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Describe Marketspace Components.

Describe Marketspace Components.

Answers

Kavungya
• Marketspace – is a marketplace in which sellers and buyers exchange goods and services for money (or for other goods and services), but do so electronically.
• Components include: Customers, Sellers, Goods (physical or digital), Infrastructure, Front-end, Back-end, Intermediaries/business partners, and Support services.
i). Customers
- Web surfers looking for Bargains or customized items, Collectors’ items, entertainment etc.
- Organizations
ii). Sellers
- Hundreds of thousands of storefronts are on the Web advertising and offering millions of Web sites
iii). Products
- Physical products- can only be delivered in conventional ways
- Digital products—goods that can be transformed to digital format and delivered over the Internet
iv). Infrastructure
- Hardware, Software, and Networks
v). Front-end business processes
- These include: Seller’s portal, Electronic catalogs, shopping cart, Search engine, and Payment gateway
vi). Back-end activities
These are related to:
- Order aggregation and fulfillment
- Inventory management
- Purchasing from suppliers
- Payment processing
- Packaging and delivery
vii). Intermediary
- A third party that operates between sellers and buyers e.g. banks, insurers, credit card companies e.t.c.
viii). Other business partners
- Collaborate on the Internet, mostly along the supply chain
ix). Support services such as
- Certification and trust services and Knowledge providers
Kavungya answered the question on May 9, 2019 at 09:59

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