Electronic marketplaces with several buyers and many sellers will become increasingly important to enable companies to successfully reach their target markets, and effectively buy and sell products. By an electronic marketplace, we mean a web site with trading functions for several buying and selling companies where the provider of the web site has no control over the prices of the products.
During this project eMarket services has:
Studied the eMarket area and further developed models and theories on the use of eMarkets in international business.
Developed a model for analysing participation in eMarkets from a cost/benefit perspective.
Gathered user experiences through interviews and drawn conclusions on the progress of eMarkets.
One pre-normative model and theory developed by eMarket Services during the former project is the main functions of an electronic marketplace related to the inefficiencies in the respective industry.
Stimulated the development of eMarkets through a series of seminars, networks, newsletter and articles.
eMarkets are still at an early stage and rapidly changing. There are still many eMarkets around the world and it is hard for companies to keep up with these changes. Many small and medium sized enterprises (SMEs) are not aware of the growing importance of eMarkets for international business. After the collapse of the financial IT-bubble many companies believe that eMarkets are dead or useless. The demand for information on eMarkets is consequently low at most TPOs. Now eMarket Services’ cases with user experiences show that eMarkets begin to make a real difference in the export business to many SMEs. Surveyed SMEs find the cases very useful to understand the benefits of eMarkets.
There is a need to transfer case study knowledge from the experienced to the inexperienced companies. Many independent eMarkets have shifted their strategies to providing IT-solutions in specific industries. At the same time consortia-backed B2B eMarkets were founded to facilitate procurement and collaboration for large companies. 2002 also saw the trend for global corporations to adopt hybrid strategies that involve using both private and public eMarkets. The consolidation of independent eMarkets has continued in 2002. The importance of consortia-backed eMarkets has increased dramatically and many independent eMarkets show increasing business.
In this report we present the knowledge we have generated through research and coordination between the Nordic trade promotion organisations, in cooperation with other trade promotion organisations in the eMarket Services project.
By transferring knowledge about the eMarket experiences of SMEs in the Nordic countries, we have been able to show how eMarkets create opportunities in international business, and help prepare companies for new risks and hurdles.
Through the support of the Nordic Industrial Fund it has been possible to increase the competitiveness of Nordic export companies.