Quantitative analysis of internet auctions advertising features: an empirical study

• Autorzy: Wojciechowski A. , Warczynski P.
• Języki publikacji: EN

Abstrakty

EN

Internet auction sites are trading platforms with huge number of visitors who may become customers. On-line auctions allow users to buy and sell products without geographical borders, as in majority of cases ordered products are delivered by surface mail. The aim of the study was to collect substantial amount of data describing on-line auctions in a variety of attributes, and customer behaviour. We provide quantitative arguments in the discussion on effectiveness of promotional features used in on-line auctions. Experimental survey showed that almost 2/3 of the total number of observed auctions were indexed in five top (out of 23) product categories. Noticeable difference in sale effectiveness was observed for particular days of week and hours of auction termination. On Saturdays and Sundays the chance to terminate an auction with transaction was 17.72% and 19.46%, respectively, while on Tuesdays – Orly 14.29%. The highest ratio of successful auction-transaction against total number of auctions ending within particular hour occurred between 19:00 and 22:00. Our approximation of job lot transactions showed that it was a common practice among bidders to buy more than one product form one seller. In the reference period about 25% of all transactions could be qualified as job-lot ones. A miniature image displayed by auction title appeared the cheapest and most price effective form of advertising an auction while promoting on action site main page was the most effective in increasing visits/displays (by 2341%), yet, the high price of this advertising feature may pay back only if customers’ visits turn into transactions.

Słowa kluczowe

EN

on-line auctions; price effectiveness; bidder behaviour

• Wydawca: Systems Research Institute, Polish Academy of Sciences
• Czasopismo: Control and Cybernetics
• Rocznik: 2012
• Tom: Vol. 41, no. 4
• Strony: 851--865
• Opis fizyczny: Bibliogr. 8 poz., wykr.

Twórcy

autor

Wojciechowski A.

• Poznan University of Technology, Institute of Computing Science ul. Piotrowo 2, 60-965 Poznan, Poland

autor

Warczynski P.

• Poznan University of Technology, Institute of Computing Science ul. Piotrowo 2, 60-965 Poznan, Poland

Bibliografia

• 1. STAFFORD, M.R. and STERN, B. (2002) Consumer Bidding Behavior on Internet Auction Sites. International Journal of Electronic Commerce, 7, 1.
• 2. STEINER D. (2002) eBay Germany Bans ’Sniping’ Services. http://www.ecommercebytes.com/cab/abn/y02/m10/i25/s02,October 25, 2002
• 3. WARCZYNSKI P. (2009) Effectiveness Analysis of Internet Auctions Participants’ Behaviour. Master thesis under supervision of A. Wojciechowski (in Polish), Poznan University of Technology, Poznan, Poland.
• 4. WILCOX, R. (2000) Experts and Amateurs: The Role of Experience in Internet Auctions. Marketing Letters, 11, 4.
• 5. WOJCIECHOWSKI, A. and MUSIAL, J. (2009) A Customer Assistance System: Optimizing Basket Cost. Foundations of Computing and Decision Sciences, 34, 1.
• 6. WOJCIECHOWSKI A. and WARCZYNSKI P. (2012) Effectiveness Analysis of Promotional Features Used in Internet Auctions: Empirical Study. In: M. Pechenizkiy et al., eds., New Trends in Databases & Information Systems, AISC 185. Springer, Berlin-Heidelberg.
• 7. YANG, I. and KAHNG, B. (2006) Bidding process in online auctions and winning strategy: Rate equation approach. Physical Review E 73, 6.
• 8. YANG, Y. and WANG, C. (2010) Recent Development in Online Auction Research: A Literature Review. Proceedings of Business and Information, 7, 1.