A Comparative Analysis of Marketing Opportunities in Online Auctions

This report provides an analysis of marketing opportunities within the online auction business, with a focus on establishing a competitive platform against eBay. The report examines key areas such as product variety, auction procedures, and pricing strategies. It emphasizes the importance of adapting innovative methods to differentiate the auction portal from rivals, suggesting improvements in product range and display to enhance customer engagement. The report also suggests segmenting auctions based on price points to cater to a diverse customer base, concluding with strategies for creating a successful online auction business. The analysis includes references to relevant academic and industry sources to support its findings, providing a comprehensive overview of the online auction marketing landscape.

Running head: MARKETING OPPORTUNITIES IN ONLINE AUCTIONS
MARKETING OPPORTUNITIES IN ONLINE AUCTIONS
Name of the Student
Name of the University
Author Note

1MARKETING OPPORTUNITIES IN ONLINE AUCTIONS
Executive summary
The major focus of the report is to analyze the three different market opportunities that a
person should pursue if he would set up an online auction business. The strategy has been
compared with the strategy that is considered by eBay an online shopping portal. The primary
aim of the report is to study the marketing strategy to establish a rival business and make it a
successful one. Finally, the solutions have been provided to make the business more popular
than eBay.

2MARKETING OPPORTUNITIES IN ONLINE AUCTIONS
Table of Contents
INTRODUCTION......................................................................................................................3
AUCTIONS DONE ONLINE....................................................................................................3
THE PROCEDURE...................................................................................................................3
MAINTAING THE VARIETY.................................................................................................3
MAINTAINING THE PRICE...................................................................................................4
CONCLUSION..........................................................................................................................4
REFERENCES...........................................................................................................................5

3MARKETING OPPORTUNITIES IN ONLINE AUCTIONS
INTRODUCTION
The report consists of the analysis of the comparison of a rival e-commerce website
with EBay. The purpose of it is to study the process, which needs to be included by the rival
website. The report concludes with an effective conclusion, which includes the improvement
of the variety, the procedure and the price of the products.
AUCTIONS DONE ONLINE
Online auction option is one of the most attractive points that are quite popular among
the customer. To set up a new online auction business it is necessary for the owners of the
business to adapt some innovative and unique ways that will make the portal different from
his rivals. Along with the process, a change in the variety of products and the range of it
should be taken into consideration. Online auctions of products are highly in demand now as
there is a guarantee that the customers are willing to buy the products immediately
(Ebay.com, 2017).
THE PROCEDURE
The procedure should be made very flexible and an easy one. In EBay, the products
all the products are not visible at the same time as they come in different lot (Ebay.com,
2017). In order to become competitive rival of it there should be a different strategy that
should be implemented in the process of auctioning the products. All the products should be
made to display to the customers. If this process can be followed, there will be more options
in front of the customers. It will be more feasible for them. The payer who is able to pay the
highest for the products should be given the chance to own it (Park et al., 2012).

4MARKETING OPPORTUNITIES IN ONLINE AUCTIONS
MAINTAING THE VARIETY
The variety of products should be more. In other portals during auctions choice of
limited products is given. The best way to increase is a successful rival in this field is to
increase the range of the products. The customers should be given more options, which will
make the increase the revenue of the company as there will be more sale. More options will
definitely increase the sale of the products. It should range from daily needs to health care
also including the personal care things (Heath, 2012).
MAINTAINING THE PRICE
The status customers who take part in online auctions are mixed. Some can afford
high range of products and some cannot. Therefore, the event when the auction is being held
should be divided in two halves. One half should contain the high price products and the
other should contain the low price products. Customers can accordingly find their needs
through this. Participation in both the events should be made available for all types of
customers. The one who wants costly product can participate in the comparatively cheap
products and vice versa (Levy & Handler, 2013).
CONCLUSION
While concluding it can be mentioned that, the above-mentioned strategies can help a
person to set up an online auction portal and make it a successful one. By following the
strategies, a strong competition can be set up for the competitors in the market.

5MARKETING OPPORTUNITIES IN ONLINE AUCTIONS
REFERENCES
Ebay.com (2017). [online] Available at: http:///www.ebay.com [Accessed 13 Sep. 2017].
Heath, S. (2012). U.S. Patent Application No. 13/359,498.
Levy, D., & Handler, B. (2013). U.S. Patent No. 8,527,392. Washington, DC: U.S. Patent and
Trademark Office.
Park, S. C., Keil, M., Kim, J. U., & Bock, G. W. (2012). Understanding overbidding behavior
in C2C auctions: An escalation theory perspective. European Journal of Information
Systems, 21(6), 643-663.