25-08-2017, 09:32 PM
ONLINE AUCTION
ONLINE AUCTION.pptx (Size: 93.09 KB / Downloads: 51)
PROJECT IDEA:
The online auction business model is one in which participants bid for products and services over the internet.
When one thinks of online auctions they typically think of eBay, the world's largest online auction site.
In this auction site , we creates marketplace for indivisuals and businesses who wants to auction off goods and services.
In this auction site, we use ENGLISH AUCTION METHOD.
ENGLISH AUCTION METHOD- The initial price starts low and is bid up by successive bidders.
MAIN IDEA OF THE PROJECT- We are not actually sell goods that it owns itself. We merely facilitates the process of listing and displaying goods, bidding on items, and paying for them.
Categories for auctioning of products:
Home appliances
Mobiles
Electronics accessories
Bunglows and plots
Books
Paintings ,etc.
STRENGTH OF OUR AUCTION SITE :
No Time Constraint
No Geographical Constraint
Intensity of Social Interactions
Large number of bidders.
Large number of sellers.
Captures Consumers' Surplus- area above the market price line but below the firm's demand curve.