Sharing Economy Review and Analysis
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Questions and Answers

What is one key characteristic that distinguishes sharing economy platforms from traditional businesses?

  • They require ownership of assets.
  • They focus on facilitating peer-to-peer interactions. (correct)
  • They emphasize long-term asset liability.
  • They operate on conventional business models.

What is the projected growth rate for car sharing from 2016 to 2024?

  • 2%
  • 34.8% (correct)
  • 10%
  • 20%

In 2015, what was the estimated total value of transactions conducted by sharing economy companies in Europe?

  • €100 billion
  • €28 billion (correct)
  • €50 billion
  • €335 billion

Which of the following aspects do recent studies indicate can distinguish four sharing economy models?

<p>Level of rivalry among participants and control by the platform. (D)</p> Signup and view all the answers

What is a primary focus of the sharing economy as described?

<p>Facilitating transactions related to sharing and reusing assets. (B)</p> Signup and view all the answers

What aspect does NOT typically highlight the benefits of the sharing economy?

<p>Emphasis on ownership. (D)</p> Signup and view all the answers

By what year is the total value of transactions by sharing economy companies in Europe expected to reach €335 billion?

<p>2025 (B)</p> Signup and view all the answers

What did the estimation of US adults using sharing economy platforms increase from in 2014 to 2021?

<p>From 44.8 million to 86.5 million. (C)</p> Signup and view all the answers

What primarily characterizes Ephemeral Matchmakers in the Sharing Economy?

<p>They facilitate temporary transactions of existing assets. (A)</p> Signup and view all the answers

What type of market structure do companies like Airbnb and HomeStay represent?

<p>Two-sided market. (A)</p> Signup and view all the answers

What is a significant challenge faced by Sharing Economy matchmaking platforms?

<p>Overcoming the chicken and egg paradox. (D)</p> Signup and view all the answers

What motivates end-users to participate in the Sharing Economy according to the analysis?

<p>The appeal of hedonic experiences. (A)</p> Signup and view all the answers

Which of the following statements best describes the value proposition offered by SE companies?

<p>They prioritize authenticity over professionalism. (D)</p> Signup and view all the answers

What role do cross-side network externalities play in two-sided platforms?

<p>They enhance the value of the platform as more users join. (B)</p> Signup and view all the answers

Why should entrepreneurs focus on designing two specific value propositions for their platforms?

<p>To address the motivations of both end-users and providers. (D)</p> Signup and view all the answers

Which of the following platforms is NOT an example of an Ephemeral Matchmaker?

<p>Amazon Prime. (C)</p> Signup and view all the answers

What is the main function of platforms like Uber and Airbnb?

<p>They act as intermediaries connecting end-users with peer-suppliers. (D)</p> Signup and view all the answers

Which of the following describes Ephemeral Matchmakers?

<p>They provide a platform for temporary exchanges without ownership. (A)</p> Signup and view all the answers

What distinguishes Lifecycle Extenders and Seller Aggregators in the marketplace?

<p>They involve a change of ownership during transactions. (B)</p> Signup and view all the answers

How does BuyMie facilitate its service?

<p>By employing independent workers known as 'pickers'. (D)</p> Signup and view all the answers

What is a characteristic of multi-sided platforms like Deliveroo?

<p>They integrate three or more different sides in their business model. (A)</p> Signup and view all the answers

What type of service does Ofo provide?

<p>On-demand bike rentals throughout the city. (C)</p> Signup and view all the answers

What is the main focus of MyShowCase as a business?

<p>Showcasing new brands through community-based events. (B)</p> Signup and view all the answers

What does Reshopper primarily facilitate?

<p>The re-selling of used clothing. (B)</p> Signup and view all the answers

What is the primary focus of the majority of papers on sustainable economy (SE)?

<p>Consumers' motivations for using services (D)</p> Signup and view all the answers

Which of the following is NOT a motivation for consumers to engage with sustainable economy services?

<p>Cultural promotion (A)</p> Signup and view all the answers

How can the behavioral motivations for participating in the sustainable economy be described?

