Assignment

On
Online Marketplace: Fiverr
Course Name: Enterprise Information Systems
Course Code: MIS 305
Section: 04

Submitted To
Mohammad Masudur Rahman
Senior Lecturer,
Department of Business Administration

Submitted By
Name Student ID
Sayed Mondol Abir
Sara Alam 2019-2-10-063
Mahe Alam Sarker
Tanzina Islam
Letter of transmittal

To
Mohammad Masusdur rahman
Senior Lecturer,
Department of Business Administration
East West University
Aftabnagar, Dhaka-1212, Bangladesh.

Subject: Submission of term paper on “Online Marketplace- Fiverr”.

Honourable Sir,

It is our pleasure to submit the assignment on “Online Marketplace- Fiverr” as a part of our
course. We have put our best effort to prepare this paper which enriched our knowledge on
different levels. We tried to reflect the practical operational aspects of these which are related
to sectors.

We are pleased to provide you this assignment with the necessary notes and we shall be
available for any clarification, if required.

Sincerely,
Mahe Alam Sarker
On behalf of the group
Acknowledgement

We would like to express our thanks of gratitude to our honorable faculty, Mohammad
Masudur Rahman, Senior Lecturer, Department of Business Administration, East West
University for his able guidance, supervision, inspiration and invaluable advice in completing
this paper. We would also like to extend our gratitude to all relatives, friends and others who
shared their support either morally or physically. Above all, this group would like to express
their deep appreciation and indebtedness to the Great Almighty, the author of knowledge and
wisdom, for His countless love.
Table of Contents

Executive Summary ................................................................................................................

iv

Chapter 1 [Type your Chapter Name Here] .........................................................................

1

1.1 [Type your Chapter Sub-Heading Here] .................................................................. 3

1.2 [Type your Chapter Sub-Heading Here] .................................................................. 3

1.3 [Type your Chapter Sub-Heading Here] .................................................................. 3

Chapter 2 [Type your Chapter Name Here] .........................................................................

4

Chapter 3 [Type your Chapter Name Here] .........................................................................

5

Chapter 4 [Type your Chapter Name Here] ........................................................................

6

4.1 [Type your Chapter Sub-Heading Here] .................................................................. 7

References .................................................................................................................................
9

Appendix A. ............................................................................................................................
10

List of Tables

Table 1: Table Name ..................................................................................................................

6
Executive Summary

This assignment is about a website called Fivver that offers freelance services to businessmen
and the general public. The assignment focuses on the pros and cons, skills required, joining
and withdrawal method of this particular website called Fivver. Anyone with any particular
skills can earn decent money by providing services to the customers through Fivver. The
services are usually called gigs and offered at various prices depending on the job and level
of skilled sellers. Skills from graphic designing to email and CV writing are being traded.
Depending on the need of an organization the work varies. Some need social media manager,
some need a game developer, some need a video editor, all of these needs are being fulfilled
by the unemployed worker, students, job holders who are wishing to earn extra and other
people with skills and expertise in this field. The reason Fivver is so popular in today's time is
because of its operating system, payment method, and security. The Operating system and
interface of Fivver are very easy to access and understand. The payment method is very
secured, the buyer has to pay Fivver for the Gig before then after completing the work Fivver
pays back to the seller as contracted. The security of Fivver is very strong, scamming is a rare
word on this website. The process of joining and creating a gig is also easy, one just needs to
read the step and fill up the required information. Fivver has become a great place for the
general public with skills to earn extra money, even some are full-time freelancers in Fivver.
This is creating a huge impact on society by helping young people by selling their skills. It is
also having a great impact on the business world by providing services that might cost a lot
and need a whole department to work on. This way small even large business organizations
are cutting their cost and getting efficient and effective results from freelancers in Fivver.
Introduction
This assignment was given to us as a part of the partial requirement of the course
Management Information System course (MIS305) of the Bachelor of Business
Administration program of East West University. Fiver is an Israeli online marketplace for
freelancer services. Fiver is an Israeli online marketplace for freelancer services. This
marketplace is a two-sided platform from buying and selling a variety of advanced
administrations ordinarily advertised by independent temporary workers. These platforms are
essentially demand-driven. Another extends of stages floats from this demand-driven based
approach to a supply-driven approach where the specialists attempt to grandstand their
abilities and abilities by advertising different microtasks. These marketplaces are essentially
utilized by specialists. Upwork, Elance, Fiverr, oDesk, Freelancer, Task Rabbit are a few of
the exceptionally unmistakable supply-driven marketplaces where the provider's post
promotions on administrations like imaginative writing, programming, software
improvement, graphics, etc. with hourly rates or a fixed fee.
Origin of the study:

