Competitor Analysis

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School
United States Air Force Academy **We aren't endorsed by this school
Course
COMM 240
Subject
Business
Date
Nov 5, 2023
Pages
5
Uploaded by AlexMaenor on coursehero.com
1 Competitive Analysis Anthony Alberdi APUS ENTR 498 Dr. Obed Nyaribo July 16, 2023
2 Competitor Type of Competitor Strengths Weaknesses Business Duration Market Share Sales Fiverr Online platform specializing in micro-jobs or gigs. Established brand recognition and a large user base. Wide range of services offered by diverse freelancers ( Huang, Yao & Yin, 2019). User-friendly interface and easy-to-use platform. Limited focus on personalized user experience. Communication and collaboration features may be basic. Freelancer validation and trustworthiness may vary. Fiverr has been in business for over a decade, with many employees and millions of registered users ( Huang, Yao & Yin, 2019). Fiverr holds a significant market share in the freelance platform industry, generating substantial revenue from transaction commissions ( Huang, Yao & Yin, 2019). Substantial revenue Upwork Online platform connecting businesses with freelancers across various fields. Well-established platform with a wide range of freelancers and job categories ( Blyth et al., 2022). Robust project management tools and support for large-scale projects. Strong focus on client-freelancer collaboration and communication. Higher competition for freelancers, potentially leading to pricing pressure. A large pool of freelancers may result in more time-consuming talent selection. Reputation management and trustworthiness can be challenging with a diverse talent pool. Upwork has been in business for many years and has many employees and a substantial user base ( Blyth et al., 2022). Upwork is a major player in the freelancing industry, with a significant market share and substantial revenue from platform fees and additional services. Substantial revenue
3 TalentTap Online platform facilitating freelancing and remote work, targeting the gig economy. Intelligent talent matching. Streamlined communication channels. Trust and validation. Personalized experience. Limited brand recognition Smaller user base Limited service offerings Developing trust and reputation Newly launched, with a smaller team and a growing user base. Growing TalentTap is working to gain market share in the freelancing industry and generate revenue through commissions or subscription- based models. Summary of Findings TalentTap emerges as a promising contender in the freelancing platform market, with distinct differentiators that set it apart from established competitors like Fiverr and Upwork. Its emphasis on delivering a more personalized and efficient experience for clients and freelancers positions TalentTap as an attractive option for users seeking a tailored approach and reliable talent sourcing. The intelligent talent matching feature powered by AI algorithms and machine learning gives TalentTap a competitive edge, enabling the platform to provide personalized suggestions that align with each client's unique needs. This enhances the quality and relevance of talent matches, ultimately leading to more successful collaborations. While Fiverr and Upwork have established their positions and market shares, TalentTap's unique value proposition and targeted approach can attract users who prioritize a personalized experience
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