Proper Marketing Strategies

Introduction

This report evaluates many different aspects of starting an e-commerce business, more specifically, an e-auction website. In order to begin developing on this idea, research on other specialist e-auction websites had to be the first step. Carefully selecting a niche market area that suites certain required criteria had to be taken into consideration when making the decision. Proper marketing strategies and business models were analyzed during the process to ensure a stable and viable market for the products can be maintained over a short and long term basis. A name for the website was chosen, the name is appropriate to the business and the products offered on the site. This report includes information concerning payment methods and concludes with countermeasures to various fraud and internet security threats faced in a online business today. Completing the understanding of this report will show evidence of a thorough investigative report.

Internet Research

In this first section of this report, I will take the honor in presenting to you helpful information about developments that help in creating and maintaining online specialist auctions. In addition to doing this we will also focus on payment methods used and the preferred method, we will most likely be adopting.

Website

http://www.langtons.com.au/Home/default.aspx

This website auctions wines from all over the world but is based in Australia. In order to buy on the site you must create a membership online account. The seller also has an account where information can be obtained about the products they auction through the site.

Figure 1.1

Payment Plan

A reserve price is held on the product to ensure it does not sell below market value. A seller’s commission based on the quality of wine is paid only when the wine is sold.

Website

http://www.artelino.com/

This auction site offers Japanese art from all periods. Online registration must take place before being eligible to take part in the auctions, registering includes disclosing your credit card information.

Figure 1.2

Payment Plan

There is a buyer’s commission valued at 20% of the hammered price. They accept credit card payments in either U.S. currency or EURO.

Website

http://www.kickoff3pm.com/footballauction/index.php

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