Question

1. Why are e-markets more efficient than traditional markets?
2. What are the main functions of traditional and e-markets and explain them briefly.
3. An e-market can either be biased or unbiased. A biased market can be biased towards either the buyers or the sellers. Explain the differences.
4. What are the disadvantages of a biased market?
5. Give an example of how disadvantages you mentioned in the former question have an effect on the probability of success of an e-market place.
6. Which three factors contribute to the success of e-markets? Give one example for each factor.
7. What products are most likely to be trades successfully through an e-market place: commodities or specialty goods. Explain why and give one example of both types of goods.
8. Explain how the element of trust has changed in an e-market perspective compared to a traditional market? Use the following terms in your answer:

• 1. Quality of information
  2. Information security
  3. Geographic location
  4. Partnerships

Answer 1

Benefits of olden days selling

You can simply reach your target native audience. as an example, a radio ad would possibly play in one location: your town or region. Or mailbox flyers can visit households in an exceedingly choose range of suburbs.

The materials will be unbroken. The audience will have a tough copy of materials of that they will browse or flick through over and once again.

It's easy to grasp. It will be simply understood by the general public as a result of they're already exposed to the current quite strategy.

The draw back to ancient selling

There is little interaction between the medium used and also the customers. it's a lot of of providing data to the general public that the complete exists with the hope of those individuals condescending the complete.

Print or radio advertisements will be terribly pricey. Printing materials will be overpriced and you would like to rent individuals to distribute these.

Results on this selling strategy cannot simply be measured. Was the campaign successful?

Benefits of Digital selling

You can target a neighborhood audience, however additionally a global one. Further, you'll be able to adapt a campaign to specific audience demographics, like gender, location, age and interests. this implies your campaign are going to be simpler.

Your audience will opt for however they require to receive your content. whereas one person likes to browse a web log post, another person likes to observe a YouTube video. ancient selling does not provide the audience a alternative. Most people hate receiving sales flyers in their mailbox or phone calls at inconvenient times on stuff that they have little interest in. Online citizens find the option to opt in or out of connections and often it is related because they were the ones searching for it in the first place.

Digital promoting is cost-effective. tho' some invest on paid ads online; but, the value continues to be cheaper compared to ancient promoting.

Data and results square measure simply recorded. With Google Analytics and therefore the insights tools offered by most social media channels, you'll check on your campaigns at any time. not like ancient promoting strategies, you'll see in real time what's or isn't operating for your business on-line and you'll adapt terribly quickly to enhance your results.

Level playing field:

Any business can compete with any competitor regardless of size with a solid selling plan. Traditionally a smaller retail merchant would struggle to match the diplomacy of the fixtures and fittings of its larger competitors. Online, a crisp well thought out website with a swish client journey and fantastic service is king – not size.

Real time results:

you don’t have to be compelled to wait weeks for a lift to your business such as you would have to be compelled to anticipating a fax or type to be came. you'll be able to see the numbers of holiday makers to your web site and its subscribers increase, peak commerce times, conversion rates and far a lot of at the bit of a button.

Brand Development:

A well maintained web site with quality content targeting the wants and adding worth to your target market will offer vital worth and lead generation opportunities. a similar are often aforesaid for utilising social media channels and individualized email promoting.

Conclusion:

Our ancient selling ways support our digital selling efforts. the 2 don't operate in exclusion from one another. however we tend to solely use text selling materials to additional strengthen a relationship with a contact, referral partner or consumer. we do not invest in tv or radio ads, as an example, but we tend to ar planning to offer brochures to someone World Health Organization is interested in our services.

Rather than taking Associate in Nursing all or nothing approach, it appears that a multi-channel approach that leverages the distinctive benefits of paper with the convenience and accessibility of digital will perform best.