Framework for Participants' Recognition of Key Success Factors in Electronic Marketplaces

The development of electronic marketplaces has been prolific in the last five years and the pressure for companies to participate, before they have determined how to recognise the benefits and pitfalls, has been intense. This has left prospective participants facing a wide variety of choices in the selection of potential trading sites, in a marketplace that is both dynamic and immature. Although there are different drivers pushing companies towards participation, an appreciation of how electronic marketplaces are developing their trading models can support the selection process and enhance the trading experience of the participants.Electronic marketplaces were selectively chosen and analysed against key success factors, previously identified in the literature, to examine how market makers are recognising the issues they need to address in developing their marketplaces. The analysis also highlights concerns that remain in regard to some of the key success factors, particularly in the areas of security, technological infrastructure and neutrality. The findings are used to provide a framework that facilitates recognition by prospective participants of the key success factors of an electronic marketplace and the issues surrounding them and thereby contributes to the selection of a trading site to meet a company's requirements.

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