Digital Markets

Question 1
a) What experiences have you had with shopping online?

I've had only good experiences with shopping online and havent had items i've paid for not turn up. Examples include uding E-Bay and ordering items off websites.
b) Describe a good experience.

A good one was when i purchased a limited edition football jumper off a wesbite.
c) What did you like about the online store you used?

Easier to use and browse from the comfort of your own home.
d) Describe a bad experience.

Haven't had any yet but if I purchased something and it didn't get sent to you, I'd imagine it would be hard to be re-embursed.
e) What problems did you have with the online store?

Perhaps the only problem i've had is that you don't get to actually see something before you purchase it.
f) What features make an online store more appealing?

Being able to purchase things from the comfort of your home.
g) What features make an online store less appealing?

Not being able to actually see things before buying them.
h) Should we expect to see the prices of goods and services rise or fall due to the migration of consumers online?

I'm not exactly sure because prices could fall because online shopping is becoming more popular with more salses occuring. However, online shops could increase their prices because more people are prepared to purchase an item, even if it's more expensive then what it used to be.

Question 2

a) The dispersion of prices (that is, the spread between the lowest and highest price for a particular product) will narrow.

I believe it will get lower because in the document it says that margin's should become lower.
b) The importance of brand names will decrease.

I think it may become a little less important but only fractionally because people will still buy items they believe are of the highest quality.
c) Price competition will make all products cheaper.

I believe it would because competitors will lower their prices to attract customers.
d) Digital markets will become dominated by a handful of mega-sites, like Amazon.com.

No because there are so many new websites being developed and Amazon can't buy them all out. However the new websites need to be advertised to get the consumers attention.
e) How do you think the balance of power between buyer’s and seller’s will change?

Buyer's will be able to influence prices because if more people are purchasing goods from different seller's, they may be forced to lower their prices to stay ahead of their competition.
f) Prices are clustered online.

They could be because seller's will all be trying to have the lowest price possible without losing to much money
g) Online prices are elastic. ( i.e. immune to change up and down with demand)

No because if their is a shortage of items, the price will still rise because their won't be as many to sell.
h) Online prices are generally transparent (the extent to which prices for a given product or service are known by buyers in the marketplace.).

Yes because it's still a competitive market online.

Question 3

a) What types of m-commerce services does your cell phone provider offer?
Internet Access which allows you to purchase items using your phone. Mobile bill payment, Banking and financial services, Location-based services and Games and entertainment.

b) Which of these services do you use?

I only used it to pay my Mobile Bill.

c) What types of transactions do you perform through your cell phone or other wireless device?

Only to pay my phone bill.

d) What types of transactions would you like to perform, but are currently unable to?

None really because I prefer to use my computer.

e) What is your opinion of wireless advertising/mobile marketing?

It would get more publicity but it would frustrate me to have my mobile flooded with advertising.