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What you own no longer defines who you are; your experiences do

 Remember the overly expensive watch or pair of shoes you bought, and later you now wish you had the extra money to spend on something else? Perhaps for a vacation or a thrilling day activity?

Marketers study the deeply rooted factors that play into individual consumption and consumer behavior. Psychological and unconscious factors lead to purchases, and some marketers believe consumers choose products to define their uniqueness, and identity. In a recent article by Ana Andjelic (@andjelicaa) on AdvertisingAge, the discussion is on how the sharing economy is boosting the luxury market, while disrupting the traditional model of buying luxury goods.

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Topics: Articles

Need A Lyft to Starbucks?

 

 

In a recent article on USA Today, Aamer Madhani (@AamerISmad) delves into the recent announcement by Starbucks that they will soon partner with Lyft to provide transportation for their company’s workers.

Lately, Starbucks has been actively trying to boost its mobile presence - last month they announced that their new mobile ordering app is active in over 4,000 locations, allowing customers to order and pay for their beverages ahead of time.

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Topics: Articles

The solution to making the Sharing Economy work in the long run

This year’s presidential debates have stirred up a lot of controversy regarding the sharing economy. While some candidates are in full support of this innovative economy, others raise questions and concerns around job security and benefits. In a recent article by Shane Ferro (@shaneferro) on Business Insider, he discussed a possible solution to solving these issues.

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Topics: Articles

Teacher or Entrepreneur? Udemy Lets You Be Both

 

The internet has affected every industry since its inception, including the revered sector of education. Although some people are looking to gain skills toward their career, most people sign up for a class to, get this, learn. From engineering, to creative writing, to how to teach an online class, no academic stone is left unturned. According to Fareed Zakaria (@FareedZakaria), author of “In Defense of a Liberal Education” many people are signing up for online classes, but the types of classes they are taking may surprise you.

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Topics: Articles, Entrepreneur

Millennials – Pick Up the Damn Phone

Snapchat. Instagram. Facebook. Twitter. Uber. Venmo. Seamless. Spotify. Tinder.

Millennials love the phone. They love to text. They love to post. They love to swipe.  They love to email. But they hate answering the phone.

I challenge you to call anyone born between 1981 to 1995 and see if they pick up. I bet you a Mocha Frappuccino that you’ll get a voicemail that says, “Hey this is X. If you need to get ahold of me, send me a text.”

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Topics: Articles

Are You Trading Quality for Convenience?

 

 

In a recent article from the Wall Street Journal, Geoffrey Fowler (@geoffreyfowler) talks about how the fabulously wealthy may call their servants by ringing a little bell. In the lifestyles of the the middle class, one can now summon a household staff just by tapping on a smartphone. People can have a maid, masseuse, doctor, chef, valet, personal shopper, florist and bartender at the touch of their fingertips. Each has it’s own app and can arrive at your door in as little as 10 minutes. Yes, this sounds ridiculous. But it might also be the future of how busy non-billionaires get chores done.

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Topics: Articles, Marketplace

The “Peer-to-Peer” What?!

A few years ago, you wouldn't have even heard the phrase "peer-to-peer marketplace". So what exactly is this trend all about? Peer-to-peer began as a sharing apparatus via the Internet. In its infancy, the Internet was meant to be a giant peer-to-peer networking system where consumers were both users and contributors. The peer-to-peer trend took hold as the Internet became the "world's largest file sharing network". (1) The most famous example is that of Napster, which popularized the sharing of music files specifically.

This history founded the basis for peer-to-peer marketplaces. Marketplaces serve a mutual desire for the supply and demand of a product or service. But here's the catch. A peer-to-peer marketplace achieves this by providing online tools for people to communicate directly with each other about exchanging products or services. (2) There are specific standards for an organization to be considered a peer-to-peer marketplace.

To truly be a peer-to-peer marketplace, you:

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Topics: Articles

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