This assignment was given to us as a part of the partial requirement of the course
“Enterprise Information System” course (MIS305) of the Bachelor of Business
Administration program of East West University. Our course instructor Mohammad
Masudur Rahman, Senior Lecturer, Department of Business Administration.

The administration has assigned us this assignment as a part of the course. Sir has authorized
the task of writing this report on a group basis.

Background of the study:

Fiverr is an online marketplace that connects businesses consultants offering advanced

services in 300+ categories. For this Covid-19 pandemic situation, many students and also a
businessman who have leisure time after doing their job, they also establish their connection
towards Fiverr online marketplace because of earning some more. This marketplace is helpful
for students because, during this pandemic, most of the students are not able to go outside so
they can spend their leisure through spending their time on the online commercial
marketplace.

Since 2010, Fiverr has developed into one of the largest and well known online outsourcing
marketplaces. This freelancer platform is called a two-sided platform because Fiverr
encourages the buying and offering of “gigs” (micro-tasks) online beginning from as low as
$5 per gig. The dealers in Fiverr, separated from the offering, can also purchase gigs from
other dealers; essentially, buyers can also get to be sellers at whatever point fundamentally.
This double part played by the people of this community and the interaction among them has
made Fiverr an interesting marketplace.

Objective of the study:

Fiverr is an internet commercial center or an online marketplace that is changing how the
world works together. Fiverr's platform interfaces businesses with on-demand independent
ability marketing progressive managements in more than 400 categories, over 8 verticals
counting realistic plan, advanced promoting, programming, video, and liveliness. This online
platform is different and unique from others because there is no one post for jobs, where
freelancers apply for them.

Most of the students and unemployment peoples does not know about this platform. So, by
our study, we want to apprise about Fiverr. We will find some specific objectives, which are:

 To know about how this platform works for students and also other people.
 To know about the marketplace and also other important information throughout this
study.
 To know how to allow listing and applying for small one-off jobs, or gigs, online.

Limitations of the study:

For this Covid-19 pandemic situation, many students and also a businessman who have
leisure time after doing their job, they also establish their connection towards Fiverr
online marketplace because of earning some more. This marketplace is helpful for
students because, during this pandemic, most of the students are not able to go outside so
they can spend their leisure through spending their time on the online commercial
marketplace. Due to the Covid-19 pandemic situation, the total study was done online.
There were a lot of limitations we face, like:

• This research heavily relies on legal records.

• While assembling records, we experienced huge problems because they are not well-
organized.

• There are different ways to gather information about this study but due to the
pandemic, we cannot do a thorough study.
 Pros and Cons of Using Fiverr

Pros of Using Fiverr:

 Affordable Service

On Fiverr, all categories of items start at $5, and the maximum price of items is capped. For
the buyer, this is the best opportunity to complete the work at the lowest price, which is very
beneficial to the buyer. Not only can it help us save more money, but we can also do more
work with less money. This affordable service is one of the main reasons why Fiverr is loved
by so many people.

 Various Freelancers

The availability of different freelancers helps buyers get better service with the lowest
amount of money. At Fiverr, we can find experts and junior freelancers, all of whom are
experts in their fields. We can clearly compare their services by looking at the jobs and
qualifications of different freelancers. Various freelancers give Fiverr a different view from
any other freelance website.
 Best Customer Support

When using the platform, many users face many different problems that need to be solved
every day. But when we talked about freelancing websites, the situation changed completely.
On many other freelance platforms, many buyers face scams that fail to provide the exact
service promised by the seller. But Fiverr provides buyers with the best customer support, so
they can contact technicians when they need it.

