21st Century Markets: From places to spaces

Peter Fingar, Harsha Kumar, Tarun Sharma

Abstract


Throughout history, markets have always re-created themselves, shifting the economic fortunes of those present at the creation. In this paper we discover how e-commerce alters the dimensions of time, place and form to alter fundamental notions of what a market is and how it operates. We explain what the shift from marketplaces to marketspaces means - and, what it portends. We look at new forms of intermediaries, cybermediaries. We explore the need for companies to appear in multiple, simultaneous roles in multiple, simultaneous marketspaces. Then we drill deeper to look at the business case for I-markets, their inter-enterprise business processes and the agile software needed to support new and changing business models. Armed with this framework, we move on to describe the key dimensions of strategy that companies will need in order to succeed as 21st century markets transform from places to spaces.

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DOI: http://dx.doi.org/10.5210/fm.v4i12.707



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