Index
Executive Summary
1.0 - Introduction
2.0 - Internet Commerce
2.1 - Definition
2.2 - Business model
2.3 - Customer service
2.4 - Web 1.0, 2.0 and 3.0 Technology
2.5 - Impact of Global Financial Crises
2.6 – Cocooning
2.7 – Trends to watch – Mobile phone penetration and M-commerce
2.8 – Facts and Figures
2.9 – The Barter Economy
2.10 - The Network Economy
2.11 - The Attention Economy
2.12 – Knowledge Economy
2.13 – Not necessarily about money
3.0 – RSVP
3.1 – Business model
4.0 - Conclusion
5.0 – References
Executive summary
This report is aimed at providing an answer to the question of "What is the fundamental basis of Internet commerce?". It will provide an answer to this question by examining a business that makes extensive use of the Internet to generate its income, that business being the online dating site R.S.V.P..
1.0 - Introduction
If we define com1erce as the interaction of individuals for goods and services then it seems unlikely that the introduction of the Internet would change such a fundamental basis of human activity. However, the Internet does provide a medium that unique in human history as a method of connecting people together.
The massive changes that Internet technology have wrought and the speed at which they have been adopted is unprecedented in human history. Perhaps the most effective method of grasping this is via the following video - Did you know?
The methodology in which this report will attempt to answer the question will be to break it down into a number of distinct areas. The first of these will be a closer examination of exactly what Internet Commerce is. Here the focus will be on defining what Internet commerce is, highlighting the business models that operate in this environment such as network, attention and knowledge economies, how technology brings a whole new dimension to old world concepts such as 'customer service'. Even as new technologies evolve, such as Web 2.0, Internet commerce has continued to evolve and it is important to study the part that these are now beginning to play.
Even though Internet commerce focus on the 'virtual world' it is not immune from events in the real world as will be highlighted with effects of the recent Global Financial Crises and the trend towards 'Cocooning'.
The report will then focus on utilizing this information to examine a specific online business, that being R.S.V.P..
Examination will be made of their business model and exactly how they have been able to utilize the Internet to generate revenue.
Throughout the report the reader will find a mixture of multimedia items including, graphics, vidoes, links and more. This information is designed to provide more information that the reader may choose to examine to help them better understand some of information that is being presented here.
In conclusion it will be shown that although technology has not changed the fundamentals of economic commerce it has created a new environment in which it operates. It is this environment that is still more rapidly changing that ever before challenging not only traditional businesses but creating unique opportunities for businesses that do understand the unique opportunities that are now available.
The reader is encouraged to leave their feedback on the report which can easily be done via the comments facility.
2.0 - Internet Commerce
2.1 - Definition
Internet Commerce is using the Internet for creating and completing business transactions. Product or services such as membership is considered a business transaction. Transactions are usually conducted between two main categories business – consumer and business-business. While placing and fulfilling an order for product or request for service is the general view of what Internet Commerce is all about it is important, as technology improves, it is important to also understand the benefits afforded to areas of business such as supply chain management, customer relationships, business analysis, purchase or subscription decision making in Internet Commerce. There are certain markets that the Internet suits better than others. These include software, computers, flowers, music and travel and as more and more companies use the Internet as part of their business strategy, security of information, identity and fraud all need to be included in the mix to ensure the Internet Commerce strategy is successful.
2.2 - Business model
Internet business models are fluid, they need to be, due to the nature of the Internet itself. There have been many attempts made to categorize e-business models. Labels such as “advertising model, brokerage model, subscription model, affiliate model” (Rappa, 2009) have been put forward and as the Internet develops, new models appear. Yet despite these labels traditional models of business still apply to Internet commerce. The brokerage model for example, is based on the auction system used in traditional businesses, such as the buying and selling of wool. On the Internet this model is used successfully by companies such as eBay. The rapid rate of change in Internet technology means that successful businesses operating in this sphere need to be vigilant and adapt their business model to cope with change, or face the reality of losing out to competitors. Organisations that trade in both traditional and online methods can end up incorporating both online business models and traditional business models, to achieve their overall business objectives.
