Marketing Of A Global Economy

Sharing economy is a new trend, which has happened with the global advent of Social Media and the peer-to-peer network. It is affecting different aspects of the Hospitality Industry. It allows people to share their belonging or services with strangers, in an online trust-rated way. “The Sharing Economy is a socio-economic ecosystem built around the sharing of human and physical resources. It includes the shared creation, production, distribution, trade and consumption of goods and services by different people and organizations” (Matofska, 2015). The two main examples of shared economy that brought huge debates to the world’s media nowadays are Uber and AirBnb. These shared economies, which allow peer-to-peer exchanges throughout technology,

Today, firms have to deal with a global marketplace; marketers have no other choice. Participation in global marketing has begun to shift from a mere “option” to an imperative. The world is becoming more homogeneous. Distinctions between national markets

Marketing is everywhere. It can be seen in all forms of media. Advertisements are plastered all over the internet, they are constantly on television, and heard on the radio. It is impossible to escape the constant pressure from businesses promoting themselves and their products. On the business side of things, advertising is extremely competitive. Good marketing can give a business an edge over their competition. To become the best in marketing, use well thought out strategies, know the targeted customers, and use the most cost-effective medium for the situation.

A firm 's international marketing program must generally be modified and adapted to foreign markets. This international marketing program uses strategies to accomplish its marketing goals. Within each foreign nation, the firm is likely to find a combination of marketing environment and target markets that are different from those of its own home country and other foreign countries. It is important that in international marketing, product, pricing, distribution and promotional strategies be adapted accordingly. In order for an international firm to function properly, cultural, social, economic, and legal forces within the country must be clearly understood.

The sharing economy has its perks however also its inconveniences. Mary Dejevsky is the writer of “Uber and the “sharing economy” are leaps into the past, not the future”, and in the text she speaks on the downside of the sharing economy. “There are questions, too, about quality of life and fairness. What recourse do you have if you are a tenant or home-owner disturbed by anti-social short-stayers? If you are a neighbor woken by driveway customers slamming their doors at 6am? If pollution is increased by the many more cars plying for hire? If wages are further depressed by casualization?”, Dejevsky lists various of problems that people face or could face now that sharing economy is becoming a global thing. All the things she mentions are pretty

Sharing economy is a business and a service built around sharing and renting assets, where the technology has a big involvement, as it’s used as communication between the renter and the borrower. Sharing economy has its advantages and disadvantages, and Suzanne Bearne, Catharine Hamm and Mary Dejevsky are 3 writers that express their knowledge and views relating to the topic of sharing economy.

Companies have been advertising their goods since consumerism was created Street merchants in . In the 21st century, it is hard to go a day without seeing an advertisement.

In the context of this report, I will discuss the share economy and how it is helping us to be more efficient (SUSTAINABLE - this is economic and environmental) by making better use of underused assets as well as its effect on our values system (lifestyle) in regard to the way we think about supply and demand. I will explain why collaborative consumption is economically empowering by allowing anyone to be a micro-entrepreneur. I will also illustrate the scope of the sharing economy using specific, current examples. I will describe the obstacles the big players face as people are moving towards embracing collaborative consumption, such as legal and regulatory. Finally, I will assert how the share economy has made people more trusting of each other and, as a result, why reputation is becoming the currency of the new economy.

The writer has delivered his thoughts on the concept of SHARING ECONOMY based on an insider’s view who has been actively involved with the multiple business platforms created as part of the sharing economy. The pros and cons as a business owner in a sharing economy have been displayed and also expert opinions on the concept have been outlined to a brief extent.

A sharing economy, is when owners utilize digital clearinghouses to capitalize the unused capacity of things they already have, and consumers rent from their peers rather than rent or buy from a company (Geron, 2013). Consumers today can share or offer resources like cars, room rentals, dog sitting and skills to people that require their services for low cost. Companies today, like Airbnb and Uber are capitalizing off “The Share Economy” market by providing services based of the consumer needs. The share economy does create a new economy that can be beneficial to those people trying to save and earn addition income, but detrimental to companies in the car service and hospitality industry. This lead us the main discussion in the essay: Can the sharing economy market be disruptive to the traditional economy or will it enhance the businesses in the near future.

The dramatic development of the Internet is making our life to constantly change and improve. In the past two years, some cellphone application (app) were in the explosive growth, for example, Airbnb and Uber. All the great successes they have made based on a concept - the “sharing economy”. The logic of these software is similar: the hands of users will be idle vehicles or take out housing resources, Uber and Airbnb will release these resources, in the form of information to the mobile terminal software and provide services to customers at low prices (Cannon & Summers，2014; Matzler, Veider & Kathan, 2014). The new business model brings customers significances, nevertheless, the rationality of the "Sharing economy" mode still exist many disputes, such as its regulatory responsibilities causes safety concerns. This paper will discuss whether the “sharing economy” is consumer 's optimal economic interests by evaluating pro and cons respectively.

The Sharing Economy has been one of the most popular words recently and companies like Uber, Airbnb as well as more startups are still sprawling all over the world. Yet, what is Sharing economy? What happens to the Sharing Economy? And upon that, most arguably, what are pros and cons of it? What shall we do? Towering amount of article have only one definition and few side of perspective. The Article instead summarize Allen’s research (2014) on sharing economy and efforts by Franzetti, A. (2015) and Juliet Schor (2014).

Even if it is groups of strangers working together or unknown customers, the concept of sharing economy has been permitted into our culture through new forms of established communication. In addition to

The business model of the sharing economy provides a practical platform for an efficient market to exist which benefits all stakeholders not just shareholders. To justify such a statement means that we have to take the business model apart and understands how it operates in order to appreciate the practicality. According to John J. Horton and Richard J. Zechauser in their article Owning, Using and Renting: Some Simple Economics of the “Sharing Economy” in a traditional rental market business owner had to acquire and hold assets to specifically rent them out. However, the new startups who are embracing the concepts of the sharing economy allows people to provide personal services on their downtime and or rent their underused resources that are just sitting absentmindedly. These companies charge a commission usually a fraction of the price to cover their overhead, marketing, and operational cost while the owner of these assets earn an income from their existing resources. This type of market is referred to as a “peer-to-peer rental markets” according to Horton and Zechauser. The concept of this business model is pretty straight forward and does not require in-depth details of how these companies operate, but it’s very important to explain the different segments that make up the success story. The sharing economy relies heavily on technology, existing low overhead resources, and incentives for people to participate to make it practical.

This essay will explore the concept of the sharing economy specifically, that sharing is beginning to become a key concept