Non-market production of information has been gaining ground for the last 15 years or so. New social forms of information production, facilitated by networks are becoming counter intuitive to people living in market-based, economies. Individuals can reach and inform million others around the world. This fact has led to the emergence of coordinated effects, where the aggregate effect of individual action, even if it is not self-consciously cooperative produces the coordinated effect of a rich information environment. Based on this empirical state of affairs, do you think that information networks present an alternative to traditional market production of information?
Iinformation networks play a very important role as an alternative to market production of information, which is visible on all ICT using media. The number of shopping, marketing sites on Internet, television are booming, providing all sorts of product information.
Yes, every successive day, we have larger use of information networks to provide information about events, products, ideas, technologies, etc. The internet and the mass media are allowing this to happen.
Definitely, it is a supplement or even an alternative to, the traditional market-based information. But it is unlikely to replace the latter. Of course, it would enable people to have a closer look at the information that the market provides as they already have the information through the networks. This would further add to the "Customer is the king" theory, which is the key postulate of the globalization philosophy.
The seminal book in the attached link that was published by Professor Benkler of Harvard Law School in 2006, aroused a debate on the power of these information networks.
http://en.wikipedia.org/wiki/The_Wealth_of_Networks#mediaviewer/File:The_Wealth_of_Networks_Book_cover.jpg
Yes, Mohamed. Information networks do present an alternative to market production of information. They are becoming the alternative to the market.
The common market must produce a lot of efforts to keep up with the information networks. If observing my own behaviour, there is a clear order: first network research infos, then possibly ordering, only in cases where a local service is needed, expert advice and buying in the common market.
My prognosis: the network will be dominant with the time.
With the advent of internet and increasing penetration of mobile phones with internet connectivity have open gates for an alternative route to marketing. Virtual markets are now a reality and are here to stay. These do provide and alternative to traditional ways of doing marketing. ICTs have created a greater awareness about the products, their quality and ease of procuring them. Now a significant number of people are shifting from traditional channels of marketing to information networks for the actual shopping.
I strongly feel that in days to come these networks would become the most preferred way the people would be buying the things they need.
I concur with the above contributors. Three important points needs to be highlighted.
"Definitely, it is a supplement or even an alternative to, the traditional market-based information.' (Debi S. Saini)
'it is wide spread globally" (Kamal Eddin Bani-Hani )
"With the advent of internet and increasing penetration of mobile phones with internet connectivity have open gates for an alternative route to marketing." (K. M. Singh)
Excellent contribution.
Thank you all for your valuble contributions.
I would just like to add that the market is losing grip via this increasing democratization of information and most importantly its widespread availability to all citizens. So in a way, this renders institutions more inclined to overly protect their information network as a consequence.!
A big thank you to all the contributors in this thread for feeding the debate with diversely fresh ideas.
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