06/06/2016
The Grand Bazaar in the Sky
About a year ago, I posted quite a few musings bout Istanbul/s Grand Bazaar, one of my favourite places in the world. My reason for doing so was to demonstrate that the transaction dynamics of the Grand Bazaar are identical to the on-line market place. I like to refer to the on-line marketplace as The Grand Bazaar in the Sky
I want to re-visit this image because so many people with whom I am working with feel totally overwhelmed when they enter the on-line market place. And at first, or even tenth glance, it really is a garish and intimidating place. But, if we keep the dynamics of the Grand Bazaar in mind, it quickly becomes less intimidating and less garish.
First, The Grand Bazaar in the Sky is immense. Every day trillions of dollars are floating around the on-line market, and every day millions if not hundred of millions of vendors are exchanging those trillions of dollars by selling their good and services to the billions of people who enter it, either to purchase or to browse. And its growth is exponential—almost overwhelming.
But, when we stop to think about it, just like the Grand Bazaar, there are only four classes of people in the on-line bazaar: First are the tourists—and there are a lot of them— who have come in to take a look. As with those in the Grand Bazaar, they are probably overwhelmed with all of the lights, the colours, and seeming confusion. If they are going to purchase anything, it will just be a cheap souvenir. so everyone pretty well ignores them.
Second, are the vendors—the people who actually have something to sell. The Grand Bazaar has over seven thousand of them selling everything form those cheap souvenirs to very expensive carpets, antiques and jewelry.
Third are the people who have come into the bazaar to actually buy something. Customers are the life blood of the bazaar and…and I will come back to them in a future posting
Fourth are what I like to call the bazaar touts, People who work the floor of every aisle of the bazaar and whose job it is to connect buyers with sellers. This fourth category is one of the most important and it is the concept of the bazaar tout that anchors the on-line market place. On-line Bazaar Touts are called Affiliate Marketers, and like those touts in the Grand Bazaar, their function is exactly the same—connecting buyers with sellers.
And that’s it!—only four classes of participants and each of them deserves some thoughtful attention as the play a key role in the transaction dynamics of the on-line market place. And look for more on each of them in future postings.
In the meantime, if you want to learn more about the Grand Bazaar in the sky, you can do three things: post a comment below, visit my web site: www.aldpar.com - or e-mail me
ron@ aldpar. com. until next time