<p>They may vary by industry and cultural context. (B)</p> Signup and view all the answers

In the thematic analysis of the literature, which dimension relates to the societal impacts of sustainable economy?

<p>Environmental (B)</p> Signup and view all the answers

What percentage of papers focuses on the impact on society, market, and policy within the sample?

<p>36% (C)</p> Signup and view all the answers

Which terminology is predominantly associated with the management-oriented keywords in the analysis?

<p>Trust issue (A)</p> Signup and view all the answers

Which group of keywords represents sustainability-oriented concepts in the analysis?

<p>Blue and yellow keywords (B)</p> Signup and view all the answers

Which motivation is considered more prominent for peer-to-peer based businesses according to the analysis?

<p>Environmental consciousness (D)</p> Signup and view all the answers

How many academic journals featured at least three articles on the sharing economy?

<p>Thirteen (B)</p> Signup and view all the answers

Which two journals published more than 10 papers on the sharing economy?

<p>International Journal of Contemporary Hospitality Management and Technological Forecasting and Social Change (C)</p> Signup and view all the answers

What methodology was used to analyze the content of the sharing economy academic papers?

<p>Network-based analysis using VOS Viewer (D)</p> Signup and view all the answers

What was a key finding regarding the tourism sector in the co-occurrence analysis?

<p>Airbnb was highlighted as a leading case. (C)</p> Signup and view all the answers

What was the purpose of the smart local moving algorithm used in the analysis?

<p>To enhance the readability of the co-occurrence map (C)</p> Signup and view all the answers

What does the different color representation in the co-occurrence map indicate?

<p>Clusters of related keywords (C)</p> Signup and view all the answers

What minimum strength value was required to show links in the co-occurrence map?

<p>6 (B)</p> Signup and view all the answers

Which software tool was utilized for the bibliometric analysis in the study?

<p>VOS Viewer (B)</p> Signup and view all the answers

What primarily defines the gig economy?

<p>A labor market characterized by short-term contracts and freelance work (C)</p> Signup and view all the answers

Which of the following platforms exemplifies the sharing economy through existing assets?

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

In the transaction model, which type involves a company owning the shared product?

<p>On-Demand Renters (A)</p> Signup and view all the answers

Which of the following companies is categorized as a Lifecycle Extender?

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

What characterizes the 'Ephemeral Matchmakers' cluster?

<p>Engaging in temporary transactions with new assets (C)</p> Signup and view all the answers

Which dimension is NOT a part of the 2 by 2 matrix for analyzing sharing economy transactions?

<p>Duration of ownership (C)</p> Signup and view all the answers

What classification does the sharing economy framework NOT include?

<p>Lifecycle Borrowers (A)</p> Signup and view all the answers

Which best describes the 'Seller Aggregators' cluster?

<p>Companies that facilitate temporary transactions with existing assets (D)</p> Signup and view all the answers

What is one of the primary motivations for individuals to engage in the sharing economy?

<p>Environmental sustainability (A)</p> Signup and view all the answers

How is the transaction value of the sharing economy projected to change by 2025 in Europe?

<p>It will increase to €335 billion (A)</p> Signup and view all the answers

Which of the following is NOT considered a theme in the sharing economy?

<p>Social Media Engagement (B)</p> Signup and view all the answers

What aspect describes the challenge that sharing economy platforms face in terms of traditional market disruption?

<p>Taxation and Labor Rights (B)</p> Signup and view all the answers

Which category best represents the nature of services provided by 'Ephemeral Matchmakers' in the sharing economy framework?

<p>Temporary and on-demand services (C)</p> Signup and view all the answers

What is a key success factor for shared asset models in the sharing economy?

<p>Ability to build trust among participants (C)</p> Signup and view all the answers

Which of the following describes the temporality of transactions in shared asset models?

<p>Transactions include both permanent and temporary elements (B)</p> Signup and view all the answers

How do effective marketing strategies contribute to the success of the sharing economy?

<p>By fostering strong community engagement (A)</p> Signup and view all the answers

Which statement best captures the role of data in multi-sided market management?

