Platform Concepts and Models in Industry
13 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to Lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is the primary reason automotive manufacturers use a platform concept?

  • To reduce engineering costs by reusing components (correct)
  • To increase the number of dealerships
  • To improve customer service quality
  • To enhance the aesthetic appeal of vehicles

What does a prospective customer primarily consider when making purchasing decisions?

  • The underlying engineering components of the car
  • The production timeline of the vehicle
  • The shape of the car and interior finishing (correct)
  • The interactive features of the vehicle

Which of the following components is least likely to influence a customer’s buying decision?

  • Engine performance
  • Transmission type
  • Safety ratings
  • Interior color scheme (correct)

How do platform strategies benefit automotive manufacturers?

<p>They allow sharing of costs and more diversity in models (B)</p> Signup and view all the answers

What aspect of the vehicle do manufacturers focus on to appeal to different customer segments?

<p>The visible design and luxury elements (D)</p> Signup and view all the answers

What metaphor is used to describe the concept of platforms?

<p>Standing on the shoulders of giants (A)</p> Signup and view all the answers

What does a platform strategy primarily focus on?

<p>Allowing participants to benefit from the presence of others (C)</p> Signup and view all the answers

Which of the following is NOT mentioned as a type of platform in the content?

<p>Educational platforms (C)</p> Signup and view all the answers

Why does the content suggest that platforms are 'elusive' in definition?

<p>They share similarities with many different constructs. (B)</p> Signup and view all the answers

What is one potential benefit of using a marketplace platform?

<p>Instant access to a large set of merchants or customers (B)</p> Signup and view all the answers

What is a key consideration in a successful platform strategy according to the content?

<p>Technology decisions and trade-offs (A)</p> Signup and view all the answers

Which industry is NOT specifically mentioned as benefiting from platform models?

<p>Telecommunications (C)</p> Signup and view all the answers

What does the phrase 'all roads lead to Rome' imply in the context of platforms?

<p>Various platforms provide paths to success. (C)</p> Signup and view all the answers

Flashcards

Platform Strategy

An approach to entering a market that allows platform participants to benefit from each other's presence.

Platform

A structure enabling interaction between multiple participants (e.g., merchants, customers, content creators).

Platform Model

Different types of platforms with diverse mechanisms and functionalities.

Standing on the Shoulders of Giants

Leveraging existing knowledge or platforms to achieve more.

Signup and view all the flashcards

Platform Participants

Individuals or entities involved in a platform's activities (e.g., buyers, sellers, content creators).

Signup and view all the flashcards

Technology Platforms

Platforms utilizing technology to facilitate interactions between users.

Signup and view all the flashcards

Market Platforms

Platforms facilitating interactions between buyers and sellers in a market.

Signup and view all the flashcards

Social Media Platforms

Platforms that facilitate social interactions by allowing users to share content.

Signup and view all the flashcards

Automotive Platform

A standardized base structure used by car manufacturers for multiple models, sharing components like engine, transmission, and suspension.

Signup and view all the flashcards

Shared Engineering

The practice of reusing the same engineering design and components across multiple car models to reduce development costs.

Signup and view all the flashcards

Diverse Models, Shared Components?

Despite sharing many components, cars built on the same platform can have very different appearances, features, target audiences, and even brand names.

Signup and view all the flashcards

Why Platforms?

Automotive platforms allow car manufacturers to offer a wide variety of models at different price points and for different customer needs, without significantly increasing development costs.

Signup and view all the flashcards

Customer Focus

While car manufacturers invest heavily in engineering, customers typically judge cars based on appearance, interior comfort, and brand image rather than technical specs.

Signup and view all the flashcards

Study Notes

Platforms and their Concepts

  • Platforms elevate participants, similar to train platforms or technology platforms. Building on existing tech platforms avoids starting from scratch. Marketplace platforms give instant access to merchants/customers; social media elevates content to millions.
  • A precise definition of platforms is elusive, with Kim et al. cataloging definitions. Zach Church's definition highlights enabling participants' benefits from each other. Platform strategy encompasses market entry and technology decisions.

Established Platform Models

  • Platform success comes at a cost. Platforms aren't new; the concept is common in various fields. Examples exist across automotive, e-commerce, media, and IT.

Automotive Platforms

  • Automotive manufacturers use platform concepts, reusing engineering components across different models. This lowers cost and enables various models catered to segmented customer bases.
  • Core engineering components (engine, transmission, suspension, etc.) are reused, resulting in diverse models with shared underlying parts. These parts are not always visible but greatly impact customer purchasing decisions, which could also be affected by factors like car shape, interior design, seats’ comfort, and external branding.

Studying That Suits You

Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

Quiz Team

Description

Explore the fundamental concepts of platforms and their applications across various industries, including automotive and e-commerce. Delve into how platforms facilitate participant interaction and the strategies for their successful implementation. Understand the implications of platform models and their influence on market dynamics.

More Like This

Use Quizgecko on...
Browser
Open
Browser
Browser