Week 1 Discussion 2

Week 1 Discussion 2

Ricardo Trinidad,

The marketplace is a physical space where people can visit, view a product or service and then decide if they can purchase it. Marketplaces are places like supermarkets or retail stores. The advantage of the marketplace is that people have to physically inspect and interact with the product to buy or exchange it with money or a service. The other benefit is people build more trust when they physically meet and talk face to face. The limitation of a marketplace is that people waste a lot of money to travel to a supermarket or retail store to buy a single Item. Sometimes such item may not be available and hence inconveniencing a customer.

Rico Richardson,

It is true that marketspace is the electronic equivalent of the marketplace. In marketspace, products, services or information is exchanged via the internet. That is, for people to exchange products or services, they must be connected to the internet using either their mobile computers or smartphones. The advantage of marketspace is convenience. Marketspace is available anytime everywhere. One only need a computer and an internet connection to make the exchange. Another advantage is the cost. One doesn’t need to travel to make the exchange. The limitation of marketspace is one has to rely on the promises of the vendor regarding the quality of a product or service.