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Company : Trade2Gain.com 
Wednesday, November 22, 2000 10:27AM IST (4:57AM GMT)
 
MICO FORAYS INTO E-COMMERCE WITH TRADE2GAIN.COM
Announces a series of weekly auctions for disposal of Fuel Injection Equipment Spares
 
New Delhi, Delhi, India

Trade2Gain.com, India's leading Business-to-Business Exchange, has announced the successful execution of an online auction deal for MICO, India's leading Industrial Corporation. This has marked MICO's entry into the world of e-commerce and e-revenues and will be a continuous process with MICO holding a set of auctions every week on Trade2Gain.com.

The auction for MICO was conducted in a "Private Marketplace" environment, a unique service offering from Trade2Gain.com. This service enables users to set up their own exclusive marketplace, consisting of channel partners, distributors, resellers, agents, preferred customers, suppliers etc. The advantage of this is that the customer has complete control on the bidding process and the buyers stand by their bids. Sellers get the best price from the highest bidder for their products from within a group of pre-qualified members.

Two types of auctions for disposal of fuel injection equipment spares were conducted namely, Fixed Price Auctions and Dynamic Price Auctions. The bidders were 83 MICO distributors across the country. The auctions were a unique combination of on-line and off-line activities. Various marketing initiatives such as direct mailers helped in bringing all the distributors together on this unique trading platform.

Subroto Banerjee, President, Trade2Gain.com, said, "The successful execution of the MICO auction has again proved the viability of conducting auctions on Trade2Gain.com. This has been further validated by the fact that MICO will be conducting a series of weekly auctions on the Trade2Gain platform. Short turnaround periods, ability to focus on target audience, quick responses, low costs and less hassle make this a unique way of conducting business." 

Mr. Kushal Hegde, Managing Director, Kushal Motors who was a successful bidder on Trade2Gain.com said, "The bidding process on Trade2Gain was very easy and user-friendly. The fact that bidding was open only to preferred MICO dealers also added to the comfort level and the unique combination of on-line and off-line auctions helped in making the right purchase decisions."

MICO
MICO is a member of the Bosch Group, Germany. Founded in 1951, MICO pioneered the manufacture of automotive spark plugs and diesel fuel injection equipment in India. Access to the international technology of Bosch in India with a conscious commitment to quality of its more than 11000 employees has made MICO the largest manufacturer of diesel fuel injection equipment in the country and one of the world's largest. In addition, MICO manufactures industrial equipment, auto-electricals, hydraulics for industrial equipment and tractor applications, electric power tools, packaging machines and Blaupunkt car audio systems. 

Trade2Gain.com
Trade2Gain.com, India's first business-to-business (B2B) e-commerce marketplace, was founded in October 1999 with a mission to provide secure e-commerce platform for buyers and sellers to trade in a dynamic and competitive environment enabling better realization and savings on time and costs. The marketplace ensures that buyers acquire goods at a competitive price and sellers get the right value for their goods. It offers a comprehensive range of services, which includes Standard Auctions, Fixed Price Auctions, Procurement Auctions, Company Showcase, Product Showcase and Classifieds. 

For more information visit http://www.trade2gain.com

 
Media Contact Details
Pushpa Nair, pushpa@business2media.com, +91-11-3326022
Pushpa Nair, pushpa@business2media.com, +91-11-3326022
 
 
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