Examlex
________ are products and services bought by final consumers for personal consumption.These include convenience products,shopping products,specialty products and unsought products.
Reverse Auction
An auction in which the roles of buyer and seller are reversed, with the seller competing to obtain business from the buyer and prices typically decreasing as the auction progresses.
Disintermediation
Elimination of intermediaries in electronic commerce.
Substitute Products
Products that can serve as replacements for each other; when the price of one product rises, the demand for its substitute may increase.
Reverse Auctions
An auction model in which the roles of buyer and seller are reversed, with sellers competing to obtain business from the buyer by offering the lowest price.
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