Subscription Based Economy

Name

Institution

Literature Review

经济论文代写 According to Teece (2010), a business model is how a business delivers value to the customers, how to retain them and ···

 

Business model

According to Teece (2010), a business model is how a business delivers value to the customers, how to retain them and make them pay for the services provided. Enterprises apply various models to entice their clients to their service offerings. The focus of this literature review is a subscription-based model and its applicability in the hotel industry. This model has become a modern business trend because it creates convenience for consumers as well as the entrepreneurs in capacity management, pricing, discounts, and other growth strategies.

The hospitality industry is rapidly growing owing to the growth in global tourism as well as the global economy.  

The subscription market has continued to thrive at the rate of 100% over the last half-decade. This observation was made by Forbes contributor Columbus (2018) who asserted that enterprises using subscription model have tremendously made profits of over $2.6B sales in 2016 compared to the previous sales of $57M in 2011. In his statistics, 15% of online subscribers are likely to have more than one subscription. The subscription market has therefore grown and will continue to grow as more and more enterprises adopt the model.

经济论文代写
经济论文代写

According to Whitler (2016), the modern market is becoming complex as businesses converted to online and subscription-based model and the rising competition. She argues that social and market changes have contributed to a shift in consumer buying behavior with more of them preferring temporary ownership using subscription over traditional pay-per-product. In the hospitality industry, the seismic changes in the global economy require innovation and foresighted managers to come up with growth strategies to diversify and survive in the competition in the market. Therefore, managers come u with competitive packages which the clients subscribe for either monthly or annually.

Value Creation  经济论文代写

Most hotels sell their values through subscription to services and products like golf playing, rooms, foods, deliveries, and other programs. Subscriptions create value through creating efficiency, complementarity, lock-in, and novelty. To both the business and client (Amit & Zott, 2001). Through efficiency, clients feel the transactional cost is affordable. Greater efficiency builds on the product/service value. Complementarity is offered when a hotel packages their services in a bundle that clients can subscribe. Lock-in, on the other hand, is a strategy for retaining the subscribers and avoid losing them to the competitors. Novelty is creating innovations as a way of doing business. These are the four value drivers that a hotel manager pursues when they adopt a subscription model.

The two factors that attribute to Subscription-Based Model (SBM) are convenience and curation (Randall, Lewis, & Davis, 2016).The role of convenience to customers is not having to do repeated routines but instead, subscribe to such services. On the other hand, curation is creating new and innovative products and services to the customers every time they visit the hotel. Curation plays a vital role in customers who want to be surprised with new products to explore.

经济论文代写

A hospitality and tourism journal by Pullman and Rodgers (2009) explore how hotels are able to manage their capacity by having an “integrated visitor-preference and operations-research models, linear programming, and simulation models.” This model can be used in subscription services for client booking and reservations. Integrating these models, hotel managers keep track of services availability and delivery to clients. The managers also plan ahead on the human capacity needs as they are able to forecast the client traffic through the subscriptions made per month of per year. To add on this, Koide and Ishii (2005) observed that, a good hotel management model has a benefit of allowing discounted services to the subscribed client. This acts as a strategy to retain them and continue renewing their membership. Premium members have the advantage of getting the discounted services. Using their suggested model and apply it in a subscription model, the hotels can reduce overbooking and cancellation.

The pricing distribution in the hotel industry is skewed.  经济论文代写

Bastian (2014) in his article accept that acknowledges that pricing in the subscription economy is complicated. A suitable mechanism is therefore needed to determine the prices of various subscriptions. In a subscription model, the manager value their services relative to the number of signups received the level of subscription and packages. The rate at which the hotel gets new subscriptions can be used as a variable for setting up the prices. According to McNea (2017), in his article, enterprises can charge different prices measured in the level of packages being offered. He observed that subscriptions range from monthly to annually. Those who pay monthly subscriptions are likely to spend higher than those who make annual subscriptions. Therefore, companies come up with different subscription offers in a bid to maximize their profits.

Considering the literature review, SBM is the future model of doing business in the modern economy. It is evident that hotels adopt this model to remain dynamic with the trends in the market and also be able to create innovative and competitive products and services. Value creation in SBM is dependent on convenience and curation that the hotel creates for its clients.

References  经济论文代写

Amit, R., & Zott, C. (2012). Creating Value Through Business Model Innovation. MIT Sloan Management Review, 41-49.

