Marketing Strategies of Auction Houses - Coursework Example

The author of this paper discusses the various marketing strategies proposed for auction houses keeping in mind the relationship of the buyer and the seller. Moreover, it talks about the methods for the promotion of activities carried out in the auction houses which assist in keeping up with the loyalty between the buyers and sellers. Various case studies witness the issues influencing the performance of auction houses in which technology plays a key role. Lastly, this discourse proposes a methodology for further practices in the field of auction houses, thereby, effectively studying the results of the practices involved. All in all, this dissertation sets the stage with the recognition of areas for potential research on the auction markets, meticulously on the ones of interest to the market individuals and groups. This dissertation anticipates the augmentation of supplementary work which enhances our comprehension of the corporation and consumer characteristics in the evolving marketplace.
The Business Week discusses that Conventional auctioneers identify the significance of marketing in their business and discuss the principles as well as the notion of selling as the key to success in auctioning. The increasing prominence of auctions is driving new-fangled product market and pricing representations, assessed channel functions, and innovative market research approaches (Business Week, 2001). Still, the marketing literature on auction houses is little for the reason that, regardless of the suggestions by Rothkopf that, auctions prove to be a fruitful field of analysis for the marketing scientists, there are only little hypothetical and pragmatic documents and literature which deal with the title of auction houses (Rothkopf, 2002). This incongruity has called for more research on the marketing strategies of the auctions and auction houses. As a point, in fact, there is a need for rigorous attention on the key aspects of research opportunities related to auction houses.