Overestimating impact of online channels

In Marketing Strategy and Organization: Building Sustainable Business the following arguments for overestimating the impact of online Distribution Channels are mentioned:

1. The transaction costs argument
   1. optimistic view: online channels enable a company to acquire products and services more efficiently
   2. realistic view: interaction between buyer and seller involves a vague trial and error process.
2. The market expansion argument
   1. optimistic view: e-commerce enables a better matching of suppliers and faster more personalized access to customers enabling less volatile demand.
   2. realistic view: successful contenders develop unique differentiation and build up switching cost.
3. The Disintermediation argument
   1. optimistic view: online channels enable the supplier to bypass intermediaries
   2. realistic view: setting up a distribution channel and attractive market place is difficult. You can eliminate the middle man but not the middle man's function
4. The market diversification argument
   1. optimistic view: internet provides bricks and mortar companies with opportunities to build business elsewhere.
   2. realistic view: building business remains harsh.