Marketplace is an online service or interface where a buyer and a seller of a particular product or goods come together to buy, sell, rent any goods or product. The products can include property, grocery, clothing etc. The marketplace has an ability to handle multi-vendor model of e-commerce thus making it more reliable, easy and seamless.
Few types of market places commonly seen are e-commerce, M-commerce, customer to customer, business to customer, peer to peer, crowdfunding and business to customer. These are classified on the bases of the people dealing with. The marketplace can also be classified according to the type of customer it attracts as the people marketplace (people interact with each other for expert advices and work), project marketplace (people contribute and collaborate with each other), place marketplace (To buy, sell or rent places) Product marketplace (selling and buying of products),
A marketplace software helps in managing and launching any application marketplace. It can have many features including customizable branding, recommendation engine, search tool, billing, product provisioning, management tools and identity and access management.
The marketplace software can either be a standalone platform or can be a part of a larger marketplace. The cloud-based marketplace software is becoming more famous and reliable as it is cost effective and is flexible. With the advancement in technology and people dependent on technology, a number of marketplaces have come into existence. The marketplace software provides e-commerce services that can be browsed and managed through smartphones. Some of the common market places include the product-based marketplace and property-based marketplaces.
Even though marketplace technology has a lot to offer, it is really important to identify ones need and a provider that can meet all the need to make a successful marketplace that has all the functionalities and features desired. Some of the points to keep in mind while choosing a provider are:
- The provider should be able to offer purpose-built billing for the marketplace.
- They should be able to incorporate latest technology.
A marketplace should be SEO friendly, should provide technical support, an eye-catching front, secure hosting tools, analytical tools and a safe payment gateway.
One of the websites offering high-end marketplace software is Auctionsoftware.com. They can build a high-end multi-vendor marketplace within three weeks. Marketplaces have gained importance and become successful because of its ease to use, the need for not having a middle man, no wait and provides a safe environment. Therefore, it is important to identify ones need and select the right provider to start a successful marketplace.