Authors: Carla C.J.M. Millar, Chong Ju Choi, Hartley Millar
Addresses: School of Business, Public Administration and Technology, University of Twente, The Netherlands. ' Department of Shipping, Trade and Finance, Cass Business School, City University, London EC1Y 8TZ, UK. ' Management Partners, (Europrofile Limited) London W1H 7LD, UK
Abstract: With perfect information an economically rational market is expected. In the ICT age the introduction of a shopping/price comparison facility (Froogle) by a company with a search reputation as pre-eminent as Google leads to the expectation that it will allow comparison of products in terms not only of price but also of other aspects to an extent that appears to approach perfect information. Telecommunications and media companies and even retailers such as Wal-Mart increasingly see such initiatives as a competitive and strategic threat. This paper proposes a conceptual framework within which to analyse the strategic impact of consumer information channelled through global market search. In this we distinguish between information signals and knowledge indices arguing that the specific properties of information signals as distinct from knowledge indices and the critical role of intangibles place limits on the ability of purely fact-based search to eliminate |friction| in markets.
Keywords: consumer information; Google; intangibles; information signals; knowledge indices; global market search; market friction; strategic impact; product comparison.
International Journal of Technology Management, 2008 Vol.43 No.1/2/3, pp.96 - 106
Published online: 11 Jul 2008 *Full-text access for editors Full-text access for subscribers Purchase this article Comment on this article