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What Are The Cost and Risks For Buyers at Auction and How Have Auction Sites Sought To Reduce These Risks? Answer

A network access point (NAP) is a hardware device or a node on the network that allows wireless devices to connect to a wired network. It acts as a common connection point for users to connect to the internet and other network resources. Key functions of a network access point include: - Wireless radio transmitter/receiver - It broadcasts and receives wireless radio signals to connect wireless devices to the network. - Network switch - It acts as a small switch, connecting multiple wireless devices to each other and to the wired network infrastructure like routers. - Authentication - It authenticates and authorizes wireless devices before allowing access to the network. - Network address assignment - It assigns IP addresses to wireless devices connecting to the network.

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104 views8 pages

What Are The Cost and Risks For Buyers at Auction and How Have Auction Sites Sought To Reduce These Risks? Answer

A network access point (NAP) is a hardware device or a node on the network that allows wireless devices to connect to a wired network. It acts as a common connection point for users to connect to the internet and other network resources. Key functions of a network access point include: - Wireless radio transmitter/receiver - It broadcasts and receives wireless radio signals to connect wireless devices to the network. - Network switch - It acts as a small switch, connecting multiple wireless devices to each other and to the wired network infrastructure like routers. - Authentication - It authenticates and authorizes wireless devices before allowing access to the network. - Network address assignment - It assigns IP addresses to wireless devices connecting to the network.

Uploaded by

Jayjay Shalom
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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What are the cost and risks for buyers at auction and how have auction sites sought

to reduce these
risks?

Answer:

The costs for buyers when they participate in an auction are delayed consumption,
monitoring costs, equipment costs, trust risks, and fulfillment costs. Delayed
consumption occurs because auctions can go on for days and the product must then
be shipped to the buyer. Buyers will typically want to pay less for an item for
which they cannot receive immediate gratification. Buyers must also spend time
monitoring the bidding, returning to the site frequently to see if they need to raise
their bid. They must also purchase, or have already purchased, computer systems
and Internet service, and learned how to operate these systems. Since buyers must
pay for packing, shipping and insurance, they will factor these fulfillment costs
into their bid price. Consumers also face an increased risk of experiencing a loss
because online auctions are a major source of Internet fraud. Auction sites have
sought to reduce these trust risks through various methods including rating
systems, watch lists, and proxy bidding. Rating systems are designed sothat
previous customers can evaluate sellers based upon their experience with them.
These evaluations are posted on the site for other buyers to see. Watch lists allow
buyers to monitor specific auctions as they proceed over a number of days and
only pay close attention in the last few minutes of bidding. In proxy bidding
systems, buyers can enter the maximum price they are

What is a Web portal?


A site that people use as a launching point to enter the web.

What is a Web directory?


A listing of hyperlinks to Web pages

What is a paywall?
This is occurs when a Web site visitor is able to view free content up to a certain point,
"the wall", and must pay to view any further.

What is a strategic alliance?


A strategic alliance is formed when two or more companies join forces to undertake an
activity for an extended period of time

stickiness” of a Web site?


The "stickiness" of a Web site is its ability to keep visitors and attract repeat
visitors

Why were many large discount retailers slow to sell online in the early days of electronic
commerce?
Ans
These retailers were reluctant to implement online sales at that time because they had
huge investments in their physical stores.

What is a marketing channel?


Ans
Marketing channels are the different paths that retailers take to reach customers.

What specific internet technologies led to a growth in electronic commerce indeveloping


countries during the third wave of electronic commerce?
Ans
The third wave, brought on by the mobile era, connects users via mobile devicesfor real-time,
on-demand transactions. Web2.0 technology that occurred in thirdwave plays a major role in
third wave

In two or three paragraphs distinguish between the terms “Business activity”,“BusinessProcess”,


“Transaction.”

Ans

Business activity include any activity engaged in the primary purpose of making a profit whereas
business process is a collection of linked tasks which find their end in the delivery of a service or product
to a client and
Business transaction is an activity or event that can be measured in terms of money and which affects
the financial position or operations of the business entity. Business activity in general term that
encompasses all the economic activities carried out by a company during the course of business but
business process has also been defined as a set of activities and tasks that, once completed, will
accomplish an organizational goal whereas business transaction has an effect on any of the accounting
elements – assets, liabilities, capital, income, and expense.

1. Distinguish between Open and Closed Loop Systems with an example of each

. Many customers who use mobile devices prefer to make purchases


using a mobile app instead of their devices’ Web browsers. It is less
clear that these customers search for and select specific products
using only the merchant’s dedicated mobile app. In about 200 words,
outline the advantages and disadvantages of using a specific
merchant’s mobile app to select and purchase products.

