Buyer and Seller determinants in e-market adding to value
The Internet and Web development have been the most exciting developments in the field of information and communications technology in recent years and has a greater impact on the way on doing business. . Electronic commerce has added a whole new dimension to discussion of business relationship (Morgan and hunt 2003). Electronic markets have become increasingly popular alternatives to traditional market forms over the last few years. Electronic markets can be used either to create new markets or to strengthen existing market, electronic market reduced the transactional cost of buyer and seller.(Hogeune & Theodre ,1996). The Internet's World Wide Web has become the prime driver of contemporary E-commerce (Viladimir, 1996).A electronic market (EM) uses the Internet to connect a limited number or pre-qualified buyers or sellers in one market. It is an online market where buyer and seller transactions take place online. Electronic commerce has added a whole new dimension to discussions of business relationships’’ (Morgan & Hunt, 2003).today market is placing greater emphasize on relationship. (Dwyer, et al…1987). Electronic markets are defined as networked information systems that serve as an enabling infrastructure for buyers and sellers to exchange information, transact, and perform other activities related to the transaction before, during, and after transaction (Varadarajan & Yadav, 2002). From a relationship perspective, electronic marketing (e-marketing) covers all orientations that allow relational exchanges in network, interactive, digital contexts; where security, privacy, and customer problem solving represent new marketing roles (Kalyanam & McIntyre, 2002).One central idea underlying relationship marketing is that the goal of marketers is to nurture long-term relationships by means of a structure of mutual benefits for the parties involved (Hewett & Bearden, 2001).Marketing relationships depend on three sets of dimensions— economic, resources, and social contents. These economic relationship benefits constitute the economic content (Morgan, 2000). Literature suggests that economic relationship dimensions, namely for buyers in the virtual marketplaces, may include market driven product pricing polices (Klein & Quelch, 1997), as well as relationship termination costs (Morgan & Hunt,1994).Second, the resource content may include relationship benefits to the relationship such as security, privacy, and service quality and consistency, offered by the supplier in an ICT context (Zeithaml, Parasuraman, & Malhotra, 2002). Finally, the social content, through which partners perceive their current and future compatibility, results from the sharing of similar cultures, information, open communication, and partners’ behavior (Morgan & Hunt, 1994; Sivadas & Dwyer, 2000). In an ICT context, these technologies act as a dialogue stimulator, facilitating interactivity and real time relevant information exchange between buyers and sellers (McKenna, 1997; Weiber & Kollmann, 1998). More specifically, the distinct characteristics of the e-market, such as its interactivity (Kalyanam & McIntyre, 2002) and real time functionality (McKenna, 1997) to me are very important in valuable relationship. Buyers in the e-market will receive more relevant on-time market and product information (Weiber & Kollman, 1998; Smith, Bailey, & Brynjolfsson, 1999) and a more efficient service delivery. Because both parties receive valued contributions from each other, each partner has a strong motivation to build, maintain, strengthen and deepen the relationship, making it more likely that they perceive their relationship as a win–win opportunity (Kumar et al.,1995). The evolution of competition forces firms to cope with an increasing difficulty in the management of technological options and market relations. Technologies...
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