Mercantilism And E Bay E Bay Operates Just Like A Modern Day Flee Market And In Many Ways E Bay Operates Similar To The Old Mercantilism Style Of Economic System.

3565 words - 14 pages

Mercantilism and eBayeBay operates just like a modern day flee market and in many ways eBay operates similar to the old Mercantilism style of economic system. Merchants gather together to buy and sell their products, but unlike the old market places these merchants now gather on-line. With eBay itself, being the chief merchant the owner of the village market so to speak."Mercantilism allowed the market to operate, but it kept the market under its control. The market was not allowed to respond freely to the laws of supply and demand" (Colander 50.) eBay does exactly that. They control the market. eBay is the head merchant, the owner of the market and the king of Internet Market.Overview of eBayeBay is the online marketplace for the sale of goods and services by a diverse community of individuals and businesses. This marketplace was founded in September 1995. Today, the eBay community includes 49.7 million registered users and is the most popular shopping site on the Internet when measured by total user minutes, according to Media Matrix. In 2000, the eBay community transacted more than 5 billion in annualized gross merchandise sales. On any given day, there are millions of items listed on eBay across thousands of categories. People come to eBay to buy and sell all kinds of practical, unique, and interesting items, such as automobiles, jewelry, musical instruments, cameras, computers, furniture, sporting goods, tickets, to name a few (eBay).eBay's mission is to help almost anyone trade practically anything on Earth. eBay enables trade on a global basis. It features a variety of international sites, specialty sites, categories, and services that aim to provide users with the necessary tools for efficient online trading in an auction style and fixed price format. The eBay community profits from an environment combining traditional auction-style and fixed-price trading on their e-commerce site. provides an organized online marketplace to buy and sell high quality, previously owned mass-market goods. Unlike auctions, where the selling price is set on bidding, the seller sets a fixed price for items on at the time the item is shown (eBay).eBay users reflect countries from all over the world. It is common to hear about eBay users in Korea buying items from users in the U.S., or users in Australia buying from others in France. Currently, eBay has country specific sites in Austria, Australia, Canada, France, Germany, Ireland, Italy, Korea, New Zealand, Switzerland, and the United Kingdom (UK). With eBay's vision and global business strategy, the company continues to expand its service and brand abroad (eBay)."International expansion is progressing nicely and is likely to become a significantdriver of growth over the next 3-5 years. According to eBay, Gross Merchandise Sales (GMS) in Europe grew 130% faster than GMS in the United States, fueled primarily by strength in Germany and the United Kingdom. The recent introduction of...

Find Another Essay On Mercantilism and eBay eBay operates just like a modern day flee market and in many ways eBay operates similar to the old Mercantilism style of economic system.

EBAY Essay

1401 words - 6 pages After only three years of being in business, Ebay had started the process for its public stock sale, when the stock valuations were at record levels. Then a drop on the Internet Stock Index (ISDEX) and the S&P500 caused many companies to put their publicly traded future on hold. Later, the market started to recover at the cost of high volatilities and the question of whether to go public or not became a big concern for Gary Bengier.Unlike

Ebay Essay

1044 words - 4 pages footsteps in finding ways to expand the business and to provide new products and ideas to new and loyal customers. One of HEB's food and drugstores in the Rio Grande Valley is the first HEB store to be built in Edinburg, Texas to serve the customers in the lower valley. This store like many HEB stores has many departments such as a Bakery, Market and Seafood, Deli, Cosmetics, Produce, Floral, General Merchandise, Pharmacy, and Grocery. The

amazon and ebay

6411 words - 26 pages . All of that was shortened down when Pierre, at the prompting of his wife and interest in Pez dispenser collections, used his interest in fragmented markets and efficient marketplaces as a laboratory for what eventually became eBay. Pierre wanted to name the company Echo Bay. However, another company had registered As a result, he chose eBay. Pierre had strong opinions about the unfairness of many market arrangements. This led to his

ebay Inc.

