Electronic Markets has Weakened the “Tradeoff between Reach and Richness“ in the Internet

Authors: Haroon Altarawneh, Sattam Allahawiah

Abstract:

This paper has two main ideas. Firstly, it describes Evans and Wurster-s concepts “the trade-off between reach and richness", and relates them to the impact of technology on the virtual markets. Authors Evans and Wurster see the transfer of information as a 'trade'off between richness and reach-. Reach refers to the number of people who share particular information, with Richness ['Rich'] being a more complex concept combining: bandwidth, customization, interactivity, reliability, security and currency. Traditional shopping limits the number of shops the shopper is able to visit due to time and other cost constraints; the time spent traveling consequently leaves the shopper with less time to evaluate the product. The paper concludes that although the Web provides Reach, offering Richness and the sense of community required for creating and sustaining relationships with potential clients could be difficult.

Keywords: Internet, Web sites, Richness and Reach, Ecommerce, virtual markets.

Digital Object Identifier (DOI): doi.org/10.5281/zenodo.1334828

References:

[1] Joshua Chang (2000)," Overcoming the Tyranny of "Richness" and "Reach" "http://www.arraydev.com/commerce/JIBC/0402-03.htm last visited 28/3/2005
[2] Evans, P. and Wurster, T. (1999) "Blown to Bits: How the Economics of Information Transforms Strategy", Harvard Business School Press, Boston
[3] Christoph zott ,Jon j. Donlevy (2000) Strategies for Value Creation in E- Commerce: Best Practice in Europe.
[4] Neal, C., Quester, P. and Hawkins, D. (2002) Consumer Behaviour: Implications for Marketing Strategy, 3rd Edn. McGraw-Hill Irwin, NSW
[5] Sharma, A. and Krishnan, R. (2002) "Clicks Only, Clicks and Brick, and Brick Only: Are Retail Salespeople an Important Factor in Choice?" Journal of Marketing Management, Vol. 18. No. 3-4, April, pp. 317-336.
[6] Rowley, J. (2000) "Product Search in E-Shopping: A Review and Research Propositions", Journal of Consumer Marketing, vol. 17 no. 1, p. 30.
[7] www.felinebird.co.uk/mod3x2.shtml last visited 10/5/2005