As with most technology, using a merchant's mobile app can have


advantages and disadvantages. One major benefit of a mobile app is
that it is specifically made for a mobile device. This ensures that
everything will function correctly and look appropriate, which can not
always be said for a web site. Additional features can be added to the
app that may not be available on the web, and this in turn can make it
a faster, more convenient experience for customers making
purchases. Apps can have a little more personalization as well as the
ability to interact with other tools on a mobile device such as the
camera, microphone, and GPS. They also can have push notifications
that can encourage users to return to the app, and can also have parts
that are available to use offline without data. The main disadvantage
would be that the customer might need to know exactly what merchant
they want to purchase from so they can download their app from the
market. Customers may have a much more difficult time searching
through apps, rather than the web, when wanting to make a purchase.
Another drawback is that downloading an app will cost the user time
and storage on their phone. This can cause hesitation, especially for
customers that are unsure how frequently they will use the app.

Discuss the four barriers to Electronic Commerce

Identify five categories of plastic cards that are used for purchases
Ans
 4.1Credit card
 4.2Debit card
 4.3Charge card
 4.4ATM card
 4.5Stored-value card
 4.6Fleet card
Smart Card

What is a "hook and pay'' strategy and how is it used by some online game play sites?
Ans
In this strategy the new game player is drawn in (hooked) by free play on a game that
has a limited number of levels. The game then offers access to higher levels of game
play, hints or tools for a small fee.
What are the benefits of Internet auctions to sellers, buyers, and market makers in an auction?
Answer: The general benefits of auctions to sellers and buyers are liquidity, price discovery, price
transparency, market efficiency, lowered transaction costs, consumer aggregation, network
effects, and market maker benefits. Sellers and buyers are connected in a global marketplace
where even difficult to price items can be competitively priced based on supply and demand.
Everyone in the world can see the asking and bidding prices for items, although prices can vary
from auction site to auction site. Buyers are offered access to a selection of goods that would be
impossible to access physically. Buyers and sellers benefit by the reduced costs of selling and
purchasing goods compared to the physical marketplace. A large number of consumers who are
motivated to buy are amassed in one marketplace, which is a great convenience to the seller.
Network effects are achieved because the larger an auction site becomes in both the numbers of
users and products, the greater all of the above benefits become and therefore the more valuable
a marketplace it becomes. Auction sites carry benefits for market makers as they have no
inventory carrying costs or shipping costs. In addition, market makers can earn revenues from the
various stages in the auction cycle: transaction fees, advertising and special placement fees,
listing fees, financial services fees from payment systems. Difficulty: Moderate AACSB: Analytical
thinking; Written and oral communication

What is the difference between business model and revenue model?


A business model describes, in a model-like and holistic manner, the logical
connections and the way in which a company generates value for its customers. ...
A revenue model describes the structure of how a company generates revenue or
income. Each customer segment can contain one or more revenuestreams.

A business model is a method for capturing value.


A revenue model is a structure for billing customers.

What is virtual community?


virtual community, also called a Web community or an online community, is a gathering place
for people and businesses that does not have a physical existence.
How did bulletin board systems and Usenet newsgroups provide early social networking
opportunities for Internet users in the 1970s and 1980s? Bulletin board systems (BBSs) were
computers that allowed users to connect using dial-up connections through telephone lines to
read and post messages in a common discussion forum that resembled an electronic version of
a physical bulletin board, Usenet was a set of interconnected computers devoted to storing
information on specific topics. Usenet newsgroups were message posting areas on those
computers in which interested persons (primarily from the education and research
communities) could discuss those topics.
Name three Web sites that created virtual communities or facilitated social networkingbefore
Facebook was founded in 2006·
Ans
Friendster·
Tribe.net
MySpace

What is a meetup?
Ans
These social networking sites allowed people to discuss issues, plan strategies,and arrange in-
person meetings called meetups
Briefly describe one example of how the internet of things might be used to reduce costs or
increase efficiency in a business.
Ans
mputers can also be connected to each other using the Internet to conduct business
transactions without human intervention. For example, a computer that monitors inventory
levels using sensors connected to it over the Internet can use its Internet connection to place
inventory orders with a vendor’s computer automatically. The subset of the Internet that
includes these computers and sensors connected to each other for communication and
automatic transaction processing is often called the Internet of Things

On the internet, what is the function of network access point?


Ans
A Network Access Point (NAP) was a public network exchange facility where Internet service
providers (ISPs) connected with one another in peering arrangements. They were often points
of considerable Internet congestion.

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