Comparing and Selecting Providers

People use the internet to compare and select providers which suit them the best with various businesses and companies being the provider. The way in which the price transparency comes in to this topic is by customers being able to have the access to important information. Normally the information will show how much stock is available to buy and, if it’s possible to bid for the good, what the bidding price levels are. (http://www.investopedia.com/terms/p/pricetransparency.asp)


The reasoning as to why people go through the process of comparing then selecting providers is so that they don't reach the conclusion where they haven't done enough research and then they realise that there is a better provider to the one in which they have selected. This can often be the case especially in the likes of e-commerce sites, like eBay, because there can be the option to bid for the good but only if the seller has opted for it. In other words, when a customer is looking for a good via a type of site like eBay, it can be very important for the customer to be able to see what the price transparency is, such as what prices people are wanting to spend, which enables the person to only pay what they want to spend rather than a fixed price. This link

(http://www.ebay.co.uk/itm/BLUETOOTH-WIRELESS-MINI-PORTABLE-SPEAKER-SPEAKERS-FOR-IPHONE-IPAD-MP3-Rechargble-/300939455562?pt=UK_MP3_Player_Accessories_AudioDocks_Speakers&hash=item461163ac4a)

shows the e-commerce site of eBay with the biddings for a product of a wireless Bluetooth speaker. From the information from the price transparency of this particular product, it is known that eighteen have been sold within the last hour, there are more than ten available to buy, the quality is new and 10,506 have already been bought.

Benefits
In addition to the factor that by comparing and selecting providers with the use of price transparency, people are able to choose the right provider for themselves as well as only really paying the amount they want to spend which can be achieved by searching the different providers and options available to them. Another benefit for customers is that by comparing products, they are able to see the various prices of what they are looking for by the different providers which gives them the opportunity to see which would be the best value for money.