 Variety of Projects

The freelancing community is not limited to specific fields. This is a wide field where we can
get different types of projects related to different fields. Sellers and buyers of Fiverr's and
website can use apps, websites, videos, music, graphics, and more. More than 10,000
different projects related to different categories are available on the Fiverr platform.
 Extra Money

Many people do freelance as a professional full-time job. Despite this, a large percentage of
freelancers still work as part-time freelancers to earn additional income.

As we know, the minimum cost of a small project on Fiverr is $5 (nearly 420 tk), and
freelancers can make money according to their needs.

 Easy to Use Interface

Fiverr provides an easy-to-use freelance platform for all sellers and buyers so that they can
complete their work without wasting time. It is not that most freelancer websites do not
provide user-friendly interfaces although some websites have complex interfaces.
 Negative Reviews

On some websites, sellers promise a lot of things to buyers, but when they finally get the
items, most of the things promised were not provided to buyers. This situation is completely
unfair and the platform should ban these users. Fiverr's freelance platform provides buyers
with negative comments, so when they become a victim of these types of scams, they can
post negative comments. Doing so will warn other buyers not to accept the seller's services.
In addition, the buyer can file a claim against the seller at the customer service office and the
team will act quickly.
 Cons of Using Fiverr

 Quality Service demands High Charges

When we talk about the shortcomings of the Fiverr platform, the pros, and cons of buying
Fiverr services change. If we look closely, we will find that on Fiverr, the seller categories
are divided according to their rank. The ranking shows the quality of your work and also
brings more benefits to buyers. But to get high-quality services from professional sellers, we
also have to pay a high price. Many new users complain about this feature. Thanks to this
feature, expert sellers make a lot of money, while beginners only make a small amount of
money.

 Frustrating Deadlines

As we know, there is an option available to the seller where he can limit the number of
projects received. But most sellers don't use this feature and take on more projects at a time.
For this reason, sellers increase the schedule for a service that usually takes several hours.
Now it will take 34 days and if we want our work to be faster, we have to pay more for it.
This feature is really frustrating for users or buyers who want their work done on time.
 Fraud Sellers

Fiverr offers too many features for buyers to make it an anti-phishing platform. But crooks
are one of those things that can't be easily eliminated. At Fiverr, there are a handful of fraud
or fake sellers that hijack projects by doing the best gigs. But after receiving the project, the
seller provides below standard service to the buyer. After facing this situation, buyers feel
like they are being cheated, which also affects the reputation of the Fiverr freelance platform.

 High Charges

People get fooled after looking at the $5 plans because we won't be getting the best service at
that price. Most of the services that people generally admire are more expensive starting at
$30, which is not at all handy for the pockets. So, if we are a newbie and want the job to be
done by the seller, then before asking, should confirm the services and features so that we
will not regret it later.
 Difficult for Beginners

The freelance Fiverr platform is not like it used to be. Before updating the website, it was
very easy for each user. But after the update the platform is a bit confusing for newbies.
Before the update, the seller can easily view the buyer's plans and can be contacted directly.
But now it has turned into a rocket science that most newbies don't know. This is one of the
biggest drawbacks for people who are just starting to use Fiverr.

