Marketspace
Encyclopedia
Marketspace - an information and communication based electronic exchange environment - is a relatively new concept in marketing
. Since physical boundaries no longer interfere with buy/sell decisions, the world has grown into several industry specific marketspaces which are integration of marketplace
s through sophisticated computer and telecommunication technologies. The term marketspace was introduced by Rayport and Sviokla in 1994 (see Rayport, Jeffrey F. and John J. Sviokla, "Managing in the Marketspace," Harvard Business Review, Nov/Dec 1994, Vol. 72, Issue 6, p. 141-150) to distinguish between electronic and conventional markets. In a marketspace, information and/or physical goods are exchanged, and transactions take place through computers and networks.
These networks consist of Blogs (and the Comments), Forum
threads, and micro-blogging
services like Twitter. Businesses and their customers are enabled to create conversations and two-way communications about products and services. These conversations may also happen outside the sphere of control of a given business, when a marketing campaign or customer-service issue captures the attention of web-savvy consumers.
Marketspace Pty.Ltd. was registered as an Australian Company (A.C.N. 068 231 158) on February 15, 1995. The company was a venture of the Shomega Group (Show-Ads) who had tight, long standing ties with the advertising and retail sectors in Australia. The service Marketspace provided was an online shopping mall through which customers could view and browse products offered by the retailers Shomega already dealt with. The service launched with several high profile clients including Myer
and Target, however purchase of goods was not possible and the service, arguably well ahead of its time, never gained traction.
Marketing
Marketing is the process used to determine what products or services may be of interest to customers, and the strategy to use in sales, communications and business development. It generates the strategy that underlies sales techniques, business communication, and business developments...
. Since physical boundaries no longer interfere with buy/sell decisions, the world has grown into several industry specific marketspaces which are integration of marketplace
Marketplace
A marketplace is the space, actual, virtual or metaphorical, in which a market operates. The term is also used in a trademark law context to denote the actual consumer environment, ie. the 'real world' in which products and services are provided and consumed.-Marketplaces and street markets:A...
s through sophisticated computer and telecommunication technologies. The term marketspace was introduced by Rayport and Sviokla in 1994 (see Rayport, Jeffrey F. and John J. Sviokla, "Managing in the Marketspace," Harvard Business Review, Nov/Dec 1994, Vol. 72, Issue 6, p. 141-150) to distinguish between electronic and conventional markets. In a marketspace, information and/or physical goods are exchanged, and transactions take place through computers and networks.
These networks consist of Blogs (and the Comments), Forum
Internet forum
An Internet forum, or message board, is an online discussion site where people can hold conversations in the form of posted messages. They differ from chat rooms in that messages are at least temporarily archived...
threads, and micro-blogging
Micro-blogging
Microblogging is a broadcast medium in the form of blogging. A microblog differs from a traditional blog in that its content is typically smaller in both actual and aggregate file size...
services like Twitter. Businesses and their customers are enabled to create conversations and two-way communications about products and services. These conversations may also happen outside the sphere of control of a given business, when a marketing campaign or customer-service issue captures the attention of web-savvy consumers.
Marketspace Pty.Ltd. was registered as an Australian Company (A.C.N. 068 231 158) on February 15, 1995. The company was a venture of the Shomega Group (Show-Ads) who had tight, long standing ties with the advertising and retail sectors in Australia. The service Marketspace provided was an online shopping mall through which customers could view and browse products offered by the retailers Shomega already dealt with. The service launched with several high profile clients including Myer
Myer
Myer is Australia's largest department store chain, retailing a broad range of merchandise including women's, men's and children's clothing, footwear and accessories; cosmetics and fragrance; homewares; electrical; furniture and bedding; toys; books and stationery; food and confectionery; and...
and Target, however purchase of goods was not possible and the service, arguably well ahead of its time, never gained traction.