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The Online Marketplace - Essay Example

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The Online Marketplace

There are hundreds of online marketplaces existing as of this very moment. Each having their unique feat which would attract more shoppers, buyers and even sellers. The most famous shopping sites today are Amazon, Yahoo! Shopping, EBay, and the like.
For one instance, Amazon.com, a huge internet company has this certain Amazon affiliate program wherein site-owners from simple blogs to a complex network of site management, can participate in promoting and advertising the shopping site. In the certain program, the incentives that will be given to the affiliates can receive up to 10% from referral alone (Amazon.com, 2007).
Aside from the famous Amazon site, there is also EBay, Yahoo Shopping and other affiliates wherein online shoppers can purchase all sorts of things from accessories to appliances, all in one big marketplace.
What is good about these online marketplaces is that customers will feel an easier way of shopping and purchasing goods. Also, there is privacy between the seller and the buyer because transactions can happen through private messages. The business-to-business (B2B) electronic commerce (SMU-Cox, 2005) featured in these markets makes it more hunted by prospect buyers and sellers.
Aside from these online markets, the introduction of shopping carts is also a big innovation in the online business world. Shopping carts are virtual representation of a real shopping cart wherein the buyer can place his or her selected items so that after shopping, the purchase and payment method would be easy and systematic. These shopping carts may be installed on the company/ site or may be used through a software in which the shopper can shop from several online stores and marketplaces instead of only purchasing from a single site.
Of all the online shopping places, the most effective and ideal for me would be the EBay site. First of all, EBay is a free shopping site and there are many choices of items for sale since there is no quota in the EBay stores. Also, the feedbacks that the shoppers give to the sellers are a good determinant of the quality of the seller's items. There are also different mode of payments from which the buyers may choose from so the transaction is easy since the buyer can merely deposit, wire transfer, cash to cell phone transfer and other convenient modes of transfer (GoEcart, 2007).
Aside from the efficient services regarding business transactions, another good thing EBay offers are the groups and forums wherein the shoppers can converse with each other and give their views and opinions, form a local network and create friends through "Group Centers" to share their ideas and thoughts. In this certain site, a more meaningful relationship between the buyers and sellers is being promoted and developed.
HOW ONLINE MARKETPLACES SHOULD WORK
As these online markets are only new to the business world, there are still weaknesses and points of concerns which should be addressed. The problem that some sites experience, especially those new in this venture is that the gain they acquire from the business, which they are supposed to use in maintenance and salary expenses, is not that much which ...Show more

Summary

In this world where technology and communication is progressing at a very fast pace, a convenient way by which people transact with each other is not that far from being realizable. Today's manner of transacting businesses via the internet is a manifestation of the technology and advancement that business and trading has and is currently experiencing.
Author : travon07
The Online Marketplace essay example
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