Ad bargains is basically a company which acts like an exchange for advertising media between the advertising agencies (the seller) & Different firms (buyer). The seller gets the benefit that Adbargains provide a platform for them to sell their unsold inventory and it is a source of increasing their sales and revenues.
From the buyer side, Adbargains offers buyers the platform to buy with the variety of sellers, within little time and space and at a reasonable price. Buyer search for their needs and adjust the price accordingly. In my opinion Adbargains is a very effective tool for the advertising agencies and firms. In such a fast moving era, every person/ firm wants to save their time and money and want to gets maximum from his precious time.
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Adbargains not only provide the platform to search and buy or sell but it also convenient and reliable source of buying media products with huge variety and reasonable price. I am of the opinion that the online media brokerage is a great invention and feasible option for the person/ firm who wants to curtail their costs and precious time in search of best seller.
1.What is Adbargains.com competitive advantage in the marketplace?
The competitive advantage the Adbargains enjoys is that it provides remnant advertising with the affordable price with professional media buying process. The company. The buyers have the option to search even by market option or media option. Where as in the market place there were few competitors, but they failed to compete because of their huge capital investments, with low media commission and higher rate of breakeven. The competitive advantage brings Adbargains an option to increase the rate of their commission as there is not remnant of media market space.
3. What competencies allow Adbargains.com its competitive advantage?
The major competencies of Adbargains are that it is the only remnant media market space available for the buyers and suppliers. The company allows its customers to have a minimum paper processing and give them an opportunity to save their time and money. Another competent feature of Adbargains is it serves to buyers an option to explore the opportunities free of costs and with various options as like market or media. It gives a professional media buying process which other companies failed to do so.
4. Using Porter’s Five-Force Model to structure your answer; describe the market conditions currently facing Adbargains.com.
Reviewing, the current market conditions the Adbargains faces with the element of Porter’s five forces model, I am of the opinion that the Adbargains enjoy the strongest market position as there is so far no new entrant in this industry with such a strong base. The company has different types of buyers. The large advertising agencies and media buying clients have a sense of sophistication in the buying process and act in a descent way to purchase a product. On the other side the small firm buyers are less sophisticated.
The bargaining power of suppliers does not effect much as the suppliers understand well that there is a huge market and the consumer has variety of option. So the company faces no threats in terms of bargaining position of buyers and sellers. The company has a no threat of substitute product offered in the market as many competitors are bankrupt now. The company enjoys a strong competitive edge with their unique marketing skills. However the company needs to improve and expand the quality of services offered with exquisite features.
5. Describe and discuss Adbargains.com role in the value chain.
The Adbargains has different types of customers with different buying patterns. The large advertising agencies, media buying clients buy in a sophisticated manner. The company offers a link of their website with their in house software so that they can be facilitated as much as possible. The company further offers value chain to its small business entrepreneurs as their buying patterns are less sophisticated. The company offers them to buy fire sale prices so that they can get maximum from their limited sources. In my opinion the company serves to its best to different buyers class and patterns so that they will be satisfied with the Adbargains services. However the company can act like a negotiator and can give consultancy services to the small business entrepreneurs in buying option. And can charge additional for this service.
6. Using a SWOT analysis framework, research and describe the situation facing Adbargains.
The Adbargains enjoys a strong position in the industry because of its superior quality of service and a vast list of buyers and sellers. The greatest strength of the Adbargains is that it is the only company which offers remnant media market space. And it offers a huge list of buyers and sellers so that the customers can get maximum from the Adbargains site. This leads to huge market opportunities for Adbargains and they can expand in other areas as they have gain a good repute in sense of media brokerage house. However, the weakness of Adbargains is though it provides a classic service package to the large customers but it fails to offer quality services to its small customers. In fact this is the biggest threat to the company as it can loose it customers in this regard. The company should focus on introducing and refining their current serving strategy for small customers.
7. Critically evaluate the current marketing plan as described in the business plan.
The business plan of the Adbargains focuses on only two things to attract the clients and to have a PR relationship with many advertising and media agencies and other clients. But the business has not only to do with generating high revenue. Only those companies excel which belief in gaining Goodwill and Everyday starts with innovation and something new to be offered to the clients. The Adbargains fails to offer anything new and their current marketing strategy revolves around the large clients.
8. After researching current industry conditions, revise the e-business plan. You may make any reasonable assumptions in your introduction to the new plan – such as access to venture capital.
In my opinion the Adbargains can do much more instead of sticking to the media brokerage house. The company has gained a strong market position however the company can offer to its clients a variety of services and replace the sticker of Media brokerage from their name. For instance the company can act like a Business Consultancy Brokerage House. Just like media brokerage house, the company offers to its buyers and seller a huge lists of consultancy business firms and Business concern who needs to purchase the products to get best advice from the clients in their different situations.
Apart from it Adbargains can improve its customer relationship strategy. No doubt large customers are the key to success but every customer is an asset for the company. And if the company concentrate much on serving its small business clients by offering them consultancy services and act like a negotiator between the clients and the seller so that the small customer gets a value service from the Adbargains.
In my opinion the success of every business plan lies with its strategy and unique idea. In this fast and innovative era, customers needs every day something new and exciting to be consumed. The key is to retain the unique characteristics with the Exclusive Clients Services as they are precious to the company. The company not only gains GOODWILL but also enjoys BLOOMS OF HIGH YIELDS.
Joseph A. Covello,& Brian J. Hazelgren, “A COMPLETE BOOK OF BUSINESS PLANS” Published by: Source Books Trade. 1994.