According to Rappa’s list of online business categories, R.S.V.P. and online business incorporates three business models.
a) Subscription Model as it is a person-to-person networking service where a membership fee is charged to join.
b) Infomediary model as they provide link to other companies who for example provide financial services or film reviews. Finally RSVP also include some of an
c) advertising model as advertising links exist for a credit card company.
2.3 - Customer Service
Good customer service is central to any business strategy regardless if the company is a traditional bricks and mortar company or new e-business. Do it right and it will help revenues grow, do it wrong, as United Airlines recently discovered, it can wipe millions off your share price. Customer Service in e-commerce is more than having a ‘contact –us’ number on a web site. It’s about utilising all aspects of the Internet to communicate with customers, including email, telephone, live chat room – which allow business provide real time assistance to web site visitors –to social networking sites. However, the latter is often used more effectively by the customer and not by companies.
Some very large companies have been subjected to customers or staff using social networking to make a point about issues about bad customer service. Toyota and United Airlines are two to mention. A song posted on YouTube by an irate customer who had his guitar broken at the baggage handing end of a United Airlines flight. His frustration of the lack of understanding by the airline to his problem forced him into posting his song. To date it has received over eight million hits. In the first four days of the song being posted, United Airlines stock fell 10% wiping $180 million off the share price, which equates to replacing 51,000 guitars. (seoptimise.com, 2009 –needs fixing).
United Break Guitar
Hampton Toyota
Starbucks Baristas
While one person managed to broadcast his frustration with a company to millions of people in a very short time, the same company misunderstood the value of social networking sites in their customer service strategy and only receive 100,000 hits to their YouTube Channel. United Airlines have not only lost out financially but have totally mis-understood the customer.
One way to understand the customer, and thereby provide superior customer service, is to take advantage of the ability to collect information about customer over the Internet. A key advantage of doing business on the Internet is the ability to be able to validate data at the time of placing an order for a product or service. This helps towards preventing errors and adds to a positive customer experience. Collecting details allows for loyalty programs to be set up, a better understanding of customer preferences (Rappa, 2009) and the ability for business to offer products and services offered to match customer profiles.
In a survey conducted into Customer Service by Retail Systems Research. Nikki Baird, managing director of Retail Systems Research "Shoppers have choices like never before. Therefore, understanding customer needs is essential--and serving them accordingly is critical." (Greenberg, 2007)"
2.4 - Web 1.0, 2.0 and 3.0, Technology
The Internet, and specifically the evolution from Web 1.0 technology to Web 2.0 technology, has given consumers the ability to spread messages in an instant, research and acquire information from all over the world, search for products and compare prices and ultimately make or break a brand by sharing their experiences. Web 2.0 has placed power increasingly in the hands of consumers (Euromonitor International, 2008 PTC).
The difference between Web 1.0 and Web 2.0 has been the change from “visiting” to “participating”. Traditionally businesses had static websites, which provided basic data on their product or service.
Web 2.0 is the second generation of Internet applications such as social networking sites, wikis and communication tools, which have been designed for the consumer to share information (Euromonitor International, 2008 PTC).
Web 3.0 will take the Internet to a whole different level, connections will come from many different appliances, to enable better profiling of a consumer and therefore enabling marketers to provide more appropriate solutions (Euromonitor International, 2008 PTC).
‘Consumer Power’ or the ability to participate and be heard has largely been responsible for the rapid growth of Internet Usage, ‘Consumers inform, learn, entertain, work, shop, bank and communicate’ (Euromonitor International, 2008 PTC).
‘In the US, some 5 million people now post or share material on the Internet through their own blogs and other content-creating applications. Around 4 million share music files on peer-to-peer networks; and 3 million people use the Internet to rate a person, product or service. It was estimated in 2005 that 53 million Americans (some 25% of adults) used on-line banking, and that this was the fastest growing on-line activity since 2002 – especially among Internet users with high-speed connections, those with six or more years of experience, and those between 28 and 39 years old’ (Euromonitor International, 2008).
