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Online auctions can be categorized into five main models: C2C, B2C, B2B, B2G, and G2P. C2C refers to customer to customer, B2C signifies business to customer, B2B refers to business to business, B2G signifies business to government, and G2P refers to government to public. In recent years, online auctions have even appealed to major businesses.
Auction websites reside in three categories according to the business model. These are B2B (Business to Business), B2C (Business to Customer), and C2C (Customer to Customer). [9] eBay website serves all three business models. [10] [11] SAP Ariba website is dedicated to B2B.
This approach includes reverse auctions, in which customers name the price for a product or service they wish to buy. Another form of C2B occurs when a consumer provides a business with a fee-based opportunity to market the business's products on the consumer's blog.
A bidding fee auction (also known as a penny auction) requires customers to pay for bids, which they can increment an auction price one unit of currency at a time. The most notable bidding fee auction was Swoopo. Critics compare this type of auction to gambling, as users can spend a considerable amount of money without receiving anything in return.
Consumer-to-business (C2B) is a business model in which consumers (individuals) create value and businesses consume that value. [1] For example, when a consumer writes reviews or when a consumer gives a useful idea for new product development then that consumer is creating value for the business if the business adopts the input.
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