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Advancing the Concepts & Practices of Information Resources Management in Modern Organizations

Value Network View on Digital Marketplace

Value Network View on Digital Marketplace
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Author(s): Mohammad Nabil Almunawar (Universiti Brunei Darussalam, Brunei), Muhammad Anshari (Universiti Brunei Darussalam, Brunei)and Syamimi Ariff Lim (Universiti Brunei Darussalam, Brunei)
Copyright: 2021
Pages: 12
Source title: Encyclopedia of Organizational Knowledge, Administration, and Technology
Source Author(s)/Editor(s): Mehdi Khosrow-Pour D.B.A. (Information Resources Management Association, USA)
DOI: 10.4018/978-1-7998-3473-1.ch091

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Abstract

A digital marketplace is a virtual platform that creates values by managing the interaction between two-sided networks or markets, consumers and producers or suppliers to transact. It provides both sellers and buyers to transact cheaply, quickly and conveniently. Digital marketplaces have created significant impacts and disruptions in many industries all over the world. As digital marketplace firms provide innovative and efficient business models, they may disrupt conventional firms that rely on physical interactions. Equip with virtual communications through digital platforms, digital marketplace firms can grow quickly and pose a serious threat to conventional firms. This chapter discusses network externalities, two-sided markets, and value network theories and how these theories can be applied to view digital marketplace firms in setting their expansion strategies. Some digital marketplace business models and how these models operate will also be discussed.

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