ebay's success story?

Here goes his success story…

Yes! that guy was the founder of one of the first online marketplaces on the world-wide web,

Founded by PIERRE OMIDAYAR , a French- Iranien immigrant .

Now,

Why has EBAY succeeded as an online auction market place while so many others have failed?

Uniqueness !

The founder wrote the code for an auction Web site where everyone would have equal access to a single global marketplace in the year 1995.

1995 ! ,when there was no face book and twitter!

He couldn’t believe it when a collector bought the first item, a broken laser pointer, for $14.83. Soon the site grew .

The momentum continued when individuals and small businesses discovered that eBay was an efficient way to reach new consumers and other businesses.

eBay pleased both buyers and sellers.

•eBay’s business model is CONNECTING INDIVIDUALS who otherwise would not be connected.

• Make their Web site a COMMUNITY.

• REINFORCED TRUST between strangers.

FROM THEN , TILL NOW ALWAYS MADE ITS OWN PLACE.

CUSTOMERS FEEL LIKE OWNERS !

The users too have a voice in all major decisions the company makes through its Voice of the Customer program.

THEY WERE HIGHLY PLEASED BECAUSE•They felt they were in control•They received the best possible price.

THE SELLERS WERE ALSO PLEASED BECAUSE• They reached a wide variety of buyers • They ended up owing very little overhead when the deals were done.

which allowed the bidders/buyers to determine the price they were willing to pay for an item.

•Nowadays even companies first check items on eBay before they estimate the price they will charge for their products.

EBAY INTRODUCED

CAN THERE BE MORE REASONS FOR SOMEONE TO BE SUCCESSFUL?

Recap:

•eBay’s business model is CONNECTING INDIVIDUALS who otherwise would not be connected.• Make their Web site a COMMUNITY.• REINFORCED TRUST between strangers.•CUSTOMERS FEEL LIKE OWNERS !•They felt they were in control•They received the best possible price.The sellers were also pleased because• They reached a wide variety of buyers • They ended up owing very little overhead when the deals were done.

Credits: Images.google.com

A Presentation by Sravya Tanmayee

SRAVYA TANMAYEE, IIITDM-kancheepuram

during an intern by

Prof. Sameer Mathur ,IIM Lucknow

Thank you !