Should You Enter the Market? The Ticketmaster Example
In this stage, you need to decide whether to start your online business or not.
The initial answer is that if the market is large enough and numerous companies are working there, why shouldn’t you enter such a market?
Some markets are so extensive that there is still capacity no matter how many more suppliers come in.
For example, the market for holding event is extensive, and many events are held every year. Therefore, you can design a comprehensive and simple-touse website for selling tickets of various types of events . After that, try and make partners with event holders. In the example of selling event tickets online, you need to offer something that event holders leave your competitors or work with you, too.
The market is sometimes not in a way that you can enter it. For example, there are giants operating in there and you are not capable of competing with them.
Sometimes, you need to think about a special market which is not the market for business giants in your niche where you can provide services without any serious competition.
In the example of event tickets, Ticketmaster is a powerful website which holds a great share in the market, but other websites also enter the market and have their own business. The market for event ticket is a special market, and you need to find ways to absorb buyers according to the research you perform.
Ticketmaster entered the market when no other website had started working in this regard yet. First, they designed a suitable website, and then, they went after event venues. This website's representatives proposed to event holders, saying something like, "We modernize your system free of charge, and you can sell your tickets through our website".
Not having any competitors and selecting a proper method to enter the market, you see that your business will grow easily.