Marketplace to Marketspace: A Big Change from Traditional Distribution Channels

Traditionally people used to go to a “marketplace” or a physical location to buy products. However modern technology changed that dramatically. The boundaries that used to confine distribution have faded with the introduction of the internet and e-commerce. Today, consumers can shop from anywhere at any time with very little restriction. They no longer need to make an effort to get to a physical location; instead they can make purchases from home, work or on the go. This expansion of the marketplace into a “marketspace” has drastically changed the way marketers view traditional distribution channels.

Distribution for most businesses has generally been regional; however, with the creation of the marketspace, businesses have expanded their reach exponentially. In addition to increasing the market potential, the marketspace has many other unique features that make it nearly impossible for businesses, both large and small, to ignore. For starters, the marketspace makes distribution possible across borders with minor limitations. It also offers businesses countless tools to gather an array of consumer information that facilitates sales. One such tool, Google Analytics allows businesses to gather information about consumer behavior on their sites; which can be used to segment the market, customize product offerings, and create more targeted ads, just to name a few.

Lastly and most importantly, the marketspace allows for interactive communication. Prior to e-commerce, marketing communications were always one-sided. Businesses talked and hoped consumers listened. Today, consumers are actively seeking out and even blatantly asking for information that’s relevant to them. Therefore, allowing businesses to engage in two-way conversations with their customers. On top of that, consumers also have the ability to voice their opinions and significantly influence other consumers or even business decisions. Bottom line, the marketspace has changed the landscape of traditional distribution and opened many doors for new and old businesses of all sizes.