The optimizing future of market network
https://www.nfx.com/post/10-years-about-market-networks
As said in the passage, the author believes that in the past ten years, social network brings huge benefits to public’s life, and in the next ten years. market network will play import roles in people’s life. It is quite common to talk about social network such as Facebook. but what exactly is a market network. According to the passage, a market network is a great combination of the main elements of both marketplace and network by using Saas workflow software to acts around long-term project in addition to quick transaction.
Along with the definition of market network. the passage provides a convincing example–HoneyBook. This company was competed by many large venture capitals even if it was only a 35-person company in 2015. Undoubtedly, it is a superstar in all those market network companies, and it thus worthy of figuring out some important factors to become a successful market network by looking at HoneyBook. First, market network targets more complex services such as event planning and home remodels, compared to quick and simple services provided by companies such as Uber. Second, market network focuses on providing solution or serves as core tenet in those transactions that clients play huge role in it. For instance, clients may have many their own opinions about home remodel. Third, market network is able to connect many resources and let them cooperate with other which make clients accomplish their projects efficiently and also with high quality. Fourth, each customer will have their own profiles and are exposed other pleasing files which they are willing to get involved with. Fifth, it provides clients with more referrals that can bring great resources to customer’s project. Sixth, market network enables transactions finish in great velocity and with satisfaction. Seventh, based on above advantages of market network, it is capable of keeping long-term relationship with customers.
As reading through this passage, I have deeper understanding of market network and believe that it will generate great effects on future markets. Furthermore, based on comprehension of its advantages, it should bring a great amount of benefits to customers and facilitate people’s life in many aspects.