Question

Recognize the importance and nature of online buying in industrial, reseller, and government organizational markets.

Answer 1

The nature and importance of online buying in organisational markets :

• First the online market provides quick and reliable information about the product and its specifications, its availability , price and quality the time within which the product can be delivered. All these information is available in a timely manner through the internet.
• As the World wide Web reaches a large number of people at a single time, it reduces significant expenses on advertising and promotional activities of the organisations. a large number of people are simultaneously reached via internet as the medium.
• The online market place has been continously developing with the launch of the e- market place and online auctions , where customers can place bids for the different products and the highest bidder will be the winner.
• This technology reduces the cost of processing the orders of the buyers in the E- market place.