Internet connections are now the norm in most markets; the next wave of adoption is the increase of Internet access mobile devices. ‘The rapid growth of Internet-based devices in the home means that broadband has virtually become another essential utility, on a par with power, light and water’ (Euromonitor International, 2008). Convenience has led to increasing demand for Mobile connections. Euromonitor International estimates that there were some 1.38 billion Internet users worldwide in 2007, representing more than double the number recorded in 2002 (Euromonitor International, 2008).
2.5 - Impact of Global Financial Crises on Internet
The increase in Internet adoption and usage can also be attributed to the effect of the Global Financial Crisis (GFC). ‘Consumers have begun to look to cut costs in whichever way they can, and this means trawling the net for the lowest prices and best value – whether by reading more blogs and reviews for recommendations, using price comparison sites or shopping from discount sites’ (Euromonitor International, 2008).
Although retailers have moved from bricks-and-mortar to online shopping the Internet has seen a trend towards comparison sites and discount retailers.
‘On-line price comparison sites (also known as shopping comparison sites or price engines) allow on-line consumers to see lists of prices for specific products. Most price comparison services do not sell products themselves, but source prices from retailers and allow users to click on a link to these retailers’ (Euromonitor International, 2008).
Here is an example, Gauchotexts.com, an online price comparison site:
An on-line price comparison site collects data directly from the retailer; they can also trawl the Internet for prices on popular products. Users are generally not charged to use the service however retailers are charged for the traffic that links back to their site (Euromonitor International, 2008). E-commerce has offered consumers convenience and a wider choice of products, as well as competitive prices. Even after many markets have recovered consumers seek out the best deals on-line, even when they had more money to spend (Euromonitor International, 2008).
2.6 - Cocooning
9/11 has influenced the behavior of millions of people throughout the world. The increase in terrorist attacks and media reports about crime have played a key role in the trend towards ‘cocooning’. The trend towards cocooning has been supported by technological advances that have allowed consumers to shop, bank and play games from home. Wi-fi, which stands for wireless Fidelity, is a networking technology that allows devices to communicate without wires (wisegeek.com, 2010).
Technologies such as Wi-fi make it increasingly easy to perform necessary tasks on-line. ‘In addition, growing numbers of people have taken to working from home, making them more familiar with communicating with the outside world through electronic mediation’ (Euromonitor International, 2008).
2.7 - Trends to watch - Mobile Phone penetration & M-Commerce
The number of mobile phone users worldwide is estimated to have reached almost 3.2 billion in 2007. This represents a massive rise of 172% since 2002. Penetration has passed 100% in several markets, including Australia. ‘Australia’s mobile penetration having climbed past the 115% mark last year, strong growth remains in sight. Mobile broadband, smartphone and application innovations will drive near-term growth whereas multiple devices, concierge services and machine-to-machine will be key in the longer term’ (Telsyte, 2010). There are surprises when levels of penetration of mobile phones are compared, with no obvious correlation between per capita wealth and ownership (Euromonitor International, 2008).
M-Commerce is an extension of E-Commerce, which enables consumers to access the Internet on their mobile phones in the same way they would from a desktop computer. The development of 2.5G and 3G mobile phone services has made m-commerce possible. ‘M-commerce growth is being driven largely by the youth market, among which mobile products, such as ringtones, games and graphics, are to some extent replacing spending on traditional youth products, such as music, clothing and movies’ (Euromonitor International, 2008).
2.8 - Facts and Figures
Internet shopping, or e-commerce, represents an area of explosive growth, with global sales soaring by 211% since 2003, to reach a value of US$252.7 billion in 2008 (Euromonitor International, 2008).
