Electronic marketplace definition and classification: literature review and clarifications

The definitions and classifications of any new phenomenon build a strong foundation for further research. Although research on electronic marketplaces (EMs) has proliferated in recent years, related definitions and classifications are still confusing and misleading. The purpose of this paper is to perform a review of the EM literature, and to clarify and explain published information about electronic marketplaces. For EM definitions, we emphasise (1) the difference between EMs as governance structures and as business models, and (2) EMs at different levels of centralisation. For EM classifications, we summarise nine of the most commonly mentioned classifications, and examine the differences and correlations among them. By doing so, potential confusion and common misunderstanding about the different EM definitions and classifications are clarified.