Why depth matters in digital marketplaces

  Last week I used Openbay—a relatively new marketplace for auto maintenance—to research coolant system service. Within a couple hours I had over a dozen offers from feedback-rated auto shops with prices between $50 and $140. Whether I chose to accept those offers or not, my experience was directly linked to those suppliers. More specifically,…
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Marketplaces on the internet

Underlying some of the internet age’s most prominent success stories are marketplaces. These range from actual marketplaces like Uber—platforms that bring together previously disconnected supply and demand audiences—to business models that leverage markets to increase efficiency. From a business and venture perspective, marketplaces capture the imagination both rationally and emotionally. In this series of posts we…
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Price is what you pay, value is what you get

Classic Ben Graham quote, by way of Warren Buffett. ConversionXL walks through this concept, hitting on several challenges of effective pricing strategy: Asking people what they’d pay for and how much rarely works. For one thing people will tell you what they WANT to pay—which is obviously much less than what your product or service is actually…
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