Question

Q94

Discuss ‘The Emerging Role of Electronic Marketplaces on the Internet’. [4 Marks]

Answer 1

Discuss ‘The Emerging Role of Electronic Marketplaces on the Internet’

INTRODUCTION:

Internet plays an important in transforming information and improve economy. The improved technology developed and bring lot of changes in the market and creates more space for buyers and sellers. It plays a crucial role in economy, facilitating the exchange of information, goods and services and other kinds of electronic payments. There are so many changes because of the internet that creates a strong relationship among various organizations that carries their business and daily activities through it. Its saves lot of time and do transactions with a fraction of seconds without any further delays. The clear and consistent performance of market and transparency in doing business has brought huge demand for electronic market places.

There are so many small, medium and large businesses are building trust and generating lot of income through which economic value for buyers, sellers and market intermediates and changes in the society.

The electronic market places on the internet brings transparency between communities and sharing experiences and helps in providing the immediate solutions and improvements through various feedback is considered as one of the major step. Through which each and every individual is connected and discus cussed at the platform. The platform gives more opportunities and supports the new entrepreneurs to start their business. New ideas and improved business activities are shared and carried between individual for better marketing.

In previous days were internet is not that much developed is very hard to find the buyers and sellers in the market. It’s very tough to get the labour and hard to find the professionals and faith to believe the genuine market buyers and sellers are very difficult. Payments are delayed and transactions become very hard to carry. There are so many issues through which most of the businesses are in loss and most of the entrepreneurs are failed to get success in the market. New business people are afraid to enter the market for so many reason and they don’t find the proper information about goods and services that has demand in the market. Failed to find products that has demand in the market and services are not up to the mark. Now the electronic market place on internet brings lot of changes lets discuss the emerging role of electronic market places on the internet.

EMERGING ROLE OF ELECTRONIC MARKETPLACES ON THE INTERNET:

1. Through electronic market places bring information about buyers and sellers
2. Brings trust and builds good relations between consumers and organizations
3. Matching buyers and sellers through which demand and supply is identified easily to carry services and gives information’s about products that has huge demand.
4. Products information is provided to buyers and sellers
5. Feedback and support are carried easily
6. Information’s related new products and services in the market and its price mentioned
7. Logistics related information’s are shared with buyers and sellers.
8. Money transactions become very easy and maintaining transparency
9. Customer ratings and reviews helps the markets to build best products and services
10. Legal information and laws are being shared with all the market holders for better business transactions.
11. The trust and transparency and brand value are displayed through which every consumer will have information related products.
12. Attracting customers through various offers and credit system brings huge demand for goods and services in the market.
13. The emerging of online business system developed through electronic market places on the internet