<p>Data utilization enhances marketing strategies and personalization (D)</p> Signup and view all the answers

What is a defining feature of Lifecycle Extenders in the sharing economy?

<p>Ability to innovate pricing models for competitive advantage (A)</p> Signup and view all the answers

What is the main competitive advantage gained through building trust in multi-sided platforms?

<p>Increased user satisfaction and retention (A)</p> Signup and view all the answers

What type of transaction defines 'Ephemeral Matchmakers' in the sharing economy?

<p>Quick and temporary interactions (A)</p> Signup and view all the answers

Which factor is NOT typically associated with the sustainability focus in the sharing economy?

<p>High environmental impact (B)</p> Signup and view all the answers

What is one of the primary success factors for platforms in the sharing economy?

<p>Aligning motivation with the value proposition (C)</p> Signup and view all the answers

How does green branding influence the sharing economy?

<p>By enabling efficient and ethical resource use (A)</p> Signup and view all the answers

What characterizes the temporality of transactions in the sharing economy?

<p>Transactions can be both temporary and permanent (A)</p> Signup and view all the answers

Which factor is crucial for efficient capital management in establishing platforms?

<p>Strategic asset acquisition (D)</p> Signup and view all the answers

What is a key aspect of consumer appeal regarding sustainable businesses?

<p>Increased eco-consciousness (D)</p> Signup and view all the answers

Which of the following best describes the role of mobile applications in the sharing economy?

<p>They facilitate on-demand technology (C)</p> Signup and view all the answers

What type of platform is characterized by leveraging existing assets in the sharing economy?

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

In the context of green branding, what is considered a core principle of sustainability?

<p>Resource efficiency (A)</p> Signup and view all the answers

What defines a Multi-sided Platform in the Sharing Economy?

<p>Platforms that bring together two or more groups of customers. (D)</p> Signup and view all the answers

Which factor is crucial for the success of Ephemeral Matchmakers?

<p>Cross side network externalities. (C)</p> Signup and view all the answers

What is the primary characteristic of Lifecycle Extenders in the sharing economy?

<p>They own the shared goods themselves. (D)</p> Signup and view all the answers

Which of the following best describes the concept of 'Temporary' transactions?

<p>Transactions that are time-bound and do not establish ownership. (C)</p> Signup and view all the answers

What role do 'Aggregators' play in the shared economy frameworks?

<p>They combine demand and supply across multiple sectors. (B)</p> Signup and view all the answers

What distinguishes On-Demand services from other shared services?

<p>They provide immediate access to services upon request. (C)</p> Signup and view all the answers

Which of the following statements about the motivations for using sharing economy platforms is true?

<p>Cost savings and convenience are key motivations for engagement. (A)</p> Signup and view all the answers

What is a main characteristic of the 'Renters' category in the context of shared assets?

<p>They leverage underused assets for temporary access. (D)</p> Signup and view all the answers

Which strategic response option focuses on creating personalized experiences for travelers?

<p>Competing through experiences (D)</p> Signup and view all the answers

What primary challenge is Marriott facing due to platforms like Airbnb?

<p>Shift in consumer preferences towards flexible stays (D)</p> Signup and view all the answers

What is one of the strategic initiatives suggested to help Marriott keep up with technological disruption?

<p>Invest in AI-driven personalization (C)</p> Signup and view all the answers

Which strategic response option is intended to foster customer loyalty?

<p>Enhancing loyalty programs (B)</p> Signup and view all the answers

How does Marriott plan to leverage its existing resources in response to competition from SE platforms?

<p>By harnessing its loyalty program (B)</p> Signup and view all the answers

In what way does Marriott's asset-light business model differentiate it from traditional hotel operations?

<p>It emphasizes direct ownership and franchise agreements. (A)</p> Signup and view all the answers

What does the strategic option of 'partnering with SE platforms' imply for Marriott's future?

<p>Greater integration with competitors in the sharing economy (B)</p> Signup and view all the answers

Which of the following is NOT a strategic response option identified for Marriott International?

