79). In this chapter,
we argue that in the context of e-marketplaces, intermediaries have evolved into
infomediaries that add value to their stakeholders by deciphering complex product
information and matching buyers??™ needs with sellers??™ products and/or services. Grover
and Teng focus on the critical information-providing role of the market and identify
the roles played by electronic intermediaries, or infomediaries. An infomediary is
an emergent business model adopted by organizations in response to the enormous
increase in the volume of information available and the critical role of information
in enabling processes in electronic markets. Infomediaries perform an indispensable
function by matching buyers??™ needs with suppliers??™ products and services to
facilitate transactions. There is a wealth of market information exchanged through
the infomediaries as they perform these functions. As a result, Infomediaries become
vital resources of knowledge about the nature of exchanges in the e-marketplace.
An analysis of the infomediary business model shows that individual buyers and
suppliers seek distinct goal-oriented information capabilities from the infomediary
??”they provide decision parameters through their individual demand or supply
functions.
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