merceMarketMechanismsLearningObjectivesDefinee-petition,quality,andliquidityissuesine-atalogs,shoppingcarts,andsearchenginesLearningObjectives(cont.)DescribethevarioustypesofauctionsandlisttheircharacteristicsDiscussthebenefits,limitations,andimpactsofauctionsDescribebarteringandnegotiatingonlineDescribetheimpactofe-merceandexplainitsroleasamarketmechanismHowRafflesHotelispany’essdependsontheitsabilitytolurecustomerstoitshotelsandfacilitiesandonitsabilitytocontaincostsSolutionBusiness-to-consumer—maintainsapublicportal()thatincludes:InformationonthehotelsReservationsystemLinkstotravelers’resourcesCustomerrelationshipmanagement(CRM)programOnlinestoreforRafflesproductsRafflesHotel(cont.)Business-to-business—anizationalsystemsthatenableefficientcontactswithitssuppliersThee-marketplacealsohasasell-side,allowingotherhotelstobuyRaffles-atalogs(petitorsbuyRaffles-brandedproductsbecausetheyareinexpensive,butlookupscaleRafflesHotel(cont.)upancyratesusing:PromotionsDirectsalesRafflesHotel(cont.)Theprivatemarketplaceisstrategicallyadvantageous:Rafflesinforcingsupplierstodisclosetheirprices,petitionamongsuppliersRafflesissavingabout$1millionayearonprocurementofeighthigh-volumesupplies;essisevidentinitsaggressiveexpansionintheAsianmarketsElectronicMarketplacesMarketsfacilitateexchangeofInformationGoodsServicesPaymentsMarketscreateeconomicvalueforBuyersSellersMarketintermediariesSocietyatlargeElectronicMarketplaces(cont.)3mainfunctionsofmarketsMatchingbuyersandsellersFacilitatingtheexchangeofinformation,goods,services,andpaymentsassociatedwithmarkettransactionsProvidinganinstitutionalinfrastructureNTEEvenstheLoadNationalTransportationExchange()isattemptingtokeeptrucksontheroadfullonbothoutboundandreturntrips—toconnectshipperswithfleetmanagerswhohavespacetofillCreatesspotmarketGetsinformationfromshippersabouttheirneedsandflexibilityindatesWorksoutthebestdealsfortheshippersandthehaulersIssuesthecontractandhandlespaymentsTheprocesstakesonlyafewminutes
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