Please WaitISYS2110: Internet for Business - Week 5
start up company
ISYS2110.Internet for Business > Week 5
Hello, Nelson Leung, my team is doing a business plan on a start up company. Our company 's business is to provide the site where people (Ex: Vietnamnese and foreigners) can come to search for the suitable transportation tickets (transport by car s, bus or train) with the best price. We will provide the searching as well as the comparing function where the visitors can come and look up the price between different transportation company (such as Phuong Trang, Mai Linh) and they can also buy the ticket online on our site. We will in turn earn the commission on each ticket we sold. I have 2 questions regarding this business: 1) what are our products or services? ( Is it the comparision services we provide on the site or is it the transportation ticket itself? 2) Who are our competitiors? because we couldnt find any company doing the same things as us? (is it possible that we do not have competitors?
Answer:
1) An commercial organization can provide products and services at the same time e.g. in RMIT, the primary business nature is to provide education service but at the same time RMIT also sells products like coffee mugs (with RMIT logo), Raincoat and so on. The same also happens in hair salon. 2) You don't need to to find competitors that offer exactly the same service and product as your organization. Instead you can find competitors that offer product/service that are similar to your organization. Let's use your business as an example. Your company offers online bus, train and car booking services, then probably website like these are your competitors: http://www.vietnamrailways.com/?clid=CKDi8J7jq7ECFcZV4god4wUA1g http://vinasuntravel.com/modules/car.php?l=1 Your website also offer comparison services, then you may consider https://www.roadhop.com/ as one of your competitors.
benchmark in marketplace analysis
ISYS2110.Internet for Business > Week 5
I would like to ask you about the benchmark in marketplace analysis. Could you provide me some information? What I should include in that? Thank you.
Answer:
That means when you are doing competitor analysis, the benchmarks (used to evaluate your competitors) need to be identified from your industry sector's best practice. You also require to look beyond its industry sector at what leading companies such as Amazon are doing. For example, a company in the financial services industry could look at google and yahoo to see if there are any lessons to learn on ways to make information pro-vision easier.
