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 concept is interesting: to see, as though reflected
In streaming windowpanes, the look of others through
Their own eyes.”
—John Ashbery (b. 1927)
“Terror is as much a part of the concept of truth as runniness is of the concept of jam. We wouldn’t like jam if it didn’t, by its very nature, ooze. We wouldn’t like truth if it wasn’t sticky, if, from time to time, it didn’t ooze blood.”
—Jean Baudrillard (b. 1929)
“There is a concept that is the corrupter and destroyer of all others. I speak not of Evil, whose limited empire is that of ethics; I speak of the infinite.”
—Jorge Luis Borges (1899–1986)