1. A business model is firm’s plan for how it creates, delivers and captures value for its
stakeholders. The core strategy includes four main parts: business mission, basis of
differentiation, target customers and produce market/product scope. Etsy’s mission is
to “re-imagine commerce in ways that build a more fulfilling and lasting world”. This
company gives opportunities for people to validate their artificial items. By the way, this
platform is suitable, profitable and fitting for people who wants to demonstrate their
skills, goods, or just buy any handmade souvenirs. As Dickerson said, “At the end of each
transaction you get something real from a real person”. Thus, the customers of websites
increases. I think the cause is that the buyers want something real, unique, artificial,
something that has a story and purpose.
2. A disruptive business model is not normal and does not fit the profile of a standard
business model. Etsy is different from other websites. It only sells handmade items,
because they noticed that this business idea would be attractive, new and innovative,
they do not have competitors, so we can say that they have a blue ocean strategy. Thus,
I think that they developed a disruptive business model as the foundation for launching
their firm.
3. Many businesses have online websites that are easy to navigate. Such companies are
“Amazon”, “eBay”, “Overstock”, “Zappos”, etc. Etsy is one of them and navigate here is
not hard. Differentiate among these companies and Etsy is that Etsy has excelled at
helping its sellers increase sales via different events. Also, each of them has its own Etsy
store, by the way they show to people this company broadly and it helps website to be
different and grow so quickly. Etsy’s platform is designed to help people to see, choose,
buy, demonstrate their skills and sell handmade goods. To buy on its platform, a
customer can either use the search bar or browse through a list of categories of
different types of handmade items. Customers also can see reviews from past buyers
and then make a decision. Etsy is a website that only sells artificial items and people can