An example of an E-Commerce success and its causes(week 3)

eBay- which is founded by Pierre Omidyar, is an auction house that never sleeps and it connects both buyers and sellers. eBay is operating on a basic business model, which combined the elements of yard sales, newspaper classified ads, and auctions, that contributes to its success. eBay's role is simply bringing the buyers and sellers together and facilitates commerce. It does not carry and ship inventories. It's exactly like a medium that joined the online buyers and sellers. To become a buyer or seller, we just have to go through a few steps and this only takes few minutes. In addition, eBay also provides us with the user guides.Nevertheless, eBay is not only about getting an item sold, but it also strives to establish trust among buyers and sellers. Its core interest is to build an online community so that everyone can get the most out of what they have. eBay even provides a chatting room for its users to talk and exchange information and opinions. This can establish a relationship among users and can also improve the buying process which reduces the cognitive dissonance of post-purchase. Another cause of success is, people are enjoying the process of bidding. Most of the people like a bargain, they like to negotiate over a price and they feel really satisfied when they are able to get a lower price.