Dynamic pricing and consumer to consumer

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Chapter 5 Conclusion and Recommendations

Relying on discussing the research topic “Which strategic methods lead to eBay running a successful business, Dynamic Pricing or Consumer to Consumer, or both?” In this chapter, first of all it will review of what the research has got and achieved. Secondly, it shows several recommendations to future research.

It is clear that the study is around clear structure through the whole research:

The research displays a couple of definitions of Dynamic Pricing and
Consumer to Consumer (C2C). According to (Prince, 2007) the dynamic
format is defined by the back and forth bidding and ensure whether an item is
up for bid in an online auction environment or not. Consumer to Consumer
(C2C) is one simple type of model facilitates between consumers. The most
famous C2C company is eBay, which is the largest personal on-line trading
community in globalization. On eBay flat fees for matching buyers and
sellers and commission for each dealing are the main revenue (Korper and
Ellis, 2001). In literature review part, it also gives more extent knowledge to
explain Dynamic Pricing and Consumer to Consumer (C2C). For instance, in
Dynamic Pricing, the study conducts the knowledge of auctions, which can
be divided into four segments: Ascending, Descending, Dutch and Vickery.
In Consumer to Consumer, from explaining the meaning of 4C (customer,
cost, convenience and communication) to refer to consumer behavior.
Besides, with interpreting the B2B (Business to Business) and B2C (Business
to Consumer) to in-depth explain C2C. Depending on the topic is researching
on eBay, the study also shows a great deal of relative knowledge concern to
the relationship between E-business an E-commerce to give ideas of eBay'
e-business before Dynamic Pricing and Consumer to Consumer.

The research methodology reveals the investigator how to carry on the
research. The main research methods in the study are going along
questionnaire as primary research and analyzing the communication records
between consumer to consumer in eBay as secondary research. The reasons
for picking up these two research methods are as following:

  • According to Dörnyei (2003), carrying out the questionnaire as the
    research method which save researcher's time and improve the effort.
    By administering a questionnaire to a couple of people (depend on the
    need of the respondents), which can collect a large number of needed
    information in couple of minutes (rely on the number and difficulty
    level of questionnaire). When doing the questionnaire, the investigator
    also can enquire and interview respondents more information according
    to the questions which might not showing on the questionnaire papers.
  • Collecting and analyzing the answers of the questionnaire from 130
    respondents, it only takes investigator a couple of weeks. Therefore,
    questionnaire not only brings efficiency to investigator, but also gives
    investigator a clear and useful result what he expected.
  • Communication records between consumers to consumers on eBay are
    directly shows what is going on buyers and sellers on e-business,
    whether it is comfortable or valuable for consumers or not. In addition,
    with the usage for the consumer, it can see that whether eBay is popular
    and well loved as an e-business or not. This secondary data is also very
    simple to get from the eBay Web sites to make the investigator more
    convenient.

The research sample scale is mainly around Hertfordshire. The questionnaire
is investigated 5 residential areas, in front of the ASDA and around the
University of Hertfordshire. The research has been chosen because in such
places the population density is relatively concentrated and the respondents
are full of patients.

After collecting the useful data from questionnaire and communication
records between consumers and consumers on eBay, the research carries on
analyze the data. The data is concentrate on discussing which marketing
strategy is much more helpful for eBay, Dynamic Pricing or Consumer to
Consumer (C2C). The results of analyzing relative data, the researcher find
both of Dynamic Pricing and Consumer to Consumer are making the eBay as
a successful e-business, though few respondents stand on negative
standpoints and give a couple of reasons. For example, one of the Dynamic
Pricing methods is on-line auction, which is just an attractive way at the
beginning to attract the consumers in eBay. It cannot seem as a main
marketing strategy to support eBay as a successful company, the evidence is
not enough and lack of persuasion. Referring to the Consumer to Consumer,
it seems as a coin-competitiveness in eBay, however, in eBay the main target
is to give consumers convenience. Consumer to Consumer only one of the
methods to achieve the final gain. In terms of Dynamic Pricing and
Consumer to Consumer, they are both refer to on-line auction, which the
main promotion and business method to eBay, and personal business that just
according to own interest to sell or buy the product with the lower price
compared with real market. The reasons for lower price are:

The seller does not need physical store to increase his cost, which will
pay a majority of fees, such as the wages for employees, electronic and
water bills and income tax, etc.

Someone removes the home address, some furnitures are not easy to be
arranged in the new property but they are available, thus some of sellers
get rid of them as a lower price. However, most of furniture should be
picked by buyers themselves.

In order to improving the positive reputation, sell products as a lower
price even lose money.

With cheaper products and fulfill shopping desire to consumers, and using
both Dynamic Pricing and Consumer to Consumer make eBay to convenient
the consumers, and finally makes it as a well known and popular e-business
company.

In terms of the conclusion, a couple of recommendations could be expressed to the researcher in the future study.

  • In the research method, if the researcher would carry on future study like this
    type of survey, he could use group interview. It would be more images and
    specific to the analysis of issues. However, it also would spend investigator a
    great deal of time to organize the interview time.
  • More questions could be used in questionnaire if researcher wished to more
    in-depth analysis of research topic. This would depend on your respondents
    whether they would like to spend much more time to complete the
    questionnaire.
  • According to the respondents, whether researcher to do another type of topic
    could choose the college students in University of Hertfordshire. It is not
    necessary to investigate in other places. Because these students might have
    much more idea of Dynamic Pricing and Consumer to Consumer marketing
    strategies and also might have more experience on eBay.
  • The result of analyzing the research topic is both of Dynamic Pricing and
    Consumer to Consumer, which are lead to eBay running a successful
    business. This result is proved as same as the hypothesis with enough
    evidence and adequate theories.

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