Eight Unique Features of E-Commerce Technology

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Introduction Giosis Gmarket International is a consumer to consumer type of E-commerce whereby consumer can sell products directly to another consumer by a market creator creating a marketspace. “Consumer to Consumer (C2C) e-commerce provide a way for consumers to sell to each other with the help of an online market maker” (Laudon and Traver, 2010) The online market maker such as Gmarket will provide catalogue, search engine and transaction capabilities for user to place their products and services on auction or sales. Giosis Gmarket International is a joint venture company with eBay which provides an innovative ecommerce platform for both buyers and sellers. Gmarket attracts sellers from all over the world that offer different products…show more content…
As mention earlier, with such feature and technology available it greatly reduced the transaction cost between merchants and buyers and reduces the buying process. In figure 7 show the screenshot of Gmarket provide such interactivity for sellers and buyers. Under my inquiry column after buyers had login into Gmarket account, buyers can post questions to sellers on regards to the shipping status, products enquires to clarify their doubts. Buyers could also feedback on the goods they receive such as quality, sizes, damages on the to the seller. An email will be send by Gmarket to the buyers to notify the buyers that the sellers had answered the buyers questions or doubts about their products and services. Figure 7 Information Density Information density refers to “the total amount and quality of information available to all market participants, consumers and merchants.” (Luadon and Traver, 2010) That is, with the aid for internet technology, users are well equip with the freshest information make available for them. For instant, we can get the latest news around the world from CNN website, Facebook the latest update of friends status as well as the stock prices or currency rates from the banks website in real time basis. Likewise for business, cost and price had become transparent to merchants and consumers. “Price transparency refers to the ease with which consumers can find out the variety of
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