Rayport and Sviokla did not present a formal definition of marketspace in their original Harvard Business Review paper but describe its characteristics. In synthesis marketspace is an information-defined transaction space where value is created and extracted. It exists in parallel to physical marketplaces and marketplace transactions. A marketspace transaction is different from marketplace transactions. According to Rayport and Sviokla both differ in terms of content, context, and infrastructure. The content of the transaction is different because the marketspace replaces actual goods and services with information about goods and services. The context differs substituting face-to-face interactions with technology mediated transactions, for example electronic, on-screen interactions. Finally the infrastructure that enables the transaction to occur differs. Connected electronic devices such as computers replace a physical marketplace such as a mall. • Dholakia, N., Darmody, A., Zwick, D., Dholakia, R. R., & Fırat, A. F. (2021). Consumer Choicemaking and Choicelessness in Hyperdigital Marketspaces.
Journal of Macromarketing, 41(1), 65-74. == Impact ==