Internet Shopping Sales in Selected Markets 2003/2008
| US$ million | 2003 | 2008 | % growth |
| USA | 37,426.4 | 99,198.8 | 165.1 |
| United Kingdom | 8,515.8 | 32,819.7 | 285.4 |
| Japan | 10,164.2 | 24,043.1 | 136.5 |
| Germany | 5,772.5 | 19,125.6 | 231.3 |
| France | 2,246.5 | 16,521.8 | 635.4 |
| South Korea | 4,700.4 | 12,711.5 | 170.4 |
| Brazil | 399.8 | 4,613.2 | 1,053.9 |
| Russia | 638.3 | 4,130.4 | 547.1 |
| Netherlands | 636.8 | 3,155.5 | 395.5 |
| Italy | 487.8 | 2,753.9 | 464.6 |
| Spain | 849.4 | 2,382.2 | 180.5 |
| Canada | 1,202.3 | 2,217.9 | 84.5 |
| Finland | 527.1 | 1,866.6 | 254.1 |
| Denmark | 338.0 | 1,703.3 | 403.9 |
| Australia | 566.0 | 1,541.3 | 172.3 |
Source: Euromonitor International Power to the Consumer: How Web Technology Is Influencing Behaviour
Internet Shopping as a % Total Retail Sales by Market 2003/2008
| US$ million | 2003 | 2008 |
| South Korea | 4.4 | 7.8 |
| United Kingdom | 2.1 | 5.6 |
| Malaysia | 1.7 | 4.5 |
| USA | 1.8 | 3.9 |
| Finland | 1.8 | 3.7 |
| Germany | 1.3 | 3.2 |
| Denmark | 0.9 | 3.1 |
| France | 0.6 | 2.9 |
| Czech Republic | 0.6 | 2.6 |
| Netherlands | 0.7 | 2.5 |
| Japan | 1.0 | 2.3 |
| Brazil | 0.6 | 2.0 |
| Sweden | 0.9 | 1.9 |
| Norway | 1.2 | 1.7 |
| Switzerland | 1.0 | 1.6 |
| Poland | 0.4 | 1.4 |
| Belgium | 0.4 | 1.4 |
| Russia | 0.6 | 1.3 |
| Ireland | 0.7 | 1.2 |
| South Africa | 0.9 | 1.1 |
| Austria | 0.7 | 1.0 |
| Australia | 0.6 | 0.9 |
Source: Euromonitor International Power to the Consumer: How Web Technology Is Influencing Behaviour
2.9 - The barter economy
Barter Economy A Barter Economy, which may be regarded, as the most basic form of economic exchange, is alive and occurring on the Internet. ‘It (Barter Economy) is the most primitive and very basic economic theory, which does not consider currency as a medium of exchange. Rather, commodities and services are considered to be the means of all exchanges, as money was unknown to man in ancient times’ (Economy Watch, 2010). There has been a recent surge of online bartering; businesses are conserving their cash trading products, services and skills (Business Knowhow, 2010).
The legal editor of SBTV.com explains how Bartering is good for small businesses:
Barter and trading websites such as SwapIt, WebSwap, Intellibarter, ExchangeAnything, SwitcHouse, Swap, Lassobucks, and others, let visitors swap new or used personal items for things they would prefer to have. Sites like these make revenue from advertisers and commonly with Business to Business transactions, commissions from the exchange (Business Knowhow, 2010).
2.10 - The Network Economy
Put simply, a network economy is an economic system where members of a specific group, or network, exchange goods, services or values. This could be a large internet based company like eBay, which is made up of members who are buying and selling goods, or an internet start up company like the developers of Wiggio, who develop and promote collaborative software which is then provided free of charge to members of the network who sign up for it. Growth is, as Kelly puts it, “non-linear” – Kelly (1997) uses the example of Microsoft, who made very little profit in their first ten years of operation. Using the example of Wiggio, this software was introduced to the public in 2008, yet the developers do not plan to make a profit until 2011 (Rusli, 2010). In a network economy, value is added through the size of the network, rather than the product/service being exchanged. Kelly (1997) describes this as the “law of plenitude”. Value then grows as it “explodes exponentially with membership” (Kelly, 1997). A networked economy is also all about connectivity. Rifkin (2001, p3) describes “the essential feature of commercial business in cyberspace is connectedness.” Using the internet, individuals and companies can connect to one another on a global basis almost instantaneously.