1237 words - 5 pages activity. The company also offers escrow and insurance services for higher-priced items (Standard and Poor’s cite). eBay has always done very well in focusing its company’s goals and has been fast in grabbing onto opportunities like acquiring services, such as PayPal and Skype. Meanwhile, the weaknesses and threats mention above; system failures, lack of control over counterfeit products, and exposure to Internet fraud are the major issues that affect eBay and its target market. These issues have a negative effect on eBay and can lead to many users to stop using eBay must resolve and address these issues in order to attract new users.

eBay Analysis

2818 words - 11 pages operating margin-modest growth compared to the growth experience eBay was used to-and they would hit their targets a year ahead of schedule. In addition, eBay was experiencing phenomenal market response through their stock price. In just a year (2003-2004), eBay’s stock price climbed over 85% (based on estimate of exhibit 11 in case study). In terms of its three profit centers-U.S. operations, International operations, and payment revenues-Exhibit 4

Ebay analysis

987 words - 4 pages The name “eBay” ( is synonymous with “online auctions”. Founded in September 1995, the company qualifies as a genuine cultural and economic phenomenon (Bunnell, 2000, p.vii). The site can be credited with creating and defining an entire industry and has remained the dominant force in the online auction world, with anywhere from 70 to 90 percent of the person-to-person online auction market. eBay is also the 15th most visited

Ebay Selling

1727 words - 7 pages in the hell are we supposed to know how to correct it the next time or to know if the low rating was a mistake by a buyer or wrongly given. It would be like me going to my 12 year old son and grounding him for a month and when he asks why, I would not be able to tell him! I could only say it was because of something he did a month or so ago. This Ebay system is the same principle.I actually had a buyer that I had requested to leave a positive

eBay Powerseller

2782 words - 11 pages where you will find top-quality merchandise from your favorite name brand companies! You'll also find a great selection with new products added every day. The products are top quality, just like those in the nation's finest department stores, and they're backed by the warranties you expect. Once you get your feet wet, and want to make some international contacts, go to , and . Both of these

How to use Ebay

769 words - 3 pages JonesJenette JonesCoffinEnglish 989-23-08Rough Draft-Process Analysis EssayHow To Use eBayWhere can you find cameras, phones, comics, clothes, antiques, shoes, jewelry, cars, even real estate all in one place? Where else but eBay, the ultimate marketplace. It can be as addictive as ever in today's shopping world. People see something they like, place a bid, they wait and see if they won, and pay. It is as simple that. Some people are afraid of

Amazon and eBay : The New Face of Web Services

1650 words - 7 pages 1. What are the purpose and business value of Web services? The aim is to connect the system, since Web users and business partners. In addition, the aim is to sell products on the platform and the site acts as a guide for their customers. In the other hand, creating a web service data will exchange between businesses in real time via the Internet. Therefore, this method may share business with suppliers, customers and other business partners

Leadership style: Meg Whitman, CEO of eBay one of the richest female CEOs in the world.

3792 words - 15 pages businesses. Digital is a state of mind just as much as it is a technological phenomenon. It is about making new connections and creating value in new ways.Digital leaders are able to organize themselves and their organization to take advantage of new market opportunities. This is at the heart of their success and of their leadership style. The essence of being a digital leader is also transformation. Transformational leaders have the capacity to

Similar Essays

Ebay Essay

1749 words - 7 pages successful in generating repeat business. Many people are, in fact, making a living using eBay as their sole business. The whole eBay system basically involves three entities: Buyer, seller, and broker (eBay) EBay?s original name was AuctionWeb, with a goal of replacing classified ads. Sellers would post an item with a minimum price, and if more than one buyer was interested, the true market value would be found. eBay was a "market maker" rather

Ebay Essay

2655 words - 11 pages entry in the 1595 Oxford English Dictionary. At that time, auctions were held in taverns and coffeehouses to sell art and furniture. A seventeenth century catalog describes a process called "mineing", which was similar to the Dutch auction because the auctioneer started the bidding high and worked down. A lot was claimed when someone yelled, "Mine".There are many popular ways to facilitate the auction process. As in the example above, a Dutch

Ebay Essay

2412 words - 10 pages could diversify to new markets in which they do not operate at the moment and expand their business to create more revenues and profits. Right now they have a large base of customer that are proven to be loyal, but they still can expand their target market and increase their customer base. People are changing they way the purchase and sell things and eBay can take advantage of this and penetrate new markets and find new potential customers. Over

E Bay Essay

769 words - 4 pages Support questions that require flexibility and some judgment on the part of the service employees. 5.0 Conclusion: eBay’s Three tier approach helping them to resolve their Customer support issues, Tier one which is outsourced in India takes care of around 60% of eBay’s general support emails, whereas more complex issues which account’s around 30% of email inquiry were send Experts in both India and US. The third tier involved Law or personal issues and that is being handled by eBay’s USA employees. Another key player in email support is “KANA” email system, it helped eBay to achieve its goal.