The purpose of this study is to develop a successful strategy that can satisfy customer needs effectively based on the recognition of cognitive gaps toward the Internet shopping mall between managers and customers. Internet shopping mall becomes a main cyber space for future shopping, Despite some pessimistic view on the future of cyber shopping, the amount of purchase in Internet shopping has increased continuously and dramatically. In order to compare and analyze the cognitive difference between managers and customers, this study investigates the view of managers as Internet shopping mall operators as well as that of customers. Questionnaires and brief interviews were carried out to collect empirical data. Empirical results find the significant cognitive gap in the perception of importance of factors affecting shopping malls between managers and customers. After analysing the empirical data with statistical methods, this study finds that six of nine factors show significantly different views in perception of Internet shopping mall between managers and customers. The findings of this study can be employed to implement an Internet shopping mall strategy to better serve customer needs and requirements to gain competitive advantage in this emerging market with growing competition.