Leibowitz argued that the network economy is not anything new. The internet may have sped up the access of information, but has not provided anything new.
Leibowitz (2002, p6) describes how with the internet, he can “find someone to date, with a set of characteristics that I specify,and also look at her pictures and read her biography”. This (dating) isn’t something new, but has been made simpler with the internet.
Liebowitz (2002, p7) also discussed “network effects”, where a “product becomes more useful to consumers in proportion to the number of people using it”. With R.S.V.P., the site obviously becomes more useful as more and more people use it, as there is a wider pool of potential dates to choose from. According to Liebowitz (2002, p10), network effects and economies of scale “have almost identical impacts”. This results in “with everything else being equal, consumers should be willing to pay more to join a large network”, as larger networks have stronger network effects than small ones. eBay is a company with strong network effects (Liebowitz, 2002, p14), buyers flock to eBay because the site has the largest number of used goods available for sale.
2.11 - The Attention Economy
“Attention is the new currency of business and of the world itself.” (Davenport, 2001)
Herbert Simon wrote about the “Law of Information” in which he said “a wealth of information creates a poverty of attention and a need to allocate that attention efficiently among the overabundance of information sources that might consume it" (Simon 1971, p. 40-41). With the internet, it is attention, and not money or information, that is the most important scarce resource, and results in what Goldhaber called the “Attention Economy” (Goldhaber, 1997).
There is no doubt that the exponential growth of the internet in recent years and the explosion of Web 2.0 technologies have led to an information overload - “we both enjoy and drown in news, blogs, podcasts, photos and videos” (Iskold, 2007). Going online means being bombarded with information – taking news sites as an example, a user may wish to just read the latest news headlines, but the page will contain advertisements, videos of news footage, links to blogs, Twitter and Facebook, sponsored links, photos and other images. This causes us to just “skim the news instead of reading it properly” (Iskold, 2007).
Several economic principles are built around scarcities. However, Goldhaber (1997) argued that the term “information economy” was inadequate to describe what was happening on the internet, because information was not scarce. In fact it is the opposite, as there is an over-abundance of information. Davenport and Beck (2002) argued that “What’s in short supply is human attention. Telecommunications bandwidth is not a problem, but human bandwidth is”.
An important point with the Attention Economy is choice. It is the consumer who decides where they are going to “spend” their attention (Iskold, 2007). Iskold points out that “relevancy” is important too – the relevancy of the content will determine how much time and attention the consumer will give. The attention consumers give to websites is either explicit or implicit. When a user bookmarks a page on Delicious, this is an example of explicit attention. A user who continually re-visits the same page is providing implicit attention. (Iskold, 2007).
Source: http://www.readwriteweb.com/images/attention/AttentionEconomy_concept.png
So what is the ultimate purpose of the Attention Economy? Iskold (2007) described it as “to facilitate a marketplace where consumers agree to receive services in exchange for their attention. The end goal is to sell something to the consumer, but the selling is not necessarily direct or instantaneous.” What is the most valuable aspect of the Attention Economy? In a word, eyeballs! Well-known and popular websites are described as having “high value” because “that's a lot of eyeballs to sell to advertisers, and everyone expects that as the Web is always increasing in popularity, that will mean even more eyeballs in future.” (Gauntlett, 2004).
2.12 - The Knowledge Economy
2.13 Not necessarily all about money
Internet companies, such as eBay and Amazon, are evolving to become more like social networking sites. Both have “communities” and discussion forums, while also offering greater personalisation of consumer pages. In addition to its regular feedback and other features, eBay recently added a “MyWorld” page for sellers, which offers the opportunity to contribute to a personal blog, as well as offer a “Guest Book” option for buyers to leave comments or suggestions.
In 2007, Amazon began offering a digital music download service, with songs from over 12,000 record labels. In order to compete with the likes of YouTube, Amazon also introduced podcasts under the four channels Amazon BookClips, Amazon Wire, Music You Should Hear and Significant Seven, which offer free exclusive content.
