Access based model of the business shows the single or multiple groups of consumers (Saloner, Shepard and Podolny, 2011). However, the detailed information regarding the customer segment is not available. The company’s positioning helps in the construction of the business model which is helpful in determining customer segments. Like in the case of marketplace business model, one group is totally inclined towards partnered contractors, while the other group consumes the process directly.
Strategy – People have traditionally considered ownership as the simplest way to access particular products. With the launch of the services provided by the Airbnb, it increased the numbers of individuals who rent to get the access temporarily rather than owning them. Growth in sharing economy is fuelled by the Internet, which has facilitated the connections between the owner and the peers to share the possessions. Entry mode of the sharing economy is not limited in the means of products and choices. It has the potential to include the entire economy in its model. In spite of many advantages, strategies of growth are largely dependent on the connectivity of the internet. The firms utilizing the sharing economy model should focus on the reducing connectivity gap among its potential customers.
Internal/external strength – Sharing economy has become an important part of the economy, as it is capable of matching demand and supply seamlessly. Airbnb was established in 2008, as an alternative to the hotel industry, it allows the user to stay in an assortment of the accommodations at minimum price. The sharing economy has many benefits on traditional mode: –
Creates new services- A transportation company to run efficiently requires a fleet of cars and drivers, which can incur huge expense on the operating cost. By employing the advanced model, Uber avoided the hurdles, which have arisen by working on the traditional model. In other words, it has helped in the creation of new and valuable service (Sarangi, 2009).
Provides flexibility in workplace – The workforce can work on the time they feel comfortable. With the aid of technology, the employee can connect themselves with the company from any part of the globe. The advantage of changing locations is an added benefit.
Along with providing services, it helps in recycling and reusing the product, which can be beneficial for the maintenance of the sustainable environment. It helps in empowering the citizen by making them more productive. New ideas of businesses are being developed on a daily basis.