<p>Reducing the number of franchise agreements (B)</p> Signup and view all the answers

Flashcards

Sharing Economy Journal Landscape Analysis

The study of the sharing economy through analyzing academic journal articles.

Heterogeneity of Journals

A measure of the diversity of academic journals publishing research on the sharing economy.

Top Sharing Economy Journals

The most prominent journals publishing research on the sharing economy, frequently featuring numerous articles.

Thematic Analysis

A method of analyzing the content of academic publications by identifying recurring keywords and themes.

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Network-Based Analysis

A tool for analyzing word co-occurrence in texts, revealing connections and relationships between concepts.

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Co-occurrence Map

A visual representation of relationships between terms derived from a network-based analysis.

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Cluster Analysis

A method for grouping related keywords in network-based analyses to reveal underlying themes and clusters in the data.

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Relative Importance

The relative importance of a specific topic or area within a field of research, as identified through keyword co-occurrence analysis.

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Sharing Economy

The sharing economy is an economic system that focuses on sharing resources and goods rather than owning them.

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Motivations for Joining the Sharing Economy

The motivations that drive people to participate in the sharing economy are often tied to financial gains, enjoyment, and environmental concerns.

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Financial Benefits in the Sharing Economy

Financial benefits like lower prices or earning extra income are a primary motivator for many users in the sharing economy.

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Hedonic Considerations in the Sharing Economy

Hedonic considerations, or the enjoyment derived from using sharing economy services, can also contribute to user participation.

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Environmental Consciousness in the Sharing Economy

An environmentally conscious user in the sharing economy prioritizes sustainable practices and seeks to reduce their environmental impact.

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Industry-Specific and Cultural Influences

Studies indicate that the motivations for participating in the sharing economy may differ across industries and cultures.

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Impact of the Sharing Economy on Society

The sharing economy has a potential impact on various aspects of society, including the environment, market dynamics, and policy regulations.

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Sharing Economy and Environmental Sustainability

The Sharing Economy's potential environmental impact is closely tied to the concept of sustainability, aiming to minimize environmental harm.

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What is the sharing economy?

The sharing economy (SE) is an economic system where individuals and businesses share access to goods and services instead of owning them outright.

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What are digital platforms in the sharing economy?

Digital platforms are online spaces that connect individuals or businesses to exchange goods and services. They play a crucial role in facilitating transactions and interactions within the sharing economy.

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What are two-sided markets in the sharing economy?

Two-sided markets in the sharing economy involve platforms that connect two distinct groups: those who offer goods or services (e.g., renters) and those who desire them (e.g., customers). These platforms aim to create value for both sides by facilitating interactions and transactions.

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What is a 'systematic literature review'?

A systematic literature review is a comprehensive and rigorous approach to identifying, evaluating, and synthesizing the existing body of research on a specific topic. It helps researchers uncover the key findings and gaps within the research literature.

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What is a business model?

A business model describes the overarching logic of how a company creates and captures value to achieve its goals. It outlines the core components of a business, such as value proposition, customer segments, revenue streams, and key resources.

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What is the core concept of the sharing economy?

The sharing economy involves using assets (like cars, homes, or skills) more efficiently by sharing them rather than owning them individually. This can lead to cost savings, increased access, and reduced environmental impact.

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How do digital platforms enable the sharing economy?

The sharing economy is characterized by the use of digital platforms that connect people and assets to facilitate sharing and renting. These platforms allow for easy access, information exchange, and transaction processing.

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How does the sharing economy differ from traditional models?

The sharing economy involves a network of individuals who share access to assets or services, potentially leading to collaborative consumption and reduced reliance on traditional ownership models.

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What is the gig economy?

A labor market where people work short-term contracts or freelance, rather than permanent jobs.

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What is the 2x2 framework for analyzing Sharing Economy companies?

It analyzes companies based on the type of asset they share (new or existing) and the nature of the transaction (permanent or temporary).

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What are Seller Aggregators?

Companies that aggregate sellers of new goods, allowing them to sell their products on a shared platform. E.g., Amazon Marketplace.

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What are On-Demand Renters?

