DIGITAL MARKETING AND SHARING ECONOMY
Keywords:
sharing economy, digital marketing, business models, economic growth, innovationAbstract
The paper defines the term sharing economy and lists the activities which take place within this economic arrangement with the aim of clarifying the interactions between providers and users. Also tries to highlight the opportunities, the impact and the potential for economic development that platforms in the sharing economy provide. It describes the business models of sharing economy and the concept of digital marketing in order to more easily determine and define the users in the context of using delivery applications.
With the emergence of the Internet and the digital economy, the sharing economy leverages modern information technology to facilitate transactions, enabling the transfer of underutilized resources for a fee.
Unlike traditional marketing approaches, digital marketing in the sharing economy context primarily benefits companies with unused resources or intermediaries facilitating exchanges.
The implementation of electronic payment systems and digital wallets simplifies financial transactions, while sharing goods and products enables cost savings and resource optimization.
As digital marketing becomes indispensable in the business landscape, embracing the sharing economy opens doors to revenue growth, expanded presence and innovation.
Various scholars have delineated essential elements of a business model, including value proposition, market segment, value network, revenue generation, cost structure, and profit potential.
These elements facilitate resource allocation, value delivery, and sustainable growth, ensuring the viability of sharing economy ventures.
The sharing economy has revolutionized traditional economic paradigms, offering convenience, accessibility, and sustainability. Digital media integration has catalyzed its success, fostering economic growth and empowering market participants. While the sharing economy continues to evolve, it is unlikely to completely displace traditional economic networks. Instead, it presents opportunities for collaboration and innovation, with potential benefits for all stakeholders.
Methodology used in this paper is based on qualitative analyse, induction and deduction methods, with broad analyse of domestic and foreign literature.
The results are presented at the end of the paper with strong conclusions of main points of sharing economy and benefits of digital marketing and business models for the same economy as well.
References
Barbu C.M, Bratu S.R., & Sirbu M.E. (2019). “Business Models of the Sharing Economy”, Review of International Comparative Management”, Vol 19, Issue 2
Blokdyk G. (2020). “Sharing economy a complete guide”
Chesbrough, H., & Rosenbloom, R.S. (2002). “The role of the business model in capturing value from innovation: Evidence from Xerox Corporation’s technology spin-off firms”. Industrial and Corporate Change, 11(3), pp. 529– 555
Hwang, J. (2020). “Advances in sharing economy”, Scientific Research Publication Inc., USA
Johnson, M. W., & Christensen, C. M., Kagermann, H. (2008) “Reinventing your business model”. Harvard Business Review, 86(12), pp. 50-60.
Kaplan, S. (2012) “The Business Model Innovation Factory: How to Stay Relevant When The World is Changing”. Hoboken, NJ: Wiley
Lider (2016) “Digitalni gladijatori u ekonomiji dijeljenja” https://lidermedia.hr/aktualno/biznis-i-politika/hrvatska/digitalni-gladijatori-u-ekonomiji-dijeljenja-51991
Media Marketing (2016) “Iz strateškog ugla: Ekonomija deljenja je ekonomija današnjice” https://www.media-marketing.com/kolumna/iz-strateskog-ugla-ekonomija-deljenja-je-ekonomija-danasnjice/
Miguel, C., Avram, G., Klimczuk, A., Simonovic, B., Balazs, B., & Cesnuityte, V. (2022) “The sharing Economy in Europe: from idea to reality”
Morris, M., Schindehutte, M., Allen, J. (2005). “The entrepreneur’s business model: Toward a unified perspective”. Journal of Business Research, 58(6), pp. 726-35.
Nielsen C., Lund M. (2013). “The basics of business models”, 1st edition
Osterwalder, A., Pigneur, Y. (2010). “Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers”. Hoboken: Wiley
Russell W., Bek, Giana M. Eckhardt & Fleura Bardhi (2019). “Handbook of the sharing economy”, Eligar
Strommen-Bakhtiar A., Vinogradov E. (2020). “The Impact of the sharing economy on business and society-Digital transformation and the rise of platform businesses”, Routledge, 1st edition.