 Hard to Make Constant Money

For professionals, it's easy to say that freelance websites are great for making continuous
money. But in reality, the truth is also bitter and very harsh. A beginner faces many problems
when starting his freelance job, and the struggle continues for years. The same concept goes
with Fiverr, where it's hard to consistently make money for newbies.
Types of skills Required

Fivver is an Online marketplace or platform that connects businessmen and freelancers and it
is well known for its freelance services. There are no particular specific qualifications or
skills that is needed to be on fivver rather if you have any skills that can be traded to a
businessman or other employers fivver is a place to do that. Obviously, it is not a physical
marketplace so physical objects or services cannot be traded here such as plumbing, furniture.
It is a place where everyone can make some extra money without joining or permanently
being an employee of an organization or any other entity. Skills like graphic designing,
blogging, and editing, consultancy are needed and have a high demand on fivver. Everyone
can earn money by selling or trading their skills to desired or needed employers. There are
some jobs or skills that have a high demand on fivver such as:

1. Social Media Management: In this modern era of business, every business needs to
shift their business, promotional activity and another
important task online and the best way to do that is to use
social media. By Joining social media, a business can reach
its customers, it can get feedback from its customers and it
can make the company stand out from others. These jobs
can be viewed as burdens and might not be managed by the
company so as a result, the company feels it is more
efficient to give out these jobs to freelancers who are willing to take the job and that
way company can avoid employing a new employee to the organization.
2. Logo Designing: Logo designing is another high demanding job or skill in fivver. In
2021 Logo designing was the 2nd most selling or
demanded service on fiver. Companies that don’t have their
own logo and for startup companies or businesses, it is very
hard to pay logo making companies a huge amount of
money to build a logo rather they prefer to pay freelancers
and make their logo by them via fivver. The logo is a crucial factor for business. It
holds the reputation, the brief introduction of the company, and identifies the
company from others. For small even large companies are preferring the idea to
contact freelancers for this job.

3. Writing skills: Copywriting, copy editor, translator,

blogger all are included in writing skills. These skills are
also significantly admired by businessmen and other
entities. Organizations and large companies hire
freelancers to write content, product and website
description, social media content. A person who is very
good at grammar can also use his skills for writing magazines, edit website
descriptions, and editor of books.

4. Digital marketing: The conventional way of marketing is no longer

effective or efficient rather the marketers and marketing departments
of various organizations are focusing on digital marketing through
social media. Most of the general public nowadays is avoiding
watching television but the majority of them use social media. In
order to inform them about the existence of this product is crucial to
promote it via social media. So, the organization select or hire a freelancer from fivver
in order to boost traffic to their website, promote their product and services and turn
potential customers into paying customers. They also
receive the complaint and feedback of the customers and
notifies the organization.

5. Infographics designing, Illustrator: Companies,

agencies, students need infographics to attract customers
 by showing an animated video, showcasing their events, and using it in their
educational life or projects. The entrepreneurs are approaching this new idea of
showcasing the product because the customers get bored to read the long article or
caption, statistical fact rather if business organizers use a short video to showcase and
input the details there the attention of the customers will be drawn to the videos and
towards the products. The need for infographic designers is rising exponentially.
Illustrator is those who create images for covers, magazines, book, newspaper. They
have also a high demand because these small works are burden for the job holder or
the company.

6. Video and audio editing: People from all around the world from different
backgrounds, different cultures, and different occupations are now creating content.
The contents may be for YouTube, for television serial,
short files, or even school or college projects but to give it
perfection or for use it at the professional level they need
to edit it so they hire freelancers to do the jobs. It is much
efficient and quite cheap but the service that they are
getting is delightful. The demand for a video editor is
getting higher as YouTube is being generalized everywhere. The audio editors are
also demanded by the buyers. Most of the musicians who are not privileged with the
facilities of the studio are hiring freelancers to help them make the song. Other jobs
like voice acting, voice for short films, and serials are also in need of a freelancer’s
audio editor.
7. Applications and game development: The gaming industry was worth 152.1 billion
dollars in the year 2020 and the market is growing incredibly fast. So, the developer
who has made or developed games before are highly wanted by the companies.
Sometimes companies think it is safe and efficient if they
let freelancers from another country who has expertise in
their game will be the right choice. Small gaming
companies are also looking for freelancers so that they can
avoid hiring a whole separate department. By having the
skill set of game developers one can earn huge money on
Fivver and these freelancers are highly desired by the
gaming companies. Applications for mobile and pc is also getting created every day
 and the old applications are getting developed every day, in the process of the
applications the company need applications developer. For large companies, it’s easy
to hire them as employees but small companies, prefer to do these jobs with
freelancers. Even big companies solve their problems with freelancers because it is
very expensive to put a whole new department or group to solve a single problem than
hiring a freelancer from Fiverr.
8. Minor Skills: Skills like writing emails for customers on behalf of the company,
writing CV and Resume for candidates that are willing to get a good job, writing to
customers about their problems, providing customers services by messaging are also
being traded in Fivver. These jobs are always wanted by the buyers and the sellers can
also sell his/her skills in fivver by working for them and in exchange, they will get
equal benefits from another’s.

