BMGT 301 Lecture Notes - Lecture 14: Airbnb, Zipcar, Linkedin
Document Summary
Consumption, and creating more efficient markets through technology. Collaborative consumption has been increasing rapidly; aka the sharing economy or collaboration economy. Examples of firms that have made this possible: airbnb , zipcar, More efficient supply and demand, lower costs, efficient resource use, level of reach and services that were unavailable before. Show up early is a big advantage to create mass of buyers. Need suppliers and buyers to keep two sided market going. Word of mouth sharing and viral posts on social media accelerate growth of sharing economy marketplaces. This is why some firms offer customer discounts for sharing the service or product with others. Not all authorities are opposed but there is debate on whether some companies should be more heavily regulated. Google has invested millions in uber, and conde nast has invested in rent the runway. Walgreens, ibm have enhanced customer offerings by partnering with sharing economy pioneers as well.