Virtual marketplace
A virtual marketplace , also an electronic marketplace ( EMP ) and - specifically related to the Internet - online marketplace , is a term from the field of e-business . It represents a virtual place / market space within a higher-level data network, within which virtual business transactions are carried out that can be supported by the marketplace operator (as a third instance ) at any point in the coordination process with the help of information-oriented value creation activities. Virtual marketplaces are particularly common in B2B (see also E-Procurement ) and C2C . A prominent example from the C2C area is eBay . The online retailer Amazon is also a marketplace. Experts now assume that the sales of marketplace sellers on Amazon are now greater than Amazon's own sales. A large number of EMPs in the B2B area can now be found in the automotive industry .
The marketplace operator fulfills an overview function, coordinates network effects (see synergy , economies of scope ) and brings together supply and demand in a qualitative and quantitative manner. Economies of scope arise not only between the transaction partners involved, but between all connected actors . The operator of the virtual marketplace takes over the technical processing. The condition for participation are compatible interfaces for all or all marketplace participants. By the offered services are procurement processes as a result of Internet technologies supported throughout. By automating the manual procurement processes and streamlining the subcontracting process, the procurement process costs are reduced . The services of a virtual marketplace can range from meeting requirements and supplier management to product development .
The elements of electronic marketplaces are of a technical and business management nature, - technical elements include search functions, encryption ; Business management are catalog and matching systems , auctions , tenders , information exchanges, financial and logistics services.
Marketplaces, platforms and portals
For the classification of a marketplace, the criterion is that there is communication between many suppliers and buyers ( polypol ; n: 1: m). In contrast to this, pure purchasing platforms are understood as communication between one or a few customers and many suppliers ( oligopsony ; 1 (n): m - peer-to-peer). E-procurement systems / purchasing platforms see their benefit in increasing the efficiency of procurement processes through electronic support, whereas marketplaces see their benefits in network effects along the entire value chain .
A theoretical distinction between marketplaces and portals that is difficult to maintain in practice relates to the delimitation of functions and objectives. Portals are defined with the aim of initiating business through the provision of information for users. Marketplaces, on the other hand, concentrate on holistic processing and bundling of purchasing, production and sales processes.
Often, however, one observes a blurred representation of the terms. Sometimes there is the possibility of a portal solution within a marketplace. The marketplace offers the virtual and technical space for several independent portals within those that can be reached via the infrastructure of the marketplace. Each portal can have its own user-specific characteristics and applications and is a "small" marketplace in itself. Shopping apps are increasingly being offered to end customers , with which mobile devices can be used to make targeted purchases online in certain marketplaces.
In the construction of such process portals, internal and external applications can still be linked. A uniform information architecture serves the communication of the OEM with the suppliers , end customers and employees. The internal integration functions as a group-wide employee portal, whereas the inter-company integration is intended to connect the processes with customers and suppliers via a collaborative infrastructure. For this purpose, all areas that are built on the basis of cooperation are integrated into the portal.
Operators of marketplaces
Marketplaces can be described from three different pages based on the companies that initiate the marketplace. As with all electronic business models that support trading relationships, these are buy-side, sell-side and neutral marketplaces. The operator structure has a significant influence on the strategy and the goals of the marketplace with regard to the market players. Competitive relationships also play a role with multiple operators.
A buy-side marketplace is organized by one or a few concentrated buyers. Its primary objective is to carry a stronger bond of the supplier to the buyer rationalization potential in materials and transaction costs perceive and just-in-time productions , as well as on-demand to put processes in more detail in focus. The advantage lies in a distributed risk, a strong demand and the market power induced by this. The high potential for demand makes this “thing” attractive for suppliers. Characteristics can be in the form of private marketplaces, as a solution initiated by an OEM or group , or in the form of procurement networks of several large OEMs or purchasing consortia. In most cases, these platforms or portals are hosted behind the buyers' own firewalls or a service provider . Problems in the operation of such markets can be of an antitrust nature, due to the high buyer power.
Sell-side solutions are initiated by one or a few salespeople who are characterized by dominant positions in fragmented markets. These providers often work with the aim of creating a counterpart to their customers 'marketplace solutions, on the one hand to achieve high sales through intensive customer loyalty and, on the other hand, not to run the risk of being squeezed out and controlled by their customers' solutions.
Neutral marketplaces, also known as third parties, are characterized by their independence from buyers and sellers. Contrary to buy-side or sell-side solutions, you have to reckon with a higher uncertain expectation in relation to your "survival" financial success (critical mass), as you are only supported by yourself and initially have no financial potential, as is the case with the other two are often the case. For this reason, the success of neutral marketplaces can only be found in regions in which buyers and sellers are equally highly fragmented and there is no one-sidedly concentrated party that endangers the market position of other participants. The consequence would be migration, initiation of their own solutions or no participation in business dealings via a marketplace on the part of the weaker party. Furthermore, neutral solutions require close cooperation with established companies on the buyer and seller side, between which business relationships already exist, right from the start. The reason is that the suppliers already have established sales channels for their customers that they are reluctant to give up in order to participate in a marketplace that does not offer them these channels.
Differentiations of electronic marketplaces
Horizontal and vertical orientations
Vertical marketplaces are geared towards the special needs of the individual branch / industry and are also referred to as industry-based or branch-specific. Their basis is often the merging of fragmented sub-markets. Here, too, the goal is to support the entire added value of a supply chain , but in the form of a specialization of the marketplace on the targeted industry .
