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DIGITAL MARKETING ADVANCED > TOPIC 1.2 Online Market place > Flashcards

TOPIC 1.2 Online Market place Flashcards

(46 cards)

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1
Q

an online marketplace is a

A

platform where sellers come together to offer their products

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2
Q

usually the platform receives a

A

commission

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3
Q

marketplaces exist for all sectors,

A

B2C and B2B

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4
Q

Sellers can be professionals but also

A

individuals like market place on facebook

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5
Q

brands dare betting on this because of the

A

revenue potential

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6
Q

advantages of a market place

A

visibility and awareness / sales volume
logistics and technology

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7
Q

visibility and awareness / sales volume

A

market places invest heavily in digital marketing and advertising and usually have a good reputation
as a seller on a marketplace, you benefit from the visibility and traffic the platform has
having access to so many potential customers offers huge sales potential sometimes even internationally without the need for a financial investment

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8
Q

logistics and technology

A

some platforms offer high tech and or integrated solutions for inventory management, invoicing, synchronisation of flows and logistics
vendors can take advantage of these without having to make the major investment themselves

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9
Q

disadvantages of a marketplace

A

competition= no differentiation - pure price
customers = no loyalty, marketplace customers
cost price

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10
Q

Summary= webshop advantages

A

own brand experience
ownership database customers
direct contact customers
higher margins
easy transfer to marketplace

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11
Q

Webshop disadvantages

A

technical impact
cost price
time

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12
Q

Summary

Marketplace advantages

A

simple
marketing
export
service

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13
Q

Summary

Disadvantages marketplace

A

depending on price comparison
Commission

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14
Q

the largest international marketplaces in europe

A

Aliexpress
etsy
amazon
ebay
discogs
OLX
bandcamp
uber eats
temu
vinted

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15
Q

large exitsing shops are also increasingly transforming their platform into a market place

A

decathlon and mediamarkt

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16
Q

Open market place

A

anyone can sign up as a seller, sometimes they can even be private individuals

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17
Q

closed marketplace

A

a screening and selection procedure takes place before a new. seller is admitted. For example price level is taken into account, wether the offer is complementary/ innovative/not cannibalising compared to the already admitted sellers, whether you yourself own a certain brand

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18
Q

vertical or niche market places

A

sell products within a specific area or niche

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19
Q

in horizontal or also called generic marketplaces

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A

or all in one marketplaces
different brands or retailers sell their products or services from various categories
this is similar to an online department store

20
Q

B2B marketplaces

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A

exclusive for companies

21
Q

B2C marketplaces

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A

intended for the consumer market

22
Q

C2C or peer to peer

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A

consumers offer each other products through an e commerce platform

23
Q

another high impact trend

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A

service marketplaces such as uber
- service platforms are becoming increasingly popular
think of platforms for selling digital products like cloud solutions, booking a sports class oro finding a pet sitter

24
Q

how does a market place work

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A

you can create product pages there or sign up as a seller for existing products
you can upload your products manually or automatically

25
You need to think about a lot of things if you want to sell on marketplaces
which business model do you choose how do you organize your inventory management How do you get seen on a marketplace
26
To market place or not to market place? Should i?
is it your own brand, or not a lot of competition? or not
27
# think about marketplace A. Business model
direct? through vendor through more steps
28
# Think about market place B. Logistics
take care of the logistics yourself leaving the logistics to the marketplace work with a fulfilment party
29
# think about marketplace C. cost price
accurately calculate in advance the cost of selling through a marketplace almost all marketplaces work with a commission you only have to pay if your product is sold
30
many marketplaces work with a combination of fixed and flexible commission
the fixed commissions is a fixed amount per transaction, the flexible commission is a % on sales but even the fixed commission sometimes varies
31
in addition to the marketplace commission, there are costs such as
logistics shipping returns in other words it takes quite a calculation to know how much you earn on a product
32
D. Visibility 3 main aspects
marketplace Optimisation organic visbility marketplace advertising Product ads in a marketplace marketing campaign
33
Market place optimisation
like google, marketplaces use algorithms to determine how relevant a product is to the buyer It therefore comes down to optimizing your product presence to rank high in the marketplace rankings
34
keyword research MPO
title and content tag optimization product description and image optimization
35
# MPO keyword research some tips
1. start with keyword research 2. match the product title with the serach results of potential buyers 3. keep in mind the maximum length in characters applicable to a specific marketplace 4. place the most relevant and meaningful info at the beginning of the title
36
product information tips for MPO
Clear, well-formatted descriptions boost sales and reduce returns. Use specs, use-cases, bold text, bullet points, and title keywords. Avoid ALL CAPS, promos, personal info, and URLs.
37
market place advertising MPA
1. Bid on ad space for your products in an auction. 2. The algorithm evaluates relevance, keywords, page context, your bid, and price. 3. Highest bid doesn't guarantee visibility if the ad is not relevant. 4. You set a max CPC (cost-per-click) or choose automatic bidding for better conversion optimization. 5. Sponsored Products use a CPC (cost-per-click) model.
38
integration with own webshop and ERP systems
order linking keeps stock up to date and reassures automatic order processing
39
autmation can help in several areas of webshops
help with uploading and updatting products with correct images, description, price repricing: the price is continously and automatically adjusted based on the price of competitors and the buying block. This way you always offer the best price. The repricer takes in to account the margins tha have been set performance tracking
40
# Dropshipping important to know about dropshipping
No stock dropshipper focuses on getting orders in legal
41
advantages of dropshipping
little start up capital needed no inventory management idea testing
42
disadvantages of dropshipping
poor reputation (many scammers) lots of supply - low margins liability: that lies 100% with the seller
43
consumer disadvantages dropshipping
longer delivery times possible import costs potentially high return costs quality and safety not always certain liability discussions unconscious non local consumption
44
do’s in dropshipping
kiss principle - not too many bells and whistles in a first phase - solid simple solution - keep costs down find a niche market personalisation or private label conduct your own quality tests make sure your return process is in a contract with suppliers
45
donts in dropshipping
NEVER USE PANDABUY
46
CLEAR EXPLANATION OF DROPSHIPPING
creating a webshop to sell products that you do not have in stock, using photos and descriptions of products that are sold on another website (mostly aliexpress) and demonstrating it on your website. then buying the product from the other website as soon as a customer buys that product from your website and you will send the product straight to your customer, here’s a picture to show you

DIGITAL MARKETING ADVANCED (10 decks)

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