In Japan, Amazon reacted to the trend towards using mobile devices for Internet shopping by launching Amazon Scan Search, which allows consumers to use their phones to take a picture of a barcode and have the best price available for this product through Amazon displayed on their device. This also enables the company to gain a better insight of what consumers buy from bricks-and-mortar stores, and can feed into ideas for the future enlargement of the website’s product offer.
Web 2.0 can be of value to companies by allowing them to design and assemble products with input from their customers. Some examples of Web 2.0 business models that attempt to generate revenues in on-line marketplaces are referred to as “social commerce” and “social shopping”. Social commerce involves user-generated marketplaces, where individuals can set up on-line shops and link their shops in a networked marketplace, drawing on the concepts of both e-commerce and social networking. Social shopping involves customers interacting with each other while shopping, typically on-line, and often in a social network environment.
As consumers of rich content become more savvy, delivery mechanisms becomes less prominent, and the ability to create compelling experiences that meet business needs efficiently and effectively takes a higher priority. The possibilities are endless, especially with rich Internet applications (RIAs) which are designed to deliver the same features and functions associated with desktop applications but which do not require the installation of software.
3.0 - RSVP
3.1 Business model
R.S.V.P. success as an internet business is based on the business niche that it has found (or made) for itself. As the three specific types of Internet models discussed by Rappa apply to the basic theory, or the “what” of a business model, the comments by Jeffery Rayport (1999) provide some understanding of the success of the business. He discusses that the various types of business models themselves are not the total solution, as the success of the business is largely dependent on the art of management. This art is shown in its role as a B2C (Business to Consumer) provider, R.S.V.P. follows on in the e-business tradition of Yahoo, Google or AOL in that it will provide a virtual business environment for its clients or consumers to interact. A market maker definition (Mahadevan, B. 2000) can also be attritribted to R.S.V.P. as a modelling difference, as Mahadevan explains “a market maker in an Internet context will not take possession of goods. Instead, it will play the role of match making and facilitate the transaction between the buyer and the seller in many ways” The consumer at R.S.V.P. is, in Mahadevan’s contect, also the buyer and seller. They offer themselves as the good’s in the transaction (the seller) and they then look to place these goods with a consumer (the buyer), using R.S.V.P. as the virtual vehicle that has been chosen.
4.0 – Conclusion
This report has considered in detail the question of "What is the fundamental basis of Internet commerce?". It has achieved this by firstly examining what Internet commerce is and how traditional concepts such as business models and customer service operate in the virtual world. It has also considered the role of technologies such as the World Wide Web in general and newer technologies such as Web 2.0 have impacted how commerce is conducted. Even though Internet commerce could be considered ‘virtual’, that is without a geographic location, it is however not immune from the effects of real events such as the Global Financial crises and Cocooning. As such both of these factors have been analysed for their impacts on Internet commerce.
The report has highlighted the fact that Internet commerce has created some new features of the economy including the Network Economy, the Attention Economy and the Knowledge Economy. Given their importance to the field of Internet commerce this report has also examined these in detail.
To better demonstrate the fundamental basis of Internet commerce the report has analysed a major Internet business that being the online dating service R.S.V.P.. Through this analysis it has found that it confirms many of the previous findings of the report and demonstrates how important the factors are to R.S.V.P..
In conclusion, this report has shown that although Internet commerce has created many new and varied forms of commerce at its core the fundamentals have not changed. What has changed, however is the speed at which transactions are taking place and the opportunities it provides for all businesses no matter how small they are.