Products , services, etc. that are traded and demanded across more than one industry , but usually do not go very deep, can be found primarily on horizontal marketplaces. The focus is on the procurement of industry-independent products such as C-parts (spare parts, office supplies , etc.) and MRO goods. The decisive criterion is the efficient handling of cross-sector procurement processes, with a differentiation between price and variety of offers and the resulting process cost savings.
Closed and open electronic marketplaces
In closed systems, users are primarily interested in retaining their existing suppliers in the medium to long term instead of opening up a new group of suppliers . The focus is more on communication purposes and less on the integration of fulfillment services.
Open marketplace systems focus on connecting as many participants as possible. The need for integrated additional services in addition to the usual offers of EMPs is very high, as the marketplace participants often do not know each other and there is thus an increased demand for risk management and financial services . In addition to the pure order processing, open marketplaces should primarily create a competitive situation between the sellers who offer the buyer the best possible price within a price war. Furthermore, buyers have the opportunity to find new providers. Any provider or inquirer who adheres to the rules associated with the system has the option of access. The offer can be sector-oriented as well as cross-sector. In addition to the costs of closed systems, there are often additional costs for transaction-related fees and fees for platform use.
Central and decentralized marketplaces
The distinction between central and decentralized marketplaces is derived from their organization . While central marketplaces are based on a central computer system, decentralized structures allow both decentralized data storage and decentralized intelligence. The maintenance of the decentralized system modules is carried out by the market participants and less by the marketplace operator. Negotiations and pricing take place multilaterally in a decentralized market, through individual communication between the participants. Decentralized electronic markets have the advantage that no redundant data storage is required and the data made available to the marketplace is up-to-date. The central appearance links either individual computer networks or, as in the case of Covisint, entire portals. In the case of centrally coordinated markets, the prices are formed directly using appropriate mechanisms or are fully automated. All information necessary for market price formation is available to the market participant. With central electronic markets, market transparency and pricing can be simplified.
Core, material and specialty marketplaces
Core marketplaces are 100% geared towards the needs of industry and are based on long-term business relationships with framework agreements and development partnerships . They are characterized by a large number of functions, tools and application programs . Material marketplaces, on the other hand, are relevant for various industrial sectors. In the automotive industry e.g. B. They are responsible for mapping procurement processes for important raw materials and material groups such as metal , plastic and electronics . Here, too, there are framework agreements, but also spot purchases. Special marketplaces, on the other hand, are characterized by irregular offers and requests for services, which are primarily fixed assets and machine or manufacturing capacities.
Forms of pricing and transaction allocations
Auctions
Auctions are used to determine the price of standardized ( DIN -, standard parts; C-parts ) as well as irregularly traded, non-standardized goods, using a step-like bidding process. Depending on whether the auction is initiated by the buyer or the seller , this bidding process can be "fought out" towards the highest price ( forward auction ) or towards the lowest price. So-called e-reverse auctions have now become established in most platforms .
Direct price negotiations
On the basis of standardized negotiations, prices are negotiated directly between the buyer and seller . The advantage here lies in the standardization of online processing . Strategic, irregular, non-standardized products and goods with a higher complexity are often traded. In most cases, these products can only be obtained from a few suppliers and require a comprehensive ordering and negotiation process.
Catalog management
The catalog management sees itself as the administration and the orderly and structured representation of electronic product catalogs and associated data and is designed to support the systematic purchase of standardized production goods for very specific industries . The pricing is based on unit prices. Essential steps in catalog management are checking and approving the catalogs transmitted by the supplier and forwarding them to the company's internal procurement systems. There the material is ordered directly by the company's employees. The product-related catalogs (sometimes for all participating companies) can be combined and stored centrally in an EMP as an intermediary-side catalog. The focus of this solution is on the automation of the ordering process. Bundling of demands is made easier and purchasing cooperatives are made possible. Most of the cost savings are realized by eliminating a middleman. An essential effect and advantage for buyers and sellers is the technical and semantic standardization of catalogs, as this allows efficient and effective coupling with the company's internal inventory control systems.
The prerequisite for the smooth functioning of the catalog management is a constant update and the mapping of the multi-client capability. Common formats for catalogs are, for example, BMEcat , xCBL and cXML .
Like auctions, catalogs also allow so-called spontaneous purchases (spot buying) with real-time offers from many providers. In this context, one also speaks of maverick purchasing .
Exchanges and online exchanges
Exchanges , the highest mechanism in the pricing evolution, work as a coordination mechanism between supply and demand and are often referred to as online exchanges . Bids are placed on the EMP by the buyers and not submitted directly to the seller . The EMP, who acts as a kind of middleman, then forwards the offers. The reason for this type of pricing is often the desired anonymity of the parties involved, as the identity of the buyer can allow conclusions to be drawn about solvency or contain strategic information. Mostly standardized goods are traded. In many cases, exchanges can be found on vertical EMPs.
regulation
To protect companies and consumers who use platforms, the European Union has passed a regulation to promote fairness and transparency in online intermediation services and online search engines; the regulation has been in force since July 12, 2020.
Individual evidence
- ↑ a b A. Benger: Design of value creation networks. GTO Verlag, Berlin 2007, ISBN 978-3-936771-96-1 , p. 29.
- ^ A b R. Clement, D. Schreiber: Internet Economy: Basics and case studies of the networked economy. Springer, Berlin 2010, ISBN 978-3-7908-2595-4 .