Klein and Quelch 1997 drafted 18 elements which falls under 2 main categories

Klein and quelch 1997 drafted 18 elements which falls

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Klein and Quelch (1997) drafted 18 elements which falls under 2 main categories (Table 4). Their framework is concerned with the new electronic Market Makers (MM) - a viable model in traditional distribution channels whose capabilities were not widely expanded by the introduction of electronic commerce. This model emphasises on transformation emerging from Internet as a medium for marketing. In their study, the model explained whether the electronic MMs can fulfil one or more channel functions for
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buyers and sellers more efficiently than traditional marketing. Electronic MMs expanded the market so that buyers and sellers, primarily smaller ones, who may have enjoyed only limited access to traditional distribution channels, can now participate on a more level playing field (Klein and Quelch, 1997). In the case of real estate business, this model can be used as a guideline to market property efficiently. Table 4: Klein & Quelch’s Internet Business Strategy Elements Channel functions Order processing Assortment Credit and finance Bulk breaking Market coverage Market news/information Customer service Fulfilment Inventory holding Classifieds Web hosting services Process Characteristics Anonymity Credit risk reduction Market maker ownership options Negotiation format Membership exclusivity Revenue resources Existing business off-line However the Klein and Quelch (1997) survey was mainly for business to business market maker. For the purpose of this research, some modifications were made to suit the local environment. Ibrahim (2006) produced several features of commercialised real estate portals. According to him, real estate web sites must provide the following services: 1. virtual tours 2. property listings 3. transactions information 4. market analysis 5. project information 6. online valuation 7. online forum 8. property news 9. property FAQ 10. online calculator 11. lifestyle contents The matrix of internet business strategy for this research was outlined based on frameworks by several authors above. This matrix will evaluate the property development companies in terms of internet business strategy. A score will be given for each of the variable that the companies implemented in their organisation. A scatter plot analysis was used to generate a ranking and score mean among the companies.
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INTERNET BUSINESS STRATEGY MATRIX ] For this research, a new internet business strategy matrix was developed that takes into account several attributes highlighted by several authors such as Rowley (2004), Klein and Quelch (1997) and Ibrahim (2006). These attributes were modified by considering the local environment of property business in Malaysia. Table 5 tabulates all attributes for the internet business strategy matrix for the purpose of evaluating the property developers selected for this study.
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