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CHAPTER 2: E- Market Places Siti Nur Sarah Binti Sheikh Mujib …
CHAPTER 2: E- Market Places
Siti Nur Sarah Binti Sheikh Mujib
012019021561
TYPE OF E MARKET PLACE
= storefront
= malls
= portals
DEFINITION
What is E-Marketplaces
an online market, usually B2B in which buyers and seller exchange goods or services.
What is Market space
seller and buyers exchange good and services for money (for other goods and services and things but do so electronically).
3 MAIN FUNCTION
matching buyers and seller.
faciliting the exchange of information, good, service and payment associated with market transaction.
providing an institutional infrastructure such as legal and regulatory framework which enable the efficient functioning of the market
MARKET PLACE COMPONENT
customers
products
infrastructure
front end
back end
intermediaries
buyers
A U C T I O N
a competitive process in which seller solicits consecutive bids form buyers ( forward auctions)
buyer solicits bid from seller (backward auctions) price are determined dynamically by the bids.
TYPE OF AUCTION
one buyer,one seller
one seller,many potential buyers
one buyer, many potential sellers
many seller,many buyers
LIMITATION
minimal security
possibility of fraud
limited participation
BENEFIT
auction as a social mechanism to determine price.
EC component in a business model.
a highly visible distribution mechanism.
profit for individual.