CONTEMPORARY MARKETING STRATEGIES MARKETPLACES

Abstract

The increasing popularity of marketplaces for e-commerce and the spread of third-party product or service information necessitate sellers to use specialized marketing strategies. Therefore, the article is aimed at characterizing modern marketing strategies on marketplaces. As part of the study, emphasis is placed on the observation that marketplaces serve as platforms where a multitude of similar goods (even within the same product category) are offered by different sellers (including the marketplace itself and third-party sellers), with buyers already inclined towards making a purchase. Indeed, it is pointed out that leveraging marketplaces for trading remains ineffective until sellers can generate adequate demand for their own products. It has been shown that on marketplaces, sellers do not need to invest in platform advertising (to attract potential customers to it). However, these sellers still require effective marketing strategies to capture the attention of buyers towards their brand, products, and services, in order to boost sales and improve customer satisfaction. Indeed, the strategies for personalizing sellers' offers on marketplaces rely on the utilization of algorithms and analytics to craft tailored proposals and recommendations for each user. Sales strategies rely on systematic data collection and analysis to enhance the sales process and increase visitor conversions into buyers. Partnership programs and influencer marketing strategies focus on promoting products and attracting new customers to marketplaces through partnerships with influential individuals and other brands. Indeed, strategies for showcasing a seller's offerings on marketplaces rely heavily on utilizing video content. Strategies for optimizing consumer search on marketplaces involve ongoing refinement of algorithms to ensure the accuracy and relevance of search results. Absolutely, marketing strategies on marketplaces, whether emphasizing per sonalization, analytics, conversion optimization, partnership programs, influencer marketing, visual presentation, or consumer search optimization, all share the common goal of boosting the competitiveness of sellers' offerings and meeting the needs of consumers.