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The Student Marketplace would allow students to sell items between themselves, and is marketed to universities directly through online correspondance, which would lead to posters being put up in Student Unions and around the campus itself. If possible, information would also be posted to all students in the institution through email.
The service would be free to use and accounts would incur no costs, the only profit the website would make would be through taking 5-10% off the final selling price of any item. This would automatically be deducted from what the seller receives after the transaction is completed. There are a number of barriers to overcome before this idea could be completed. Firstly, the capital required to create the website would be massive as it would have to be as sophisticated as competitors such as eBay and Amazon. This kind of business would also require support systems in place, which may require the hiring of staff and possibly the renting of office premises.
The major advantage of this project would be to create a secure environment where students are able to find anything they need for their courses quickly and easily, and get it for the best possible price. This would happen through a carefully planned out category system, taking users directly to what they are looking for.
This website exploits a gap in the market, there are other websites doing a similar thing, but by downscaling to just the university environment, it will become a student-friendly site, creating benefits for students and institutions alike.
Promotions could frequently be run, such as cheaper costs over limited periods of time. Events could also be held in universities across the UK to gain advertising exposure for the business. If successful, this website could be of massive benefit to the whole of the student community in the UK.