eBay is The World's Online Marketplace®, enabling trade on a local, national and international basis. With a diverse and passionate community of individuals and small businesses, eBay offers an online platform where millions of items are traded each day. It allows people pursue their interests and their passions in the areas of their hobbies and their collectibles.
In 1995, that was a man named Pierre Omidyar who starts engage online garage sale at home. The first name eBay used was Echo Bay Technology. Unfortunately, when the company tried to register the domain name echobay.com, they found that it was already in use. So, they shortened the name to eBay.com and then it becomes the name of the website that you have seen today.
eBay has built an online person-to-person trading community on Internet, using the World Wide Web. Buyers and sellers are brought together in a manner where sellers are permitted to list items for sale and the buyers are allowed to bid on the items which they are interested in. All eBay users can browse through listed items in a fully automated way. The items are arranged by topics, where each type of auction has its own category. They are having both streamlined and globalized traditional person-to-person trading. Their facilities are easy for the buyers to explore and enables the sellers list an item for sale immediately within minutes of registering. The binding contract of the auction is between the winning bidder and the seller only.
Causes of success
- The key success of eBay is cause by the Effective which is concerned with “doing the right thing” between Persistent Marketing and Public relationship of the owner. By implement the strategic marketing policies in promoting their products and the cheap price quoted, it attracted a lot of customers to view and purchase their product all the times and indirectly continue increase their profit.
- Another cause of their success is eBay give great customers’ services. Ebay maintain continuous concern on their customers and understand customers’ needs. Maintenance and warranty are provided to the customer that purchases their goods and found out damages.
- eBay provided easy and convenience tools for the users to select their items purchases, simply clicking on the product, the design of the web page will bring customer to other sites of the products. Users’ friendly web page allows customers to view on details and explanation on the products before making any purchases.
- Another key success of eBay is based on the safety banking payment process. Ebay business provides safe environment for the users and customers that browse their web page and when they are making purchase through the internet, this site make it private and disallow hacking on customers' password by other intentional hackers.
Fundamentally, it is so successful because it meets its customer's needs better than any competitors do. Nowadays, people are becoming more and more comfortable with shopping online and they're getting more and more accustomed to doing that. That's another factor why eBay is grateful.
References:
http://www.cs.brandeis.edu/~magnus/ief248a/eBay/history.html
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