How to join on Fiverr

We know Fiverr is an Israeli online marketplace for freelance services.

To activate the seller account and create the gig a desktop is must need.

1. An individual has to click “Join” from the Fiverr homepage.

2. Then a person has to enter through email address and press the Continue button. If
someone wants, he or she can join through Facebook or google or apple account also

3. Next step is choosing username. As it cannot be changed after choosing it, so seller
should be conscious before choosing. This username will serve as display name and
will be included in his or her fiverr URL, so it is an important step to do.

4. Then seller has to put a password and click “Join”.

5. At this point, the fiverr account will be registered. Registered email address should be
checked for activating the account.

6. Within the activation email, the account must be activated.

Now to activate the seller account, the user needs to follow some steps.

1. User has to select Become a Seller from the dropdown menu by clicking on his or her
profile image.

2. To begin the onboarding process, user has to return to the page he was led to and click
on Become a Seller again. This includes viewing three videos on how to sell on
Fiverr. Seller should now see the following on his screen:
3. After user has finished viewing the videos, he will be taken to Fiverr's advice on what
makes a successful Fiverr profile and what to avoid as a seller. Then he has to press
the Continue button.

4. User has to fill in the required fields (as marked with an asterisk). By making certain
that he completes his onboarding with only true and correct information about his
training, job experience, and abilities. The more precise and thorough the information
you provide, the more valuable your seller profile will be.

5. Following that, users may opt to connect their account to additional social networking
platforms:
 6. Taking the effort to authenticate and link sellers accounts will boost his credibility
and help fiverr give him more business. Seller's information is and will always be
private.

7. Users must phone verify their account at the end of the onboarding process:

8. The final step is to Create their First Gig on Fiverr to market one’s skills as a vendor!

Fiverr’s Payment Policy

Receiving Payments –

 Fiverr cooperates with payment service providers for the purpose of collecting all
payments from buyers, transferring those payments from buyers to sellers and keeping
funds associated with Fiverr balances. All payment services related to fundraising on the
Fiverr Platform are performed by Fiverr payment service providers

 To withdraw revenue, we must have an account with at least one of Fiverr's Payment
Service Providers for the withdrawal methods. All funds eligible for Withdrawal will be
held on behalf at an account with Fiverr’s Payment Services Provider.  All payment
services, including withdrawal services, will be provided by Fiverr’s Payment Services
Provider.
 Purchasing –

 Buyers pay Fiverr to create an order from a Seller Gig Page or a custom Offer, using
the Order Now button or through the Logo Maker. Fiverr cooperates with payment service
providers for the purpose of collecting all payments from buyers, transferring those payments
from buyers to sellers and keeping funds associated with Fiverr balances. All payment
services related to fundraising on the Fiverr Platform are performed by Fiverr payment
service providers.

 We can pay on Fiverr in a variety of currencies. Unless otherwise specified, we will

be billed in the currency displayed on the checkout page. All foreign exchange services
related to local currency payments are provided by Fiverr payment service providers.
However, in some cases, when certain currencies are not supported by the payment methods,
we will be charged in USD even if the price is displayed in a different currency. In all cases,
the actual invoiced amount will be clearly stated before the payment is completed.

Taxes-

 Fiverr may be required by applicable laws to charge users with indirect taxes (such as
Sales Tax, VAT or GST) or to withhold taxes. Any amount Fiverr will be required to collect
will be in addition to the purchase amount and any other fees payable by the Buyer, and any
amount Fiverr will be required to withhold will be deducted from the Seller’s revenue, as
required by applicable laws.

