Abstract
This article presents the open-market paradigm in the context of digital convergence and proposes strategic directions for open-market participants. Although not a new phenomenon, open market has become the most popular e-business model, linking millions of buyer and seller individuals (Customer to Customer: C2C). This article examines the drivers of digital convergence that enable the open-market paradigm and conducts industry and Blue Ocean analyses for open-market business. Finally, a real-world application—the Cyworld market of Korea—is presented as an illustrative example.
This is a preview of subscription content, access via your institution.
Reference
Anderson C (2004) The long tail. Wired Magazine. http://www.wired.com/wired/archive/12.10/tail.html. Retrieved 2 Feb 2008
Auction.com (2007) Summary of current internet fashion market and clothes sourcing. http://www.sellerinside.com/admin/upload/edu/bbs/%5B20070516165724%5D07newsailer_5.pdf. Retrieved 28 Feb 2008
Bauer JM, Weijnen MPC, Turk AL, Herder PM (2001) Delineating the scope of convergence in infrastructures: new frontiers for competition. The 5th international conference in technology, policy and information, pp 1–13. http://nelson.kcnsystems.com/pmco/module1/coursematerial/Journal_L7_Delinearing_the_scope_of_convergence_in_infrastructures.pdf. Retrieved 2 Jan 2008
Cyworld.com (2008) Introduction of the company. SK Communications. http://www.cyworld.com. Retrieved 20 Feb 2008
European Commission (1997) Green paper on the convergence of the telecommunications, media and information technology sectors, and implications for regulation. Towards an information society approach, COM (97) 623, Brussels 3, December. http://www.itb.hu/dokumentumok/green_paper/. Retrieved 25 Jan 2008
Gartner (1999) When to leap on the hype cycle, Research Note DF-08-6751 Gartner Group. Stamford: unpublished
Greenstein S, Khanna T (1997) What does industry convergence mean? In: Yoffie DB (ed) Competing in the age of digital convergence. HBS Press, Boston, pp 201–226
Hewlett Packard (2005) The business benefits of digital convergence. http://h30046.www3.hp.com/solutions/digital_converg.pdf. Retrieved 1 Feb 2008
Info org (2005) Convergence Definition. Info.org. http://www.linfo.org/convergence.html. Retrieved 20 Jan 2008
Jung HJ (2006) Industrial information: observe the changes in the internet shopping paradigm. LG Weekly Economy
Kaluza B, Blacker Thorsten, Bischof Christian (1999) Implications of digital convergence on strategic management. The current state of economic science 4, Spellbound Publications. http://www.manufacturing.de/download/9803.pdf. Retrieved 23 Jan 2008
Kim DS (2007) Becoming open market owner earning $100,000 per year. Korea Economy News Paper. http://blog.hankyung.com/gia1004/l1251. Retrieved 14 Feb 2008
Kim WC, Mauborgne R (2004) Blue ocean strategy. Harv Bus Rev 82:76–84
Kim WC, Mauborgne R (2005) Blue ocean strategy: from the theory to practice. Calif Manag Rev 47:105–121
Kwon KD, Choi BS, Lee SH (2007). CEO information: changes in society and corporations lead by Web 2.0. www.jacelee.com/blog/attachment/2168324209.pdf?TSSESSION=5e07279036438ea02b984db22d11255. Retrieved 16 Feb 2008
Lind J (2004) Convergence: history of term usages and lessons for firm strategists. http://userpage.fu-berlin.de/~jmueller/its/conf/berlin04/Papers/1_LIND.doc. Retrieved 20 Jan 2008
Park J-H (1999) New business paradigms in the emerging digital society. J Reg Dev 5:139–155
Porter ME (1988) Competitive advantage. Techniques for analyzing industries and competitions, 2nd edn. The free Press, New York
SohoWorld (2008) Golden items brining success. http://www.sohoworld.co.kr/soho/board.php?board=stinfoexam&page=11&sort=rand()&command=body&no=1204. Retrieved 28 Feb 2008
Yoffie DB (1996) Competing in the age of digital convergence. Calif Manag Rev 38:31–52
Author information
Authors and Affiliations
Corresponding author
Rights and permissions
About this article
Cite this article
Jeon, S., Park, S.R. & Digman, L.A. Strategic implications of the open-market paradigm under digital convergence: the case of small business C2C. Serv Bus 2, 321–334 (2008). https://doi.org/10.1007/s11628-008-0047-1
Received:
Revised:
Accepted:
Published:
Issue Date:
DOI: https://doi.org/10.1007/s11628-008-0047-1
Keywords
- Customer to Customer (C2C)
- Open-market
- Business strategy
- Blue Ocean analysis
- Case study