Klein and quelch 1997 drafted 18 elements which falls

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

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.

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.