Companies that rent out new assets on demand, enabling customers to access them for temporary use. E.g., car-sharing companies.

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What are Lifecycle Extenders?

Companies that extend the lifecycle of existing goods by providing a platform for selling or exchanging them. E.g., Reshopper for reselling used children's items.

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What are Ephemeral Matchmakers?

Companies that facilitate temporary access to existing assets for a specific period. E.g., Airbnb for renting vacant rooms.

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Lifecycle Extenders and Seller Aggregators

Businesses that act as intermediaries between buyers and sellers of new or used products, enabling transactions through their platforms.

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Marketplaces

Online platforms that facilitate the sale of new or used products, bringing together buyers and sellers.

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Two-Sided Markets

A business model that involves bringing together two or more distinct groups of customers through a platform, leveraging network effects to create value for all parties involved.

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On-Demand Platforms

Platforms that connect users with independent contractors or freelancers who provide services, such as delivery, transportation, or cleaning.

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Ephemeral Matchmakers

Platforms that facilitate the exchange of goods or services between two users with matching needs, often involving temporary access to a product.

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Multi-Sided Platforms

Systems that bring together multiple groups of users, including end-users, suppliers, and delivery personnel, to create a seamless experience.

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Intermediaries in Shared Economy

Companies that act as intermediaries between buyers and sellers, often facilitating transactions involving goods or services that are temporarily used or consumed.

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Initial Owner in Shared Economy

The initial owner of a shared object, typically a platform or intermediary, who makes the object available for others to use or rent.

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Two-Sided Platform

A type of market where two distinct groups of customers are connected through a platform, each group benefiting from the presence of the other.

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Chicken-and-Egg Paradox

The challenge faced by two-sided platforms in attracting enough users on both sides to create a viable and valuable network.

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Cross-Side Network Externalities

A key aspect of two-sided platforms where users on one side attract more users on the other side, generating a positive feedback loop.

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Platform Life Cycle Management

The ability to adapt and evolve the value proposition of a two-sided platform over time to address changing customer needs and market dynamics.

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End-User Motivation

The motivations and drivers that encourage individuals to participate in a sharing economy platform, often driven by financial benefits, hedonic experiences, or a desire for authenticity.

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Experience Over Ownership

The experience of using a shared resource, often emphasizing authenticity and immersion in a local culture, as opposed to traditional, professionalized services.

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Authenticity Over Professionalism

The focus on authenticity and local experiences offered by sharing economy platforms, often appealing to users seeking genuine interactions and unique perspectives.

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What drives people to participate in the sharing economy?

Consumer motivation is driving the sharing economy. People are drawn to financial benefits, convenience, and sustainability. It's about using resources more efficiently, reducing ownership costs, and minimizing environmental impact.

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Role of digital platforms in the sharing economy

Platforms in the sharing economy act as intermediaries, connecting those who want to share (like owners) and those who want to access shared resources (like renters). They facilitate the exchange and create value for both sides.

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How does the sharing economy impact society?

The sharing economy is disrupting traditional markets by offering alternative ways to access resources. It's creating opportunities for individuals to generate income and can impact policies related to taxation and labor rights.

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Sharing Economy Framework

The sharing economy framework categorizes companies based on their offerings (new or existing assets) and the type of transaction (temporary or permanent). This helps understand the variety within the sharing economy ecosystem.

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On-Demand Renters

Companies that own the goods they share and rent them out on demand for temporary use. They often deal with new products.

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Lifecycle Extenders

Companies that help extend the life of existing goods by providing a platform for selling or exchanging them.

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Network Effects

Platforms that have a large number of users on one side, attracting more on the other. This is crucial for two-sided markets to succeed.

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Aggregators

Companies that use idle capacities, like underused assets, to create value for both users and asset owners.

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Business Model

A business model that describes how a company creates and captures value to achieve its goals. It outlines core components of a business, such as value proposition, customer segments, revenue streams, and key resources.

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Digital Platforms in the Sharing Economy

Digital spaces connecting individuals or businesses to exchange goods and services. These platforms facilitate transactions, communication, and provide essential tools for managing the sharing economy.