5.0 - References
Introduction
Did you know. Retrieved 11 July 2010 from
http://www.youtube.com/watch?v=cL9Wu2kWwSY
Section 2.3
United breaks guitar. Retrieved 11 July 2010 from
http://www.youtube.com/watch?v=5YGc4zOqozo
Hampton Toyota. Retrieved 11 July 2010 from
http://www.youtube.com/watch?v=A6TV3ciX6pQ
Starbucks barista tells the real story. Retrieved 11 July 2010 from
http://www.youtube.com/watch?v=CdnyVrTwqoo
Section 2.7
REFERENCES:
(2008) Euromonitor International - Power to the Consumer: How Web Technology Is Influencing Behaviour
Telsyte (2010) Multi-device Use, Concierge Services and M2M to Drive Australia's Mobile Penetration Beyond 130%, predicts Telsyte, Monday 3rd May 2010 http://www.telsyte.com.au/documents/MediaRelease030510.pdf
http://www.wisegeek.com/what-is-wifi.htm
http://www.economywatch.com/economy-articles/barter-economy.html
Barter: A Strategic
Tool for the New Economy
By Richard L. Cravatts
http://www.businessknowhow.com/money/barter.htm
Section 2.8
References:
http://www.businessdictionary.com/definition/knowledge-economy.html
Iskold, A (2007) The Attention Economy: An Overview. Read Write Web. Retrieved 3rd July 2010 from http://www.readwriteweb.com/archives/attention_economy_overview.php
Kelly, K. (1997, September). New Rules for the. New Economy: Twelve Dependable
Principles for Thriving in a Turbulent World. Wired. Retrieved 29th
June 2010 from http://www.wired.com/wired/archive/5.09/newrules_pr.htmlKelly
Leibowitz, S.J. (2002). Basic economics of the internet from Re-Thinking the Network
Economy: The True Forces that Drive the Digital Marketplace. New York: Amacom.
(pp. 9 - 24). Retrieved from Curtin e-Reserve 29th June 2010.
Pinchot, G (1995) The Gift Economy In Context A Quarterly of Humane Sustainable Culture. Business on a Small Planet IC#41. Retrieved 3rd July, 2010 from http://www.context.org/ICLIB/IC41/PinchotG.htm
Rifkin, J. (2001). When markets give way to networks from The Age of Access: The New
Culture of Hypercapitalism, Where all of Life is a Paid-For Experience. Tarcher
Penguin Putnam. (pp 3-29. Retrieved from Curtin e-Reserve 30th June 2010.
Rusli, E (2010) Wiggio raises $2.1 million, Prepares for Mobile Launch and Profit (hopefully) Tech Crunch 11/5/2010. Retrieved 15th June 2010 from http://techcrunch.com/2010/05/11/wiggio-raises-2-1-million-prepares-for-mobile-launch-and-profits-hopefully/
Section 2.8
References
Davenport, T (2001) May we have your attention please? Ubiquity Volume 2001 Issue May, May 1 - May 31, 2001 Retrieved July 10th 2010 from http://www.acm.org/ubiquity/interviews/t_davenport_3.html?CFID=94409092&CFTOKEN=26648670
Davenport, T & Beck, J (2001) The Attention Economy Understanding the New Currency of Business Harvard Business School Press. Retrieved July 10th 2010 from http://hbr.org/product/attention-economy-understanding-the-new-currency-o/an/441X-HBK-ENG
Gauntlett, D. (2004). Basic Web Economics: How things work in the 'attention economy'. newmediastudies.com. Retrieved July 1st, 2010 from Available: http://www.newmediastudies.com/economic.htm
Iskold, A (2007) The Attention Economy: An Overview. Read Write Web, 1 March, 2007. Retrieved July 2nd 2010 from http://www.readwriteweb.com/archives/attention_economy_overview.php
Iskold, A (2007) Towards The Attention Economy: Will Attention Silos Ever Open Up? Read Write Web, July 30th 2007. Retrieved July 2nd 2010 from http://www.readwriteweb.com/archives/towards_the_attention_economy_opening_silos.php
Simon, H. A. (1971), "Designing Organizations for an Information-Rich World", in Martin Greenberger, Computers, Communication, and the Public Interest, Baltimore, MD: The Johns Hopkins Press, ISBN 0-8018-1135-X.
Image Source:
http://www.readwriteweb.com/images/attention/AttentionEconomy_concept.png
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