Archive for June, 2012

What is the definition of the Electronic marketplace?

An electronic marketplace or e-marketplace is a web-based application facilitating electronic trade between one or more buying organisations and several supplier organisations. http://www.qfinance.com/dictionary/e-marketplace

Another meaning of E-matketplace

An e-marketplace is a virtual online market where organisations register as buyers or sellers to conduct business-to-business e-commerce over the Internet. There are many types of e-marketplace based on a range of business models. They can be operated by an independent third party, or be run by some form of industry consortium that has been set up to serve a particular sector or marketplace. Services offered by e-marketplaces include electronic catalogues for online purchasing of goods and services, business directory listings and online auctions.http://www.netlawman.co.uk/internet-ecommerce/e-marketplaces-online-auctions-exchanges.php

Electronic marketplace also is an Internet-based environment that brings together business-to-business buyers and sellers so that they can trade more efficiently online.

The key benefits for users of an e-marketplace are reduced purchasing costs, greater flexibility, saved time, better information, and better collaboration. However, the drawbacks include costs in changing procurement processes, cost of applications, set-up, and integration with internal systems, and transaction/subscription fees.

http://www.qfinance.com/dictionary/e-marketplace

E-marketplace has a different types that divided into a different categories the operated into a business. These are the followings:

  • Independent e-marketplaces
  • Buyer-oriented e-marketplace
  • Supplier-oriented e-marketplace
  • Vertical and horizontal e-marketplaces

►An independent e-marketplace is usually a business-to-business online platform operated by a third party which is open to buyers or sellers in a particular industry. By registering on an independent e-marketplace, you can access classified ads or requests for quotations or bids in your industry sector. There will typically be some form of payment required to participate.

►A buyer-oriented e-marketplace is normally run by a consortium of buyers in order to establish an efficient purchasing environment. If you are looking to purchase, participating in this sort of e-marketplace can help you lower your administrative costs and achieve the best price from suppliers. As a supplier you can use a buyer-oriented e-marketplace to advertise your catalogue to a pool of relevant customers who are looking to buy

►Supplier-oriented e-marketplace is also known as a supplier directory, this marketplace is set up and operated by a number of suppliers who are seeking to establish an efficient sales channel via the internet to a large number of buyers. They are usually searchable by the product or service being offered.

Supplier directories benefit buyers by providing information about suppliers for markets and regions they may not be familiar with. Sellers can use these types of marketplace to increase their visibility to potential buyers and to get leads.

►Vertical e-marketplaces provide online access to businesses vertically up and down every segment of a particular industry sector such as automotive, chemical, construction or textiles. Buying or selling using a vertical e-marketplace for your industry sector can increase your operating efficiency and help to decrease supply chain costs, inventories and procurement-cycle time.

A horizontal e-marketplace connects buyers and sellers across different industries or regions. You can use a horizontal e-marketplace to purchase indirect products such as office equipment or stationery.

http://www.business.scotland.gov.uk/bdotg/action/detail?itemId=1075387418&site=202&type=RESOURCES

E-marketplaces has a components  this are the Customers, Sellers, Products and services, Infrastructure, Front end, Back end, Intermediaries, Other business partners, and Support services.
According also to (Prentice Hall  @2006) PDFs , marketplaces have three different main functions. First, by matching the buyers and the sellers. Second, Facilitating the exchange of information, goods, services, and payments associated with market transactions; and finally by providing an institutional infrastructure, such as a legal and regulatory framework, which enables the efficient functioning of the market. This three functions help us to understand on how the electronic marketplaces perform or useful for the economy today especially to the company or the business in every edge of this world.

Electronic marketplaces (e-marketplaces or marketspaces), changed several of the processes used in trading and supply chains
– Greater information richness
– Lower information search costs for buyers
– Diminished information asymmetry between sellers and buyers
– Greater temporal separation between time of purchase and time
of possession
– Greater temporal proximity between time of purchase and time
of possession
– Ability of buyers and sellers to be in different locations

Competitive Factors in the Internet Economy (with my own understanding)

Lower prices – in this factor when the sellers set a lower product, the company can get a many buyers of their products because it is easy to reach the price.

Customer service – a factors that very need in the economy the satisfaction of the customer is very important wherein if they are satisfied to the service they will return and invite the other customers.

Barriers to entry are reduced – try to avoid the possible problems that may enter to the company in able not became the reason of hassle to the company or if the company cannot avoid this situation , make the best solution for the problems to solve it.
Virtual partnerships multiply –provides  business and home-life support as and when it is needed. It is the smart solution to managing your workflow, whether it’s business or personal.

