enlarges the world.

Copyright © 2002 Pearson Education, Inc. Slide 13-1 CHAPTER 13 Created by, David Zolzer, Northwestern State University—Louisiana Auctions, Portals, and.

1 CHAPTER 4: ELECTRONIC COMMERCE & ELECTRONIC BUSINESS CHAPTER 4: ELECTRONIC COMMERCE & ELECTRONIC BUSINESS.

9 - 1 Copyright © 2006, The McGraw-Hill Companies, Inc. All rights reserved. Electronic Commerce Systems Chapter 9.

Financed bySupported byImplemented in cooperation with Financed bySupported byImplemented in cooperation with Customer Development and Management.

 As the price of a good or service that producers are willing and able to offer for sale during a certain period of time rises (or falls), the quantity.

HED 460 Pricing Feasible to test new pricing models Traditional price setting is being modernized due to information availability Internet reduces transaction.

1 ONLINE AUCTIONS. 2 Consumer power is changing the way the world shops – Search Product information Price comparison Online auctions offer an alternative.

IMS 6485: Auctions, Portals, & Communities 1 Dr. Lawrence West, MIS Dept., University of Central Florida Topics Common themes Dynamic.

9 - 1 Copyright © 2006, The McGraw-Hill Companies, Inc. All rights reserved. Electronic Commerce Systems Chapter 9.

Electronic Commerce Chapter 11 – Computers: Understanding Technology, 3 rd edition.

Internet Marketing - Poitiers Internet Marketing and Web Design Marketing Stream ESCEM, Poitiers – September 22-26, 2003 Guest Professors: Marty.

Chapter 5 E-business Strategy E-marketing.

E-Marketplaces: Mechanisms, Tools, and Impacts of E-commerce.

Managing Online Auctions Expanded Capability Unit 8-3 Managing the Digital Enterprise Pinker, Seidmann, and Vakrat.

Online Auction b 資管一 JOSEPHINE 周家裕. INTRODUCTION ． NOWADAYS, ONLINE AUCTION IS VERY POPULAR ． THE MOST FAMOUS AND LARGEST ONLINE AUCTION COMPANY.

Lecture 4 Business Model Canvas. THE BUSINESS MODEL CANVAS.

E-Marketplaces: Mechanisms, Tools, and Impacts of E-commerce.

Unit 2, Lesson 6 Supply and Demand and Market Equilibrium

How does a change in money supply affect the economy? Relevant reading: Ch 13 Monetary policy.

E-Business –. What is E-business? E-business (electronic business) is the conducting of business on the Internet, not only buying and selling but also.

The Market Economy. Learning Objectives Define Economics and Economic system Define equilibrium price and equilibrium quantity Explain why the price of.

Copyright 2004 John Wiley & Sons, Inc Information Technology: Strategic Decision Making For Managers Henry C. Lucas Jr. John Wiley & Sons, Inc Dinesh.

Electronic Commerce Chapter 11 – Computers: Understanding Technology, 3 rd edition 1November 17, 2008.

ONLINE SHOPPING. Refers to buying and selling of goods and services using websites accessed through the internet physical goods such as clothes and books.

Pricing Strategy.

Decoding Retail Winning the Omnichannel Consumer Amitabh Mall, 10 February 2016.

E-Commerce Systems Chapter 8 Copyright © 2010 by the McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin.

The Pricing System. Determining Prices: How a competitive market works ► Market Equilibrium (AKA market clearing price)-- the price where the amount sellers.

ELC 200 Day 23. Agenda Questions? Assignment 7 posted  Due Dec 7  ELC 200 assignment 7.pdf ELC 200 assignment 7.pdf Ecommerce Initiative Framework paper.

Management Information Systems MANAGING THE DIGITAL FIRM, 12 TH EDITION E-COMMERCE: DIGITAL MARKETS, DIGITAL GOODS Chapter 10 VIDEO CASES Case 1: M-Commerce:

6-1 Economics: Theory Through Applications. 6-2 This work is licensed under the Creative Commons Attribution-Noncommercial-Share Alike 3.0 Unported License.

Electronic Commerce Chapter 9 – Computers: Understanding Technology.

CUSTOMER IDENTIFIES A NEEDS SEARCH FOR SERVICES OR PRODUCT TO SATISFY THE NEED SELECT A VENDOR & NEGOTIATE THE PRICE RECEIVES THE PRODUCT OR SERVICE MAKE.

E-Business Models Outline 2.1 Introduction 2.2 Storefront Model Shopping-Cart Technology Online Shopping Malls 2.3 Auction Model 2.4 Portal.

E-commerce Business Models

Presentation transcript:

1 ONLINE AUCTIONS Topic 7

2 Consumer power is changing the way the world shops – Search Product information Price comparison Online auctions offer an alternative service

3 Two broad categories of auctions 3 rd party direct – bricks and mortar Particular interest in 3 rd party

4 Other auction sites: Yahoo TaoBaoYahoo TaoBao – 72% of China $1.7 Billion in auctions Stuff.com.au New Zealand Greysonline And the weirdweird

5 Is Price all that matters? Auctions have been around in one form or another forever. Most people think in terms of the highest bidder winning.

6 Early research emphasis on online cost reduction over brand based differentiation (Gilmore 1999)

7 Malhotra et. al. (2002) suggests online shopping purely functional nature in contrast to catalogue shopping which delivers value in terms of customer return on investment and aesthetics

8 ‘The Market for Lemons,’ Quality, uncertainty and the market mechanism (Akerlof 1970) Key issues – trust quality uncertainty skill of the merchant to identify quality Have auctions changed the dynamics of the ‘lemon’

TRUST Auctions all have buyer/seller feedback Useful but not always reliable Need to manage risk VIDEO eBay example

10 Akerlof identified institutions that arise to counteract the effects of quality uncertainty. They include : Guarantees Risk shifting from buyer to seller Brand names Licensing (certification, rating etc)

11 ‘One of the thrills is the bidding process’ (Alterio 2004) Auction buyers may include: Passionate collectors, pragmatic bargain hunters, time savers, or sporting ‘thrill seekers’. So why buy at auction?

12 Price There are a number of facets to an auction but a key facet is price Most people think in terms of the highest bidder winning.

13 Features of price Price fluctuation is the, or the determination of price, is the end result of the interplay of the forces of supply and demand. Price is sometimes historic, but often not clear particularly for new innovative products

14 Features cont. The auction process can in theory leave everyone better off Sometimes price may be fixed (eg Rolling Stones tickets) and people may then auction. An alternative dynamic pricing system for supply/demand is a Dutch auction. Good when shortage of supply

15 Fluidity of pricing Different individuals are often willing to pay more or less for the same product, leading to fluidity of pricing. May benefit seller Reality is that different people pay different prices for the same products all the time. Examples? Even if price stays the same discounting can apply for individuals.

16 Tools and services Seller on-ramp Seller central My eBay Want it now

17 Conclusion The Digitalization of the transaction process and database-driven prices are becoming the norm. Online auctions are yet another example of new business models driven by the digital economy.