Lesson 2 the transformative impact of new market models is modest

At the peak of internet enthusiasm it seemed anything was possible, and that the old rules for reaching and serving markets were about to be overturned. Extravagant pronouncements about the possibilities for reverse auctions, open exchanges, buying groups, infomediaries and name-your-own price models captured the collective imagination. One reason these forecasts had credence was that no one had any meaningful experience they would use to appraise the claims. Now we have the experience and the myths have been dispelled. Our results confirm what others have found; these models have limited or negligible roles in most markets. None of the new market models was judged to be a major threat by more than seven percent of the B2B respondents. The reasons the fears of established firms have abated differ for each of the internet market models, but the net effect is that they are having little impact on customer-supplier relationships.

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