Market niches abound –The Internet has opened up all sorts of niche marketing opportunities that either never existed before, or were too expensive to tap into.

► In reading this topic and searching for the different meaning of each topic, I found that the Electronic Marketplaces is not just for the company or business purposes it may also become a part of our personal needs and activity that help us in doing an easy work, ideas, knowledge, information and the efficiency and effectiveness about this in our economy.

http://www.dbis.cs.uni-frankfurt.de/downloads/teaching/Ecommerce-Vorlesung/2011_SS_WB/lecture-markets.pdf

http://www.google.com.ph/

Thank you for reading this blog:D♥

Facebook Era (reaction blog)

Posted: June 16, 2012 in Uncategorized

As I watched and listened to the presentation of Ms. Clara Shih about the Facebook Era I was amazed on how she talk and explain her presentation in front of the people she share her opinion maybe her ideas on how this new technology  or things help us in our daily activities and to people who are having a business. This technology bring us in a easy work. In my gene ration today technology many of us first come inn our mind is the social networking like the Facebook, twitter, multiply and etc. This social media is a part of a technology that make us every people fanatic and patronized in every day  like when you wake up in the morning you faced automatically your computer and geat the everybody good morning, when you go to the expensive and familiar palce you get a photo with you and post it to the example facebook and tell what is happening on this palce ,  your experience and also before you sleep on your bed you use your time facing and chatting friends on what happen to your day.

According to Clara SHih ,technology,well known tools of knowledge, is drastically changing. For the fact that we are living in facebook era, technology is highly involved. It’s not just faceboook era, also twitter with over a million users. There’s something about social networking that seems to have universal appeal. Undoubtedly, facebook is the largest and the fastest growing one and in facebook alone, there are 400 million active users. People are not just signing in but also logging in. Facebook is one of the easiest and fastest way of communicating since this helps you to find you’re long lost friends and many more. The learning capabilities of having a facebook account are always updating all of the latest news and current events that are happening in the society. People are making it as part of their lives because citizens, related or unrelated, can talk or exchange a few words with each other.

Through Facebook also we found the information that we need to look for our past life like in our High School and college time , searching the person that we look for the some information that we are interesting to know in a certain person(friends,family relatives, boyfriend/girlfriend and maybe your crush and teachers). In short, the information that you look is found in the Facebook , because this website is an online identity or a way for you in your target profile that you want to reach. There is so many application and information that you may possible to see, like the work and education (elementary, high school college or maybe the masterly degree), were the people lived or his/her location, the family members, about the persons interest the basic information like her or his birthday, gender, status, contact information, email address and also the favorite quotation, actress and actor , hobbies and many more, you don’t need to go and find them in a very hard way just to stress yourself and wasting your time, to avoid this use the technology but don’t be too much used it because possible addiction is a result of this to you .

“Shih clearly articulates the opportunity for businesses on the social web, breaking it down into simple, actionable steps for companies to reach and connect with customers and prospects from around the world.”

– Sheryl Sandberg, Chief Operating Officer, Facebook

I liked this quotation , why? simply because it tells the people that through Social web like Facebook, you always keeping in touch to the people that you are targeted to reached.

Most of the Business today is using this site, such as facebook is one way of promoting or advertising products that is for selling purposes. On the other hand, facebook Pages provide a form of dialogue between customers and the brand, this unique opportunity gives companies the chance to build better relationships and to show consumer that they are about their opinions. Facebook also allows for the companies to gain a deeper understanding of how they are perceived online via direct contact with the consumers. Each business Facebook page should showcase the value of their individual brand and share valid information to emphasize the company’s position as an educated leader in their industry.

If you have the time to devoted building and using your social media for marketing, Facebook may have unlimited potential for your business, Before you consider how you will leverage your contacts on facebook, it is important to learn the etiquette appropriate for social networking. (http://blog.thenetimpact.com/2009/09/how-creating-a-facebook-business-page-can-enchance-your-brand/)

According to Ms. Clara shih presented in the video, technology eras of our lifetime such as mainframe in 1970’s, Personal computer in 1980’s, internet in 1990’s and social media today which is currently 2000’s, there are 73.5 % of US companies consider social media a top priority. Not only that, there are over 400 million active user of facebook alone and a lot of people spend over 22 billion minutes a day on facebook in the that tremendous amount of people and most target market could be fine online in facebook. .

As a whole Facebook and Electronic Commerce are very important strategy to develop Internet Marketing especially in other social networking sites.

That’s how Facebook is important to our Daily life. It is also matter a lot for us ,grown much more , help us to gain friends and followers , we need to understand the new Facebook  technology unique as possible.

References:

http://www.thefacebookera.com/media.php

https://www.twitter.com