 Users are responsible for paying any direct or indirect taxes, including any
consumption tax, value-added tax or income tax, which may apply to them based on
residence, location or other reasons, depending on the regulations of their jurisdiction.

Disputes and Cancellations-

 Order cancellation can be done on Fiverr, and if the conditions are met, it can be done
through customer service or through the resolution center for each order.
 Fiverr reserves the right to cancel orders or set aside funds through its payment
service provider in response to any suspicious fraudulent transactions on the website.

 If the order is cancelled for any reason, the paid funds will be refunded to the buyer's
Fiverr balance.
 Fiverr encourages buyers and sellers to resolve service-related disputes with each
other using the Resolution Centre.

 For orders placed through Fiverr Logo Maker, once payment has been made, Logo
Designs orders cannot be cancelled.

 Fiverr does not automatically refund payments made for cancelled orders to payment
providers. Money from order cancellations is returned to the buyer's Fiverr balance and is
available for future purchases on Fiverr. Money returned to Fiverr Balance from cancelled
orders will not include service charges paid. Fiverr pays the service charge on the Fiverr
balance after the order is cancelled. In any event, if the service charge is not refunded on the
Fiverr Balance after the order is cancelled, the service charge amount will be waived for the
next purchase on Fiverr.

Withdraw fund from Upwork as a Bangladeshi

Fiverr does not support Bangladeshi banks, but through Payoneer's online payment system
we can transfer dollars from Fiverr to Payoneer then Payoneer to Bangladesh (any bank) to
connect our bank account on Payoneer. We need to just open a Payoneer account which is
totally free, then just verify it using a NID card or passport by using the original address and
connect the Payoneer account to a bank account. Such as Brac Bank, AB Bank, DBBL,
Southeast Bank, etc. Transfer money to Payoneer account then transfer to a bank account.
Payoneer to bank it takes 3 working days. but it transfers within 24 hours most of the time
and it’s totally safe.
Findings

1. No physical objects or products can be traded in fivver although a gig can be called
product it’s a package of services.

2. Selling limits are set by fivers for sellers. Beginner or level one can sell 5 gigs.

3. One can buy a gig by using a seller account but cannot sell using a buyer account. In
order to sell, you have to become a seller and set your skills and create your gigs.

4. Once you purchase a gig and for some reason, the order is canceled the refund will
not be sent to your bank account rather it will be added to your fivver account for
future purchase.

5. Although the selling price is mention in the gig but depending on the job the seller
and buyers can negotiate the price.

6. For beginners it is easy to create an account but hard to get a job.

7. After the payment the withdrawal process is much easier than on other websites.

8. Despite of the highs security the scams are still happening by the top-ranked sellers.
Recommendation
Conclusion
The Fiverr marketplace is one of a kind in that the buyers who buy gigs from sellers can
change over themselves to sellers at any point in time. Most sellers are profi-client in certain
sorts of administrations which shows a great level of polished skill within the commercial
center. Thus most of the beat sellers prefer selling a small number of gigs a number of
subcategories rather than offering diverse categories of gigs. From the perspective of the
average gain of best sellers, the patterns diminish over time. Globally, the rate gain of
customers for bestsellers is around40%. Be that as it may, a few subcategories moreover
appear diverse patterns. The picks up in some cases reach as tall as 75%. The Fiverr
marketplace is ruled by one-time buyers which comprise 45% of the whole buyers. An
interesting and special character in a supply-driven marketplace is the existence of loyal
clients. It is watched that numerous buyers buy the same item over and over from some
categories. This moreover comes about within the number of buys not continuously being
straightforwardly proportionate to the volume of buys. We watch that dealers are more
engaging in their intelligence and attempt to charm their buy-ers into buying their gigs.
Genuine categories have comparatively more surveys with near-zero and negative polarities
as compared to the unimportant categories.