Chapter 2. The Electronic Marketplace

  1. Mark Norris1 and
  2. Steve West2

Published Online: 5 OCT 2001

DOI: 10.1002/0470841508.ch2

eBusiness Essentials: Technology and Network Requirements for Mobile and Online Markets, Second Edition

eBusiness Essentials: Technology and Network Requirements for Mobile and Online Markets, Second Edition

How to Cite

Norris, M. and West, S. (2001) The Electronic Marketplace, in eBusiness Essentials: Technology and Network Requirements for Mobile and Online Markets, Second Edition, John Wiley & Sons, Ltd, Chichester, UK. doi: 10.1002/0470841508.ch2

Author Information

  1. 1

    Norwest Communications, UK

  2. 2

    BT, UK

Publication History

  1. Published Online: 5 OCT 2001

Book Series:

  1. Wiley–BT Series

ISBN Information

Print ISBN: 9780471521839

Online ISBN: 9780470841501

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Keywords:

  • trading models;
  • markets;
  • guilds;
  • auctions;
  • seller-driven;
  • buyer-driven;
  • open markets;
  • cottage industries;
  • global markets

Summary

There are various ways in which you can set up an eBusiness, and the way in which it is done will have major impact on its effectiveness. The key thing is to make sure that the style, technology, security, etc. are appropriate, and to do this, it is worth considering exactly what sort of market you are in and what sort of trading model you should be adopting.

In this chapter, three basic models are introduced – broker, customisation and auction. Each defines a way of trading on the net, and each has specific implications for the way in which the business should be set up. But this is far from the whole story. There are a whole host of subtleties that define the nature of the market place. In particular, the influence of a dominant player (supplier or customer) and the impact of trust, culture and logistics is considered.

Successful traders understand their market. This chapter has explained the nature of the evolving electronic market. As well as looking at the operational dynamics, the drivers and issues that shape the way in which business is transacted are explained.