E-Bay Products

E-Bay Products

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E-bay is an e-commerce company that allows people to conduct the selling and buying of products via the internet, its prime headquarters is found in California this particular website is free for the buyers but this is not the case with the sellers. E-bay, was founded in the mid-1990 and its main objective in the world of business, was to connect buyers and sellers. Therefore E-bay can be described as an auction center that is the company gives room for the sale of merchandise between the involved third party buyers and the sellers. Willing buyers have the opportunity to visit this particular website and they search for the goods they want to purchase. The buyers are able to search for the items that interest them from a vast collection of different products that belong to individual sellers. After searching for the products of interest the buyers then bid on the items they want to purchase through their specific auctions.

 With this type of auction, this company is able to give a wholesale pricing strategy. In most of the situations, the potential buyers have the chance to make a bid for a given period of time, the buyer who makes the highest bid at the end of the given duration, automatically gets the product instantly. E-bay has an integrated feature that gives an opportunity to the buyer to buy that particular product immediately. E-bay depends on the sellers to display their various products on this site and thus it can be said that this company invites sellers to participate in an auction forum and in return this company provides a platform to the buyers where they can make auctions. This is done through the various E-bay stores or through their website. However, sellers using this platform are required to pay an insertion payment for displaying their products on this website, in addition, a 10% sales price back is required by this company after every successful transaction.

In order to effectively deal with E-bay a seller is required to be fully aware of the products he or she wants to sell. If the seller is well conversant with what he or she is selling, the seller will be at a good position hen setting the price of that item. This knowledgeable description about one’s product is a great marketing strategy for sellers on E-bay. Sellers can also add their own image or a sound recording of themselves and post this with their product. This way the sellers can be in a good position to boost their sales on E-bay. Sellers can also boost their sales through the establishment of honest dealings. A small description of them may also come along as this may help to create honest dealings.  When dealing with E-bay the use of great and descriptive headlines can help to boost the image of the seller and help to create interest amongst the different potential buyers however the seller should try to avoid exaggeration in order to avoid a situation where the customer will be dissatisfied. The seller should also request for feedback from the buyer after a successful business transaction. Posting of the positive comments by the seller may have an added advantage to that particular seller; this is due to the fact that most buyers will be willing to buy from him or her. Other sellers when dealing with E-bay, use sales auction management service which is available online, the use of this service greatly help in the management of sales due to the fact that this service allows the tracking of sales and the payments that are made. In addition, this service allows the seller to receive e-mail notifications after a buyer makes the required payments. However these services are not free but on the other hand, they are worth spending money on them.

When dealing with E-bay the sellers are recommended to be specific on their items of sale rather than trying to sell off everything that they have. When a seller specializes in specific items there exist high chances that their products will be bought.  Lastly, there are sellers who regularly put discounts on their items of sale this is due to the fact that low prices are at a potential of bringing more profit. Most of the items that sellers are comfortable giving discounts include; electronics, computers, clothes and stationeries (Qin, 2009). 

Sellers in E-bay are able to know the delivery day before they sell their product. This is because once a buyer or various buyers bid for a specific good they are able to list the period of time they are willing to put on that bid before it can get bought. Through this, the seller can be able to plan for the delivery of the product to the buyer. The time of arrival of the product is mainly motivated by the shipping medium selected by the buyer. The sellers are in a position to ship the products on the same day the buyer purchases the product as long as the buyer pays and the seller receives the payment report (Belbin, 2005). 

For any potential entrepreneurs selling on E-bay can be a good method of creating an income generating business. Thus one can use E-bay to create and expand his or her own business venture. This success can be attributed to a large number of people who visit the E-bay website each day.  It is estimated that around 95 million people transact their businesses on E-bay and they tend to spend about $890 per every single second.  It is also estimated that there are more than 2 million products that are added each day to E-bay, on top of this 10million bids are placed on these products. 

This clearly shows that E-bay is a good platform for entrepreneurs to start their businesses. A specific example is a certain company that was able to raise about $5 million per year as their profit from E-bay. This company ended up closing all its retail shops to venture on full-time e-commerce through the E-bay platform this company was particularly selling pool tables. In conclusion, potential entrepreneurs willing to invest and conduct their business should know that  for one to have a good business at the E    -bay forum he or she must be dedicated  and must work hard in order to try and maintain their business. Also, they should know that running that particular business requires the same capacity to be implemented as the one that can be implemented in the normal business structure. This is due to the fact that decisions being made are equal to the decisions made in any other business setting.

One of the major obstacles that can hinder an individual from being fully successful at E-bay is the fact that at this company there is a lot of competition for buyers. This aspect can be supported by the fact that most of the sellers sell identical products and due to this the prices tend to change periodically. This change of prices in a free market like E-bay can cause frustrations. However before engaging such a business, one should gather enough information to assist in deciding the type of business that can be set up on this platform (Russell, & Peragine, 2010). 

References

Belbin, D. (2005). The eBay book : essential tips for buying and selling on eBay.co.uk. Petersfield: Harriman House.

Qin, Z. (2009). Introduction to e-commerce. Berlin London: Springer.

EBay income : how anyone of any age, location, and/or background can build a highly profitable online business with eBay. Ocala, Fla: Atlantic Pub. Group.

Schniederjans, M. & Cao, Q. (2002). E-Commerce operations management. Singapore River Edge, N.J: World Scientific.