Word: marketization
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Dates: during 1990-1999
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Bezos may have lost that battle, but he is determined to win the e-commerce war. Last week Amazon.com launched its own electronic flea market to appeal to the millions of online hagglers who passionately bid for everything from stereos and cruises to a Coke bottling plant and the historic town of Johnsonville, Conn. Bezos' is just the latest firm to recognize the Web as the perfect medium to match buyers and sellers in a capitalist free-for-all: Net portal Yahoo rolled out an auction site last fall, and America Online just struck a partnership with industry leader eBay...
...once again, redefined an industry, in this case the highly fragmented market for antiques, collectibles and secondhand goods. From experienced antique dealers to homemakers and senior citizens raiding their attics, a new class of grass-roots merchants is setting up shop. "It's becoming a way of life," maintains Steve Westly, vice president of marketing at eBay, who himself has amassed a collection of 3,000 toy soldiers. "People love the thrill of the hunt...
...consequential as paternity, and Caskey plans to keep cashing in on that need. Identigene is preparing to offer an even cheaper, $150 test that will profile newborns' DNA to reassure anxious parents that they're leaving the hospital with their own child. "It's potentially a much bigger market than paternity testing," says Caskey. And a bigger payoff...
...fragrances, underwear and eyeglasses from any of these designers won't be appearing on highway billboards anytime soon. All are pursuing the kind of niche strategies that fashion watchers argue is the key to longevity in today's market. That's fine--the mall was already way too crowded...
Amazon, once criticized as a bookseller that would never show a profit, turns out to have used its online book business as a template for forays into music, drugs, pets and, this week, online auctions, perhaps the hottest area on the Web. Maybe its $28 billion market cap isn't so wacky if Amazon becomes the world's first online department store...