Social Platforms in Networked Economies
Social platforms are developing into “peer economy” or “sharing economy” markets. Based on an overview of 192 peer economy companies such as TaskRabbit, Quirky, and ThredUP, Rob Kozinets (University of Southern California) and Rebeca Perren (California State University) will discuss new ways to understand these markets and how they provide value by presenting marketers with a new frontier where social resources and software platform algorithms interact. They will explore the potential negative consequences, such as opportunism by buyers and sellers, and discuss how to manage these pitfalls with institutional arrangements matched to the type of operation. Marketers will learn about how other companies are managing the peer economy, and how they can approach the peer economy business in a strategic manner that recognizes how to match different kinds of business and customer needs to different peer market structures.