Digital Markets - Annotated Bibliography Example

Topic: Digital Markets Goodman, E. P. (2004). Media policy out of the box: Content abundance, attention scarcity, and the failures of digital markets. Berkeley Technology Law Journal, 1389-1472 This article ascertains that electronic commerce would at one time influence the way for which products are transacted amongst business entities. The article is important since it provides pertinent information on how B2B businesses will help to unlock the effects of a single-source supplier as many would now be available on the platform. It however fails to mention the applicability of this feature in small businesses. It relates to other articles since it showcases the way digital markets affect supplier decisions. Deighton, J., & Kornfeld, L. (2008). Digital interactivity: unanticipated consequences for markets, marketing, and consumers. Harvard Business School. The article notes that the performance of digital media in influencing marketing has not been effective in its undertakings. The authors’ notes that digital media had failed to intrude marketing messaging in a deeper and precise manner into consumer lives when compared to broadcast media. In fact, the article argues that the technology fostered seclusion as opposed to promoting aspects related to incorporation. The article is important in this study since provides information related to how traditional and digital markets have fared on over time. It however fails to provide ways through which these two components can be intertwined together to form a robust market. Sassen, S. (2005). Electronic markets and activist networks: The weight of social logics in digital formations (pp. 54-88). Princeton University Press. This book provides information on how the electronic markets have continued to offer access to for capital for business operations. In essence, it is inclined towards the argument that specific computer-based technologies have continued to reshape financial markets while focusing on distinguishing between derivative and transformative changes. This article is important to the study, and relates to others since it seeks to provide specific information on how digital networks have focused on allowing digitisation of financial instruments. However, it fails to note whether digitisation of networks can be adopted in accessing other forms of products and services efficiently. Smith, M. D. (2002). The impact of shopbots on electronic markets. Journal of the Academy of Marketing Science, 30(4), 446-454. The article argues that the current electronic markets have adopted internet shopbots, which are basically automated tools that foster consumers into easily searching for components related to prices and product attributes from all notable online retailers. It ascertains that in future, these shopbots will be greatly of beneficial value to consumers at the immediate expense of retailers. Thus, they will greatly reduce the level of consumer search costs and time; retailer opportunities in differentiating between their products hence directing retailer margins towards zero mark. This article is important for the research paper since it provides data on the numerous ways for which electronic markets operates. It however, fails to note how these shop-bots can be used to the advantage of online retailers for purposes of improving on their margins. Pan, X., Ratchford, B. T., & Shankar, V. (2002). Can price dispersion in online markets be explained by differences in e-tailer service quality? Journal of the Academy of Marketing Science, 30(4), 433-445 This article argues that different online platforms as well as internet-based lower search costs and electronic markets have continued to be more competitive in comparison to the traditional markets as a whole. It further notes that there have been contradictory studies that have shown that price dispersion conducted by e-tailers cannot be smaller when compared to traditional markets due to such important aspects as shopping convenience and consumer awareness. It shows that the aspect price dispersion remains to be persistent even though there is control for e-tailer homogeneity. This article is deemed important because it provides information related to the dynamics of price in both digital and conventional markets as a whole. It however fails to avail information that shows how the dispersion can be controlled. Rosenbaum, H., Davenport, E., & Swan, M. (2003). Situational Trust in Digital Markets: a socio-technical exploration. AMCIS 2003 Proceedings, 225 This paper avails important research related to the underway progress being conducted in relation to situational trust in e-commerce transactions. It particularly put much emphasis on situational trust whereby it is subjected to a social-technical approach; a crucial component in electronic commerce platforms, to foster easier and smooth operations in digital markets. The article is important for the study since it provides information related to the factors deemed to be directly influencing successful operability of the digital markets. It relates to the other articles on the basis that it discusses on important digital market components that ensure smooth operations. However, it is very specific and does not provide room for the mentioning of other important aspects such as the degree of customer’s willingness and ability to embrace e-marketing platforms. Goodman, E. P. (2004). Media policy out of the box: Content abundance, attention scarcity, and the failures of digital markets. Berkeley Technology Law Journal, 1389-1472. http://onlinelibrary.wiley.com/doi/10.1111/j.1083-6101.2000.tb00345.x/full The author notes that the existing media policies in place are outwardly outdated and unreliable for purpose of allowing possible government interventions in digital media markets. In fact, the article proposes a relatively new analysis of the manner for which media policy goals and objectives would offer detailed information pertaining to the way new digital markets would be affected in the future media policies. The article is important for the paper because it ascertains how ell policies will foster the element of greater diversity in aspects related to video products especially in relation to regulation of subsidies in order to serve both reactive and proactive purposes. It relates to the other articles since it avails information related to the dynamics of existing policies in ensuring successful digital market operations. It however fails to showcase contributions that can be made by individual markets to integrate these policies as well. Smith, M. D., Bailey, J., & Brynjolfsson, E. (2001). Understanding digital markets: Review and assessment. This book argues that with the major development being witnessed in internet frameworks translating to aggressive platforms of commerce then it remains to be of paramount nature to comprehend its attributes in relation to electronic markets as a whole. The book proposes that the internet markets are more efficient in comparison to the traditional markets in relation to such components as price levels, menu costs as well as price elasticity. Just like in the other articles detailing the aspect of price dispersion, the authors agree that it is fairly expounded using retailer-specific components like trust and awareness. The article is important since it provides pertinent information on how the internet markets will change in the future especially as a result of development in cross-channel strategies, shopbots, improved supply chain management and also new information markets. Despite it mentioning these crucial dynamics of future e-marketing, the book does not go into detail to provide how each of these factors will really foster even more development of the digital markets in the future. Laudon, K. C., & Laudon, J. P. (2011). Essentials of management information systems. Upper Saddle River: Pearson. This article is focused on analysing the B2B electronic marketplace that was initially developed by Ford popularly known as the AutoXchange. The article notes that the objective of the B2B internet model was to transforms the existing relationship between more than 100,000 tier 1 and 2 suppliers as well as a small portfolio of some of the largest global automobile manufacturers. It notes as a result of this electronic market; it was established that the overall auto-industry resulted to reducing the cost of parts, increase level of quality and accomplish greater levels of flexibility while at the same time rationalize supply chain processess. The article is important because it provides a specific way for which a company used e-commerce platforms to achieve greater results. It however fails to mention how the model can be embraced in other manufacturing sectors as a whole. Baye, M. R., Morgan, J., Scholten, P., & Jansen, D. (2006). Persistent price dispersion in online markets. The New Economy and Beyond: Past, Present and Future (DW Jansen, ed.). New York: Edward Elgar Publishing, 122-143. The authors’ uses prices from one of the internet leading price comparison websites for most of the consumer electronic-based products and thereby present sufficient evidence in regards to persistence of price dispersion for more than 36 homogenous commodities. The article further shows that the product life cycle have direct effects on lead to alterations on the exact number of rival firms as well as the exact range of price dispersion that is deemed to be consistent with all predictions put forth by the Varian model. This article is important because it details how the aspect of price dispersion varies in digital markets. It however fails to present future ways for which these variations can be minimised in a conventional market environment. Read More