Topic > How to Buy and Sell on eBay - 2270

Selling Experiment on eBay Essentially, a trade is an activity in which two parties make some exchange of goods or services based on the value agreed upon by both parties. In the past, bartering was the famous method of doing business. Over time, money and currency were discovered, and then barter was no longer popular. Nowadays, as Internet technology has advanced rapidly and reliably, electronic commerce has begun to replace the physical commerce market around the world (Massimib & Phelps, 1994, p.39). This phenomenon has led many companies to change their traditional business model to be more adaptable to the e-commerce environment, from the physical store to the virtual store. A company or seller must not only prove its existence in the real world, but also in online networks. However, there are some differences between the strategy in the traditional market and the online market, eBay as an example. Therefore, this essay will discuss all the critical aspects that need to be considered to start an online business in the online marketplace like eBay. eBay is an online platform that functions as a marketplace. On eBay, people can sell and buy at the same time. Furthermore, there are many variations of items that can be sold and purchased. The way eBay works allows users to build a C2C business model on their platform. They provide features that facilitate users to carry out trading activities. Some powerful features of eBay are secure payment gateway, product list and categories, search engines, bid and buy now method and also user reputation. To test the reliability of eBay from the seller's point of view, an experiment was carried out. The experiment covers how a user sells products on eBay, including the strategy for selling them via... paper medium... mail in email settings. This improvement is to avoid the misunderstanding of the email being read as junk by the email provider. Social Media Integration As we know, social media is growing rapidly nowadays. Therefore, such product listings should be more integrated with social media such as Facebook or Twitter. Better market competition analysis The first sales experiment was the lack of market competition analysis. The seller did not indicate which major competitors are. Therefore, it has led to a lack of confidence in putting the price and you end up selling it for almost 50% less than the expected selling price. Choose the best sales method (auction or buy it now). For the next deal, more consideration should be put into how it will be sold. The first experiment showed that by putting two purchase options, buyers preferred to make an offer rather than buy it immediately.