virtual market space

virtual market space

platform to bring tgt supply and demand + technology and economic requirements to optimize the employment of resources and administration as well as selling process

info

communication

distribution

transaction

virtual market-spaces

increasing revenue

• increasing customer base

• increasing amount of purchase

• increase purchase frequency

decreasing cost

• reducing new service/product development cost

• more effective/efficient promotional spending

• more effective/efficient inventory replenishment

• business reengineering

• greater capital efficiency/effectiveness

info space

move prospective customers further along sales cycle by converting interest into action

• provide basic info customers would need

• build up buyer confidence in company

communication space

allows for companies to exchange info w/ various stakeholders in their business: suppliers, customers, strategic allies

distribution space

1. products that can be efficiently distributed by means of internet

2. services such as text, voice, or video-based consulting and training

transaction space

consist of new internet-based channels thru which economics agents can exchange formal business transactions such as orders, invouces, and payments

brochureware

provides little more than product info w a phone number or address for contact—electronic versions of the company’s real-world brochures

• delivery

• channel conflict

pitfalls of online sales

virtual organization

network of independent firms that join, often temporarily, to produce a service or product

provide innovative, high-quality products or services instantaneously in response to customer demands

virtual teams

defined as a group of ppl who interact thru interdependent task guided by common purpose

performs work across space, time, and organizational boundaries connected by interactive communication technologies

virtual leader

skills required to lead in virtual environment include

• ability to manage a network of interdependent firms

• design virtual operations

• create and sustain virtual relationship w internal as well as external constituents

• support virtual teams

• keep virtual teams focused