Wondering never heard of the company’s name. Well it is the most famous online auction sites of all time, The eBay. The name of the e-bay was Auction Web which was changed to this name in the year 1997. It has the most successful and weirdest track record. Weird in the sense that it has sold every possible item from a useless pen to high tech software in its auction and even has sold something’s which are not even worth a penny to bids ranging from a dollar to millions of dollars.
This has been the reason for its prolonged and successful run in the field of marketing. In today’s world where people have become so bland to conventional and stereotypic way of advertising need and expect something more from the manufacturers for the products they sell. Because the competition has increased there is no other way than satisfying what customers expect or else they cannot stay in the field for long. But eBay has never faced this kind of problem because they keep updating and equipping themselves with the state of art technology and buying reputed concerns for their development and to satisfy consumer’s needs. Like they obtained the online money transfer facility PayPal in the year 2002 to make the transaction smoother and to make online shopping a secure and a pleasant experience because till then no other online money transfers were available in such a secure way and moreover the PayPal was simple to use and user friendly getting only small amount of money as commissions for each transaction they make.
Like this they acquired lot more firms and their business expanded steadily. At first eBay sold only odd and interesting items like old baseball used by famous players and some stamps and antediluvian items. But as it grew it started to sell each and every item available in market and from that time there was no better auction site than eBay which never failed to hold customers interest and attention, not even for a moment.
In today’s scenario eBay has adapted itself well and has made contracts with many firms regarding the sale of their items in eBay. It has opened many sites for the purpose of social communication called chat rooms and they provide many kinds of phone services too like SMS alerts and so on.
eBay has a list of prohibited items which strictly not allowed and if put in to auction will be rejected instantly. Like each firm eBay too has its share of regrets as hackers try to steal items and money which is transferred through PayPal. The firm has taken measures to prevent such incidents. Moreover e-bay also offers charity option to people who sell items. They can give a certain amount of money they get from selling as charity. This they do through MissionFish which acts as a mediator.