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1508 posts

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  #1472086 15-Jan-2016 16:50
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Probably need to exploit parts of what trademe do and just outperform them in one area. I could easily see someone coming up with a better house sales platform or car sales platform etc than trademe. If it was better, smarter, more focused and provided more than just a billboard for listing things, it could probably take a fair bit of traffic away from trademe.




Try Vultr using this link and get us both some credit:

 

http://www.vultr.com/?ref=7033587-3B


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Master Geek


  #1472089 15-Jan-2016 16:52
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Trouble with taking on Trade Me is that its a classic "winner take all" style of business. People selling will want the most number of hits, people buying go to where there is the biggest selection. Its almost impossible to take it on once established.
The only hope is for people en masse to get fed up with higher TM charges and stop trading with them, then the door would be slightly ajar for an incumbent with deep pockets and patience to ride it out with cheaper fees.




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  #1472098 15-Jan-2016 17:06
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TO succeed in business, you need right product, right place, right time.

When TM raised fees astronomically, this creates the right time.

Someone with the right product in the right place will succeed.




Involuntary autocorrect in operation on mobile device. Apologies in advance.


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  #1472102 15-Jan-2016 17:18
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It needs to be different. You cannot take on TradeMe by being exactly like TradeMe.

The issue is that TradeMe has a large user base. So sellers will continue to go there as they are more likely to get higher bids or even any bids.

So what can you do differently well lower prices is one.
However this is likely to kill you and still not bring in the sellers as even though the price is higher on trademe the eyes are there. Thus the viscous circle(No Sellers = No Buyers, No Buyers = No Sellers) kills you off.

So what does that leave. Not a lot. You could add features, better layout and listen to customers requests but at the end its a race to the bottom of the barrel with little returns and a lot of risk.

Most of what TradeMe is today is low value items that people just want gone or if they are an established store more expensive than buying on there own site due to the fees.






Geoff E


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  #1472105 15-Jan-2016 17:20
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joker97: TO succeed in business, you need right product, right place, right time.

When TM raised fees astronomically, this creates the right time.

Someone with the right product in the right place will succeed.


Add to this " you need right product, right place, right time." these.... right skills, available capital, right business plan




Mike

 

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The views stated in my posts are my personal views and not that of any other organisation.

 

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  #1473213 17-Jan-2016 15:49
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sdavisnz: yea i think we have to look at the big guns like amazon and ebay and could petition them to open up shop in New Zealand.

 

eBay had a presence in NZ once. They were too late - Trademe already had critical mass and crushed them out of the market.

 

It's obvious what a competitor needs to take on Trademe: 100% of the shares in TME.

 

 

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  #1473235 17-Jan-2016 16:02
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What Does a Competitor Site Need To Seriously Take on Trademe?

 

Um, a catchy slogan?

 
 
 
 


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  #1473250 17-Jan-2016 16:15
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Buyer and Seller protection.





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  #1473306 17-Jan-2016 18:05
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sbiddle: 

What do you actually use Trademe for?


   

 

 

 

Selling.




Sometimes I just sit and think. Other times I just sit.


607 posts

Ultimate Geek


  #1473343 17-Jan-2016 19:26
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scottjpalmer: They need market share - to make it worth listing there, to make it worth browsing there.

 


This ^

 

I’ve always thought a possible way to take down TradeMe is to start a new site that’s on par with TM in every way, but with free listings for a while. Then create a social media campaign where all TM customers will agree to switch to the new site on a specific date.

 

In theory, you could see the majority of listings shift from one site to another in an instant.

 

Just an idea, I know it's not that simple and would take a lot of cash etc. I also agree it would probably fail : )

Mad Scientist
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  #1473378 17-Jan-2016 20:35
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There are professional listing management companies out there - get them, and you get a lot of the big sellers




Involuntary autocorrect in operation on mobile device. Apologies in advance.


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Ultimate Geek

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  #1473501 18-Jan-2016 09:29
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I'd like to see a $1 reserve auction site where every auction must be $1 reserve.  

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  #1473531 18-Jan-2016 10:00
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Kyanar:
sdavisnz: yea i think we have to look at the big guns like amazon and ebay and could petition them to open up shop in New Zealand.

eBay had a presence in NZ once. They were too late - Trademe already had critical mass and crushed them out of the market.
It's obvious what a competitor needs to take on Trademe: 100% of the shares in TME.
 


Ebay has a market cap of currently $31B USD. If they wanted to come here again they could and probably take significant share through a better online offering (buyer's protection, integrated payment and shipping etc.) But the better question is it worth their while to do it? I suspect not.




Staying in Wellington. Check out my AirBnB in the Wellington CBD.  https://www.airbnb.co.nz/rooms/32019730  Mention GZ to get a 10% discount

 

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gzt

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  #1473798 18-Jan-2016 13:52
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Will it be worth anyone's while to use it? Probably not. Already happened.

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  #1473833 18-Jan-2016 14:20
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Killerkiwi2005: This seems to be a "general" software pattern at any one time there is 1 major player, 1 compititor and minor niche players

OS Desktop - Windows, OSX, linux and others Mobile - Android, Iphone, win and others

Server - Linux, Windows, others Streaming - Netflix, Amazon, (maybe hulu?) other

Online Trading (US) - Ebay, craigslist, other Search - Google, Bing, other

If the pattern holds there's probably room for 1 other player to compete with tradme which at the moment is probably those facebook groups, any one else is unlikly to make a dent in market share (but not impossible)  
 

 

You are on the right track. It's a common occurrence among most industries. The 80/20 rule. The  period of rapid growth in the online auction industry has gone, there is a clear market leader, the market is now mature, therefore so has the opportunity to make great ROI. 

 

Since the online market industry is mature, the only way to make sales growth (besides natural population growth) in the online auction industry is to take clients off the competition (which takes a lot of marketing money) or do something disruptive i.e. start/buy something that is vastly superior/replaces the online auction industry. Like trademe did to the trade & exchange, & autotrader.   

 

Because high growth investment opportunities are limited in mature industries, e.g. utility (phone, electricity, gas), postal services, television broadcasting, etc,  companies in mature industries start to diversify, buy up the competition or buy up smaller innovative companies that could become the next disruptive technology.  

 

With reference to the diagrams below, Sam Morgan built Trademe into a Star Business. Fairfax bought that star business a few years before it became a cash cow. Trademe is now a cash cow, but with little investment opportunity in its industry, hence the diversification to insurance. So if the market leader is now having to diversify, it wouldn't make business sense for a newbie to compete directly with Trademe in its own territory, as it would cost a lot of money to buy new customers off Trademe (via marketing) with little upside. A new competitor would be better off finding another industry or get involved in the replacement to the online auction industry (whatever that will be). 

 

   

 

http://study.com/academy/lesson/cash-cow-in-marketing-definition-matrix-examples.html

 

and

 

         

 

https://mymarketingcloud.wordpress.com/the-marketing-environment/portfolio-analysis-boston-matrix/

 

 

 

Read The Star Principle by Richard Koch for more insights, google BCG matrix, or simply go to wikipedia https://en.wikipedia.org/wiki/Growth%E2%80%93share_matrix

 

The above charts, by the way, are fantastic career guidance too, if money and career opportunity are your objectives.

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