Exactly what marketplace? If I said to explain it in a few words I bet you would say it’s a place to go and buy stuff. That would be exactly right. It’s a location where goods and services are exchanged. Heading a little further, why do individuals go to a marketplace? Choice! They go since once they get there, there are choices to make, things to see, stuff to compare. Since consumers of products and services we like choices. Go to the grocery store and take a peek at the cereal aisle. Would you see one kind of cereal? Number You see many types being offered and like it or not, we love those choices.
A marketplace offers choices and there are many types of marketplaces.
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The store any type. There are also online marketplaces like when you are shopping for car insurance. That is a type of marketplace because you can choose the various businesses and compare services, prices, etc . Sites like eBay are yet another type of marketplace.
So how does the marketplace help a business? To solution this question, it’s probably better to know that as a business you can possibly be the recipient of such a marketplace or you are the one going to the marketplace. Both in cases there are advantages to market segments. Next I will explain how both scenarios help a business.
Let’s take those example of how a marketplace helps a company that is looking for services/products. For one thing, the marketplace is full of various choices each with their own pros and cons. You get to decide which best fits your needs. Secondly, whether you are online or not, a marketplace offers you these choices in one place. You don’t have to lookup all over to find any of your choices. Everything is right there for you. Convenience may be the factor here. A third benefit of the marketplace is that you can learn a lot by seeing the various choices you have. You get to learn about pricing, services provided for various prices, connect with a brandname, and make smarter choices.
Right now let’s take an example of being IN the marketplace. Suppose you are a business this is part of a market and you are therefore a part of the marketplace in one way or another. How does this help you? First, it helps you become a better brand. If you know that you are being compared with your competitors, side-by-side, then you tend to look at your brand with that a lot more clarity and importance. Secondly, you need to really think about what your market needs and wants in order to “stand out” and assist potential customers/clients for making their choice to engage with you. Lastly, being in the marketplace is a way to notice what others are doing – plus there is nothing wrong with noticing that. Just don’t copy them — do something better.
Here is a real-life sort of a marketplace for businesses looking for an IT Services provider. Gorilla-Force is a marketplace in which businesses get to choose an IT service provider to make contact with after seeing the various offerings using their search results. For the IT Services suppliers this offers them a great way to be seen, show off their brand, and see what others in their industry are doing without having searching for long periods of time.