Question

online auction is an example of ___ model of E-commerce.

Answer 1

Answer:

B2B e-commerce ( B2B e model)

Explanation:

A B2B model operates by providing products from one business to another, through either online auctions or e-marketplaces. Online auctions are computerised versions of traditional auctions where buyers set the prices and bid against each other.

Answer 2

Answer:

Online auction is an example of business to consumer (B2C) model of E-commerce.

Explanation:

E-commerce:

• Trading of products or services is referred to as commerce.
• E-commerce, or electronic commerce, is a contemporary innovation that makes it easier to trade goods and/or services online.

Types of E-commerce:

1. Business-to-Business (B2B)
2. Business-to-Consumer (B2C)
3. Consumer-to-Consumer (C2C)
4. Consumer-to-Business (C2B)
5. Business-to-Administration (B2A)
6. Consumer-to-Administration (C2A)

Online auction is an example of Business-to-Consumer (B2C) model.

Business-to-Consumer (B2C) model:

• The business-to-consumer business model focuses on the retail elements of e-commerce, i.e., the sale of goods and/or services to the final customer via digital channels.
• The feature, which has swept the corporate world, allows customers to thoroughly review their potential purchases before placing an order.
• Following the placing of such orders, the business/agent receiving the order will deliver the goods to the customer in a timely manner.
• Well-known players like Amazon, Flipkart, and other companies operate in this market. Online auctions come under this model.
• When opposed to the conventional approach, this mode of buying has proven to be advantageous to the customers because they have access to helpful information that can properly inform their purchases.

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