Excerpt from The Information Superhighway and Electronic Commerce: Effects of Electronic Markets
This paper examines how electronic markets may affect the evolution of the emerging national information infrastructure, popularly described as the information superhighway. Although not specifically discussed the conclusions reached seem applicable to the emerging global information infrastructure as well, albeit its development may be somewhat slower. It anticipates a rapid expansion of electronic market activity, as the national information infrastructure (NII) is connected to where the consumer lives, the home. When this happens (most likely over a ten year transition) significant changes in the economics of marketing channels, patterns of physical distribution, and the structure of distributor companies may also take place. Central to this evolution will be the way in which "the market choice box," the consumer's interface between the many electronic devices in the home (television, telephone, and computers), the information superhighway, and the vast variety of market choices, will be implemented.
Electronic markets, augmented by the capabilities of the market choice box, may profoundly affect those industry value chains that terminate with the consumer. The analysis presented here draws on previous writing on transaction costs and electronic markets and suggests that: 1) all intermediaries between the manufacturer and the consumer may be threatened, as the NII reaches out to the consumer; 2) profit margins may be substantially lowered and redistributed; 3) the consumer will thus have access to a broad choice of lower priced goods; and 4) there will be many opportunities to restrict market access to the potentially vast amount of commerce that will flow to the consumer. Although many of these potential areas of restricted access are being debated in public policy arenas, the market choice box, a technology component, may become a critical component of free access and thus needs public policy scrutiny.
It is becoming increasingly difficult to accurately delineate the borders of today's organizations.
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