Klein and Quelch (1997) drafted 18 elements which falls under 2 main categories (Table 4). Theirframework is concerned with the new electronic Market Makers (MM) - a viable model in traditionaldistribution channels whose capabilities were not widely expanded by the introduction of electroniccommerce. 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 thatbuyers and sellers, primarily smaller ones, who may have enjoyed only limited access to traditionaldistribution channels, can now participate on a more level playing field (Klein and Quelch, 1997). In thecase of real estate business, this model can be used as a guideline to market property efficiently. Table 4: Klein & Quelch’s Internet Business Strategy ElementsChannel functionsOrder processingAssortmentCredit and financeBulk breakingMarket coverageMarket news/informationCustomer serviceFulfilmentInventory holdingClassifieds Web hosting servicesProcess CharacteristicsAnonymity Credit risk reductionMarket maker ownership optionsNegotiation formatMembership exclusivityRevenue resourcesExisting business off-lineHowever the Klein and Quelch (1997) survey was mainly for business to business market maker. For thepurpose 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, realestate web sites must provide the following services:1.virtual tours2.property listings3.transactions information4.market analysis5.project information6.online valuation7.online forum8.property news9.property FAQ10.online calculator11.lifestyle contentsThe matrix of internet business strategy for this research was outlined based on frameworks by severalauthors above. This matrix will evaluate the property development companies in terms of internet businessstrategy. A score will be given for each of the variable that the companies implemented in theirorganisation. 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 severalattributes 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 inMalaysia. Table 5 tabulates all attributes for the internet business strategy matrix for the purpose ofevaluating the property developers selected for this study.