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On line auctions rule
The internet has now turned in to a global marketplace in which anyone, anywhere, can buy or sell practically anything. The many Companies have developed a web-based marketplace in which a community of buyers and sellers are brought together to browse, buy and sell various items. Through the PayPal service, on line auction companies enables any business or consumer with e-mail to send and receive online payments securely, conveniently and cost-effectively. The Company's marketplaces exist as an online trading platform that enables a global community of buyers and sellers to interact and trade with one another.
The auction sites are a fully automated, topically arranged, intuitive and easy-to-use online service that are usually available 24 hours a day, seven days a week, enabling sellers to list items for sale in either auction or fixed-price formats, buyers to bid for and/or purchase items of interest and all users, once subscribed and a “site member” are able to browse through listed items from any place in the world at any time. Given this innovative business concept, anyone and everyone is able to both place ads and to purchase from anyone anywhere in the world. However, certain challenges still present themselves to the company’s in both the near and distant future. Demographic features that show concern include population size, age, geographic distribution, ethnic mix, as well as income distribution.
Despite the Internet being available to users around the world, most companies success has been limited to the U.S. region and targeted mainly towards the middle to upper classes. Logically, those with Internet access and items worth selling have a direct correlation with individuals with a computer and money to spend. On line auction customers for the most part do not have a particular ethnic mix, which is evident in its ability to allow access to anyone with a computer, regardless of the ethnicity, race, or religion.
There are other problems for companies selling on line, such as the internet sales being in the forefront of counterfeit, illegal and questionable issues regarding online listings. While on-line publishers are responsible for the content of their sites as an on-line venue, some larger sellers were not according to the Digital Millennium Copyright Act (DMCA) of 1998. People were, however, selling illegal items such as human kidneys, marijuana, counterfeit software, controversial items such as Nazi memorabilia and pornographic material. In addition, certain companies have faced several lawsuits questioning the auction business model where people claimed that the sellers (the company) should take responsibility for the authenticity of items sold on the site. Integrated up-to-date technology as well as partnering with other firms plays a major role in the auctions business strategy.
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