Business communities are beginning to form e-marketplaces, enabling them to automate and leverage transactions with one another as a community. By bringing together large numbers of buyers and sellers, e-marketplaces give sellers access to new customers, expand the choices available to buyers and reduce transaction costs.
A Web site that enables buyers to select from many suppliers. E-marketplaces -- which focus on putting the buyer in control -- are buying environments that aggregate supplier content and provide decision support tools that enable a buyer to make the most informed decision.
A company, service provider or association that brings together buyers and sellers in one virtual place, where participants can reduce costs and reach new customers.