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When a retailer chooses a location for a physical store, they research the neighborhood, its traffic volume, and the demographics of the people who live and work nearby.

You use the same process to open a store online.

In this video, you will create a list of pros and cons for the online marketplaces in your brainstorming document.

This will help you choose the right one.

Then, you will create a table of contents in your document, so you can quickly navigate to the information you need.

First, return to your brainstorming document, and review the articles you found earlier.

Note the positive and negative aspects of each site, as related to your product or service.

Then, under the name of the first marketplace website, start your list of pros and cons.

Change the style to a heading.

Add the Pros.

These will differ from site to site.

In this example, this website has a large online presence, gains new customers easily, and enables people to compare and contrast similar products.

Use bullets to see each “pro” clearly.

Your research will also reveal the Cons of using the online marketplace.

In this case, that includes various fees, limited branding opportunities, and minimal customer support Then, format the Cons as bullets.

Also, note any special resources this website offers to make it easier for you to sell your product or service.

Repeat these steps until you have three pros and three cons for each of the online marketplaces.

Finish your list by considering the option of starting your own website.

As with online marketplaces, this option has pros and cons.

Organize your document to make it easier to reference going forward.

Insert a table of contents at the top of the page.

Each heading appears as a link.

Click on a link to jump to that section of your brainstorming document.

Carefully consider each option.

Then, select the one that’s right for you.

The best online location for your business is the one that fits your needs and allows your customers to easily find your products or services.

Now, it’s your turn: Record at least three pros and three cons for each website on your list.

Note any special resources the websites offer.

Consider if you should make your own website.

And choose your online marketplace.

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Instructions
  1. Record at least three pros and three cons for each website on your list.
  2. Note any special resources the websites offer.
  3. Consider if you should make your own website.
  4. Choose your online marketplace.