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702 question 2 ebay.docx

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Ryerson University
MKT 702
John Peco

2 Ebay has succeeded as an online market place because it allows buyers to be in control of the marketplace Buyers can look for items they desire and then bid on them This can create a thrill or experience of the old school auction from the comfort of your own home or any mobile device It is also a customizable platform for sellers to sell any product they want Sellers can even have their own ebay stores that have features that allow them to distinguish themselves from sellers with similar products Both sellers and buyers build up profiles with feedback scores and ratings This establishes who you can give trust in much like established brands and credit scores do in the marketplace Ebay also owns electronic payment transfer company Paypal which creates a safe and secure payment tool Ebay is also very user friendly The understanding of how to use it and how auctions run is very explicit due to its position as a leader in the online auction industry Sign up on Ebay for buyers is also free as well as purchase of winning auctions Only sellers must give a portion of their sale to Ebay as a platform fee Quibids strategy is to charge people too bid In order to bid on qui bids you must purchase bids They od this to lower the numb
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