Joshua Kirsten
A good business strategy should be able to illustrate the three main winning elements, which are a competitive advantage, the goodness of fit, and performance test. The use of an online payment platform such as PayPal matches the needs of the eBay. However, although this payment system is widely used in first world countries, it is not properly established in most developing economies, which currently have a wide population of the middle class. Therefore, the company should adopt other payment platforms that are used in most of these economies. StubHub has presented eBay with an innovative system that has enabled it to tap into the huge market in the entertainment industry. Specifically, this has boosted the company’s performance. Further, the use of a competitive bidding strategy has given eBay an edge over its competitors. Moreover, it has enabled sellers to trade their products at the highest possible prices. Going forward, the company should find ways of venturing into new international markets that have a huge potential. Therefore, although the company is profitable it has not fully exhausted the opportunities available in online shopping.
Lindsay Tackett
The eBay innovative use and adoption of technology has enabled it to easily fit in the online shopping market. This method has ensured that it is relevant and competitive. The introduction of various services such as StubHub, green initiatives, and eBay classified have enabled the company to offer a wide variety of services, which are essential to its customers. Moreover, the green initiative has enabled the company to attract customers who are environmental conscience. Further, the competitive bidding strategy has differentiated the company from its competitors and made it more competitive. This method has given the company an edge over its main competitors and has resulted in the company’s high performance. Although these strategies have boosted the company’s performance, its competitors can easily duplicate them. Therefore, the company should constantly adopt and implement new and unique strategies to attract more traders to its platform. Through this method, the company will be able to ensure that it remains competitive in the future.
Starla Tuck
eBay business strategies of constantly adopting technology to offer high-quality services have enabled it to remain competitive. However, with increased competition, the company should adopt new and creative strategies. The business should diversify its market by introducing a business-to-business platform, which will enable it to tap into this market. Nevertheless, the company’s current business strategy of green initiatives has enabled it to attract environmental conscious buyers. This tactic has given it an edge over most of its competitors. Moreover, the company’s bidding strategy has enabled it to attract many buyers by enabling them to acquire commodities at the most competitive prices. However, although the company is still profitable, it should adopt and develop new innovative strategies, which cannot be duplicated by its competitors. Further, it should adopt ways of having a strong foothold in markets such as Asia, Europe, and Africa, where most of its competitors operate. Noteworthy, Asia and Africa have been enjoying a steady economic progress. Therefore, they will present eBay with a huge market. In order to achieve this, eBay should establish payment systems that are mostly used in these regions, as well as understand the culture and behavior of individuals in these regions. Through this method, eBay will be able to remain competitive in future.