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Research on EBAY's online auction model and recommendations for Vietnam - 1


FOREIGN TRADE UNIVERSITY FACULTY OF ECONOMICS & INTERNATIONAL BUSINESS MAJOR IN FOREIGN ECONOMICS

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GRADUATION THESIS

Topic:

Research on EBAY's online auction model and recommendations for Vietnam - 1

RESEARCH ON EBAY'S ONLINE AUCTION MODEL AND SUGGESTIONS FOR VIETNAM


Instructor: Master Nguyen Quang Hiep Student: Tran Thanh Huong

Grade: English 18

Course: K43E – KT&KDQT


Hanoi, June 2008

INDEX

Foreword 1

CHAPTER I. OVERVIEW OF E-COMMERCE AND GENERAL INTRODUCTION TO EBAY AND PAYPAL 3

I. Overview of e-commerce 3

1. Concept of E-commerce 3

1.1. Concept of e-commerce in narrow sense 4

1.2. Concept of e-commerce in broad sense 5

2. The process of formation and development of e-commerce 9

2.1. History of the birth and development of the Internet: 9

2.2. Development stages of e-commerce: 11

3. Characteristics and classification of e-commerce 11

3.1. Characteristics of e-commerce 11

3.2. Classification of e-commerce 12

II. General introduction to eBay 16

1. History of formation and development 17

1.1. The Birth of eBay 17

1.2. Important historical milestones 19

2. Business situation of eBay Inc 20

III. General introduction to PayPal 23

1. History of formation and development 24

2. PayPal's current business situation 26

CHAPTER II. RESEARCH ON EBAY'S ONLINE AUCTION MODEL 28

I. Overview of online auction model 28

1. Concept of online auction model 28

2. Advantages of the online auction model 28

II. eBay's Online Auction Model 30

1. Business Model 30

2. Sales and purchase process on website www.eBay.com 31

2.1. Sales process 31

2.2. Purchasing process 36

3. Elements of the eBay Business Model 36

4. Payments on eBay – study of PayPal's operating model

................................................................ ................................................................ .......... 40

4.1. PayPal's online banking model 40

4.2. Evaluating PayPal's Success and Contribution to eBay 47

III. The eBay Economy 55

1. Population of the economy 56

2. Internal and external activities 56

2.1. Internal 57

2.2. Foreign Affairs 60

3. Security 60

4. Opportunities and challenges 61

4.1. Opportunity 61

4.2. Challenge 62

CHAPTER III. EVALUATION OF EBAY'S BUSINESS MODEL AND SUGGESTIONS FOR VIETNAM 64

I. Evaluating eBay's Business Model 64

1. The Secret to eBay's Success 64

1.1. The role of the intermediary 64

1.2. The “fun” factor 65

1.3. Community 67

1.4. Simple, safe and secure 66

2. The role of founder Pierre Omidyar 67

II. Assessment of conditions for developing e-commerce and online auction model in Vietnam 69

1. Advantages 69

1.1. High economic growth, stable political and social system 69

1.2. E-commerce receives attention from the Party and Government 69

1.3. The legal system is gradually improving 71

1.4. Information technology infrastructure and the Internet are developing strongly 72

1.5. The situation of applying E-commerce in enterprises 74

2. Difficulties 76

2.1. Human resources for e-commerce development are still limited 76

2.2. The legal environment for e-commerce is still in the process of formation 77

2.3. Technology infrastructure does not guarantee the development of e-commerce 77

2.4. Traditional trading habits and practices 79

3. Current status of developing Online Auction Model in Vietnam 79

4. eBay's launch of Vietnamese website - opportunities and challenges

................................................................ ................................................................ .......... 83

III. Proposals to develop online auction model in Vietnam 85

1. Recommendations to the government 85

1.1. Perfecting the legal environment for e-commerce 86

1.2. Upgrading and perfecting information technology and telecommunications infrastructure

................................................................ ................................................................ ........ 87

1.3. Improving the qualifications of IT staff and people 88

1.4. Support businesses in online auctions, build payment standards for online transactions 89

2. Proposal on building an official website for online auctions in Vietnam 91

3. Some opinions for people in promoting the development of online auctions in Vietnam 93

Conclusion 95

LIST OF REFERENCES 97

Preface

The rapid development of information technology and the Internet in the past few decades has changed the face of the world and connected all of humanity together. The Internet is penetrating every corner, from the most modern civilized cities to the most remote rural areas of underdeveloped countries. The Internet is covering almost every area of ​​life today, and bringing great benefits to all of humanity. Business, of course, is one of the industries that has benefited the most from the development of the Internet. Although the Internet business industry has only developed in the past decade, its dizzying growth rate and the birth of darlings, giants, and inviolable empires such as Amazon, eBay, Yahoo! or Google are undeniable proof of its miraculous power.

One of the giants with global influence in the Internet business world is eBay, an e-commerce company operating on the online auction model, owning the largest and most successful online auction website in the world of e-commerce - ebay.com. eBay is a bridge connecting nearly 200 million buyers and sellers worldwide, a "market" where people buy and sell more than 50,000 types of goods, with a transaction value of up to 1.6 USD per second. With a network of more than 300,000 eBay online stores, eBay has become a place for more than a million professional sellers to make a living and tens of thousands of people are using eBay to earn extra income. More than half of the transactions taking place on eBay are international transactions, demonstrating the expansion of this empire in the global e-commerce industry.

In particular, with the PayPal payment tool, eBay has built a “dynamic and self-regulating economy” with rules and regulations.

With its own democratic institutions, a new way of management, a large population and effective domestic and foreign policies, its influence is becoming more and more profound in the Internet business world.

Realizing the great success of eBay, its solid position and power in the global Internet business world, I would like to choose the topic "Research on eBay's online auction model and recommendations for Vietnam" as the topic of my graduation thesis, aiming to deeply study the secrets of success of the online auction model that eBay has built, draw lessons and make recommendations to develop the online auction model in Vietnam, contributing to changing the face of the country's Internet business industry.

In addition to the Introduction and Conclusion, the content of the Thesis is presented in three chapters:

Chapter I: Overview of E-commerce and general introduction to eBay and PayPal

Chapter II: Study of eBay's online auction model


Chapter III: Evaluation of eBay's business model and recommendations for Vietnam.

I would like to sincerely thank Master Nguyen Quang Hiep for his dedicated help in completing this thesis. However, due to limited time and limited collected documents, the thesis is inevitably flawed. I sincerely hope to receive sincere comments from teachers to help me improve my thesis.

CHAPTER I‌‌

OVERVIEW OF E-COMMERCE AND GENERAL INTRODUCTION TO EBAY AND PAYPAL

I. Overview of e-commerce


1. Concept of e-commerce


E-commerce is known by many different names, such as "electronic commerce", "online trade", "paperless commerce" or "e-business". However, "e-commerce" is still the most popular name and is used consistently in documents or research works of organizations or researchers. E-commerce begins with the purchase and sale of goods and services through electronic means and telecommunications networks. Enterprises move towards applying information technology to all their activities, from sales, marketing, payment to purchasing, production, training, coordination of activities with suppliers, partners, customers... then e-commerce develops into e-business, enterprises applying e-commerce at a high level are called e-enterprises. Thus, it can be understood that e-business is a development model of enterprises when participating in e-commerce at a high level and applying in-depth information technology in all business activities.

Currently, the concept of e-commerce has been proposed by many international organizations, but there is no unified concept of e-commerce. In general, the concepts of e-commerce are divided into two groups depending on the point of view:

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