Concept
Doc Searls coined the term in an article for Linux Journal. He wrote:
"The Intention Economy grows around buyers, not sellers. It leverages the simple fact that buyers are the first source of money, and that they come ready-made. You don't need advertising to make them."
Despite the advancement internet businesses are still seller oriented. Even successful businesses like Google still have the point of view of the sellers, with their revenue coming nearly all from advertising. Searls describes the current condition as a series of silos. The only option a buyer has is merely moving from silo to silo. Nothing has fundamentally changed.
Some sites have similar characteristics of an intention economy. For example flight booking services Priceline.com, which let users name their price for an airline ticket still functions like a "silo." In an intention economy a site like Priceline might serve as an intermediary with the airline coordinating new flight dates and times that correspond around the buyers intentions.
Companies need to be able to respond to a customers precise needs. "Mass customization, in a lot of areas it is no longer inherently necessary that I get the exact same thing as a million other people. A computer manufacturer can be geared for assembling a computer just for me, to my specifications. A travel agency can construct a travel plan particularly for me."
Read more about this topic: Intention Economy
Famous quotes containing the word concept:
“The new concept of the child as equal and the new integration of children into adult life has helped bring about a gradual but certain erosion of these boundaries that once separated the world of children from the word of adults, boundaries that allowed adults to treat children differently than they treated other adults because they understood that children are different.”
—Marie Winn (20th century)
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