Economic exchange has undergone major changes in recent years. Electronic payment instruments have provided participants in economic relations in various markets with opportunity to speed up the process of concluding a deal which led to decrease in transaction costs on the Internet market. There are many studies on the value of transaction costs. This is not, however, the case with researches related to this kind of costs on the Internet market. The purpose of the article is to show the influence of the value of transaction costs on the formation of basic marketing institutions of Internet firms, precisely, on the product and price policies. This article is in some sort the result of the study conducted by the author during several years. In the first part of the article, the author gives a brief excursion into the theory of transaction costs and draws attention to opinions of various researchers specializing in the economy of the Internet market. The results of the study dealing with the influence of transaction costs on the commodity policy of Internet firms are presented. The author finds a connection between transaction costs and Internet goods informativity (the ability of goods to contain one or another type of information). The author cites the optimality condition for commodity policy implementation for a firm operating on the Internet market, which makes possible to obtain a strategic advantage over competitors. The article also provides an overview of modern research in the field of pricing in the Internet market. The author brings together the typology of transaction costs, developed by him earlier, with the basic model of pricing in the Internet.