E-Business Experiences with Online Auctions

TL;DR

This paper discusses the significance of online auctions in e-business, highlighting their benefits, challenges, and strategic implications for suppliers in internet marketplaces.

Contribution

It provides an overview of online auction benefits, issues, and strategic actions for suppliers, emphasizing their role in evolving internet marketplaces.

Findings

Online auctions significantly impact pricing strategies.

Challenges include market volume and operational issues.

Strategic actions can improve supplier positioning.

Abstract

Online auctions are among the most influential e-business applications. Their impact on trading for businesses, as well as consumers, is both remarkable and inevitable. There have been considerable efforts in setting up market places, but, with respects to market volume, online trading is still in its early stages. This chapter discusses the benefits of the concept of Internet marketplaces, with the highest impact on pricing strategies, namely, the conduction of online business auctions. We discuss their benefits, problems and possible solutions. In addition, we sketch actions for suppliers to achieve a better strategic position in the upcoming Internet market places.