Skip to main content

What is your platform strategy?


 

An Internet platforms becomes more and more popular. Marketplace on the Internet becomes very competitive. Unfortunately, many business ideas for an Internet platforms aren't original in my opinion. Their founders imitate an existing ideas. A platform strategy should be and original. In order to enter a market you need an analysis. What is your business will be about? Who will your customers be? 

 In traditional competitive strategy, it is generally assumed that customers can determine their willingness to pay for the product or service independently. Although, it is not always the case. This is why the formulation of a platform strategy requires a good deal of imagination,data and analysis to help platform entrepreneurs and managers tackle the challenges of value creation and value capture.

Also your platform strategy is very important. As more critical to success as the idea behind the platform itself. When you create a strategy always ask yourself what is you business about? Be bold and original. Don't try to copycat an existing platforms. How will your business help your customers?  

Building a platform after a few huge successes (Amazon, eBay, Uber, Airbnb), is really, really hard. A great business strategy will answer two key questions: How will you attract customers? And how will you make your technology the core of an ecosystem?

Comments

Popular posts from this blog

Why segmentation is important in marketing and how small businesses can afford R&D of segmentation?

  We all know that a company's success is based on two components: operational and marketing. One can't function without another. There are many examples when great innovative companies that have been destroyed without effective marketing.  Many companies don't have an effective marketing strategy, because companies think that their invention will be sold by itself. In fact, marketing strategy is very important and should be based on careful research and analysis. How can a company conduct R&D? What information can be used for marketing segmentation?  The most popular approach is to find demographics and geographic data. We can add also firmographics (information about industry and company), and psychographics( information about customers' motives to buy). Data on demographics, geographic, and firmographics aren't that difficult to find in the Internet Era. Although, psychographics are the most important. According to Thomas V. Bonoma and Benson P. Shapiro's...

How to choose your management style?

  I have been a professional manager all my life, and it is a very demanding and stressful job. You are between a rock and a hard place every day. From one side, you need to run a business efficiently and smoothly. On the other hand, you must deal with employees' personalities and personal problems. Originally I am from the old Soviet Union, and in my home country manager should be demanding and always in control. When a manager compromises on something with his subordinates, this signifies the weakness of an authoritarian management style. It mirrors how authorities run the whole country. Many years ago, I found a job at Dunkin Donuts. It was my first job in America, and I worked hard. In about a year or so, I became a store manager. Of course, I knew only one style of management. I became a control freak and confronted my subordinates about anything I considered a violation of Dunkin Donuts standards. Plus, I tried to purge a system of thievery in my store. I started to suspect s...

My thoughts on business forecasting

A business enterprise needs to forecast the demand for its products or services. What can businesses do to predict the future sale or order of supplies? You can build statistical models or use your judgment. For the majority of business owners, a daily routine is quite complicated. A business owner sometimes doesn't have time to build a statistical model. A business mustn't run out of supplies or be understaffed. You can't let your clients or customers down. Big corporations can afford to hire consulting firms to do forecasting for them. Although, even the most sophisticated forecasting models don't give any assurances. So, what is the solution then? Any forecast has some flows. Political, economic, or weather problems can affect it. I think small business owners have an advantage in forecasting. Why? A small business owner is involved with business regularly. That gives an advantage in comparison with big corporations. A daily sales volume gives an idea about stuffing...