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Two-Sided Markets in the Sharing Economy

Platforms connecting two distinct groups: those offering goods or services (renters) and those who desire them (customers). They create value for both sides by facilitating interaction and transactions.

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Green Branding

A powerful marketing strategy aiming to build sustainable brands and positively impact the planet by aligning business practices with ethical and environmentally conscious values.

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Seller Aggregators

Businesses that act as intermediaries between buyers and sellers of new products, enabling transactions through their platforms.

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Sharing Economy Platform

An online platform connecting users who want to rent or share assets like rooms, cars, or equipment with people offering them.

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Disruption of Traditional Businesses

Traditional companies like Marriott face challenges from sharing economy platforms like Airbnb, which offer more affordable, flexible, and personalized experiences.

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Launching a Competing Platform

A strategy where companies build their own platforms to compete directly with existing sharing economy players.

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Partnering with SE Platforms

An approach where companies partner with existing sharing economy platforms to leverage their reach and customer base.

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Digital Transformation

Companies need to adapt by offering more personalized and digital experiences to match customer expectations in a sharing economy environment.

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Study Notes

Sharing Economy: A Review

  • Explores the current state of sharing economy (SE) research and practice.
  • Provides a framework for researchers and managers.
  • Systematically analyzes 114 management literature articles.
  • Examines 32 companies from three national SE associations (UK, Ireland, and Denmark).
  • Identifies themes including consumer motivations, societal impact, market analysis, and revenue models.
  • Classifies SE companies into four archetypes: On-Demand Renters, Lifecycle Extenders, Seller Aggregators, and Ephemeral Matchmakers.
  • Highlights gaps between academic literature and the real-world practices of SE businesses.
  • Suggests future research directions to improve the understanding of SE businesses.
  • Identifies four SE business models based on temporality of transactions (permanent/temporary) and whether the shared asset is new or existing.
  • Shows there is a significant amount of variability within SE companies, with some firms relying more on market logics, and others relying more on non-market logics, like sustainability.
  • Acknowledges that some SE companies are not actually driven by sharing; some companies sell products, while others share a workforce.

Methodology

  • Uses a dual approach combining a systematic literature review and exploratory qualitative research (open coding).
  • Literature review focuses on articles related to SE using Scopus database (up to 2017).
  • Documents screened based on type, language (English), and relevance to SE.
  • 671 documents initially appeared in the search. This was reduced to 114 final documents.
  • Empirical investigation analyses 32 companies from the three SE associations.

Results

  • The field of SE research shows rapid growth, particularly since 2012.
  • The study identifies themes of consumer motivations (financial, hedonic, environmental consciousness), societal impact, economic implications, and business model explorations.
  • Companies within various SE archetypes were identified by the study, with a significant majority being Ephemeral Matchmakers.
  • On-Demand Renters, Lifecycle Extenders, Seller Aggregators, and Ephemeral Matchmakers were the four archetypes extracted from the examination of 32 SE companies.
  • The study reveals a notable misalignment between the academic focus and the diversity of SE business models.

Key Findings

  • SE companies exhibit diverse business models and target different types of transactions (e.g., permanent vs temporary).
  • There are inconsistencies between SE themes in management literature and the business model diversity of SE businesses, which are identified by the analysis.

Discussion

  • The framework helps companies understand their position in the SE landscape.
  • The success of SE companies hinges on trust-building mechanisms (e.g., identity verification, user reviews, secure payment).
  • There exists a noted difference between academic focus and the practical realities within SE firms.
  • Key areas for future research include understanding SE business models and critical success factors for SE firms.
  • SE may embrace non-market attributes, like sustainability, alongside market attributes.

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Related Documents

Sharing Economy: Seeing Through The Fog PDF
Sharing Economy: Collective Reading Session 02 PDF

Description

This quiz reviews the current state of sharing economy (SE) research and practice, analyzing 114 management articles. It identifies key themes such as consumer motivations and market analysis, and classifies SE companies into four archetypes. Explore gaps in academic literature and real-world practices while suggesting future research directions.

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