What is Marketplace ?

An online marketplace refers to an online platform where buyers and sellers initiate or conduct transactions. The appeal of such a marketplace model is that it can create efficiency in an otherwise inefficient market.

 

Markets (electronic or otherwise) have three main functions:

1. Matching buyers and sellers;


2. Facilitating the exchange of information, goods, services, and payments associated with market transactions; and


3. Providing an institutional infrastructure, such as a legal and regulatory framework, which enables the efficient functioning of the market.

Electronic marketplaces (e-marketplaces or market spaces), changed several of the processes used in trading and supply chains

• Greater information richness


• Lower information search costs for buyers


• Diminished information asymmetry between sellers and buyers


• Greater temporal separation between time of purchase and time of possession


• Buy now, receive later


• Greater temporal proximity between time of purchase and time of possession


• Buy now, receive almost instantly


• Ability of buyers and sellers to be in different locations

In E-marketplace, people buy and sell physical products online.

Types of e-Marketplaces

1. 
   

   e-Marketplaces for B2C:

• storefronts and Internet malls

2. 
   

   e-Marketplaces for B2B:

• Private e-marketplaces (Online markets owned by a single company; may be either sell-side or buy-side e-marketplaces. sell-side e-marketplace: a private e-marketplace in which a company sells either standard or customized products to qualified companies. buy-side e-marketplace: A private e-marketplace in which a company makes purchases from invited suppliers.)


• Public e-marketplaces. B2B marketplaces, usually owned and/or managed by an independent third party, that include many sellers and many buyers; also known as exchanges.

Basics

We arm Marketplace with the strategy and the infrastructure to put our plan in action.

Create a five-year action plan, with short, medium, and long-term implementation tactics.

To map how and when Marketplace should invest in its most promising opportunities.

Complete with specific owners, working rhythms, change management processes.

Moments for reflection, our action plan was design to empower Marketplace. To take ownership over its growth plan and set it in motion.