Bastian, K. (2014). How the Subscription Economy is Driving a New Kind of Business Model. Retrieved from https://www.forcemanagement.com/blog/how-the-subscription-economy-is-driving-a-new-kind-of-business-model

Columbus, L. (2018, May 4). The State Of The Subscription Economy, 2018. Retrieved from https://www.forbes.com/sites/louiscolumbus/2018/03/04/the-state-of-the-subscription-economy-2018/#5a21e5dc53ef

Koide, T., & Ishii, H. (2005). The hotel yield management with two types of room prices, overbooking and cancellations. International Journal Of Production Economics, 93-94, 417-428. doi: 10.1016/j.ijpe.2004.06.038

McNea, B. (2017). How the Subscription Economy Will Change the Price We Pay. Retrieved from https://adage.com/article/digitalnext/subscription-economy-change-price-pay/307966/

Pullman, M., & Rodgers, S. (2009). Capacity management for hospitality and tourism: A review of current approaches. International Journal Of Hospitality Management, 29(1), 177-187. doi: 10.1016/j.ijhm.2009.03.014

Randall, C., Lewis, A., & Davis, A. (2016, January 8). How subscriptions are creating winners and losers in retail. Retrieved 10 October 2018, from Harvard Business Review: https://hbr.org/2016/01/how-subscriptions-are-creating-winners-and-losers-in-retail

Teece, D. (2010). Business models, Business strategy and innovation: Long Range Planning (43), 172-194.

Whitler, K. (2016). How the subscription economy is disrupting the traditional business model. Retrieved from https://www.forbes.com/sites/kimberlywhitler/2016/01/17/a-new-business-trend-shifting-from-a-service-model-to-a-subscription-based-model/#18b02d2f4a5f

 

 


 

订阅型经济

名称

机构

文献评论

经济论文代写根据Teece(2010)的研究,业务模型是企业如何为客户提供价值,如何留住客户以及···

 

商业模式

根据Teece(2010)的研究,一种业务模型是企业如何为客户提供价值,如何留住客户并让他们为所提供的服务付费。企业采用各种模型来吸引客户使用他们的服务产品。该文献综述的重点是基于订阅的模型及其在酒店行业中的适用性。这种模式已成为现代商业趋势,因为它在容量管理,定价,折扣和其他增长策略上为消费者和企业家提供了便利。

由于全球旅游业以及全球经济的增长,酒店业正在迅速发展。

在过去的五年中,订阅市场持续以100%的速度蓬勃发展。这项观察是由《福布斯》撰稿人哥伦布(2018)做出的,他断言,使用订阅模式的企业在2016年的销售收入超过$ 2.6B,而在2011年,之前的销售收入为$ 57M。在他的统计数据中,有15%的在线订户是可能有多个订阅。因此,订阅市场已经增长,并且随着越来越多的企业采用这种模式,订阅市场将继续增长。

根据Whitler(2016)的研究,现代市场正变得越来越复杂,因为企业已转变为基于在线和订阅的模式,并且竞争日益激烈。她认为,社会和市场的变化导致了消费者购买行为的转变,其中更多的消费者倾向于使用订阅的临时所有权而不是传统的按产品付费。在酒店业中,全球经济的巨变要求创新和有远见的管理人员提出增长战略,以在市场竞争中实现多元化和生存。因此,管理人员会为您提供具有竞争力的套餐,客户可以每月或每年订阅一次。

价值创造 经济论文代写

大多数酒店通过订阅服务和产品(例如高尔夫,客房,食品,送货和其他程序)来出售其价值。订阅通过创造效率,互补性,锁定性和新颖性来创造价值。对企业和客户而言(Amit和Zott,2001年)。通过提高效率,客户可以感觉到交易成本是可以承受的。更高的效率基于产品/服务的价值。当酒店将其服务打包为客户可以预订的捆绑包时,便会提供互补性。另一方面,锁定是一种保留订户并避免将其流失给竞争对手的策略。新奇正在创造创新,作为开展业务的一种方式。这些是酒店经理采用订阅模式时追求的四个价值驱动因素。

归因于基于订阅的模型(SBM)的两个因素是便利和策展(Randall,Lewis,&Davis,2016)。对客户而言,便利的作用不是必须执行重复的例程,而是订阅此类服务。另一方面,策展正在为每次访问酒店的顾客创造新的和创新的产品和服务。对于希望对新产品进行探索感到惊讶的客户,策展起着至关重要的作用。

经济论文代写

铂尔曼和罗杰斯(Pullman and Rodgers)(2009)撰写的酒店和旅游杂志探讨了酒店如何通过拥有“集成的游客偏好和运营研究模型,线性规划和模拟模型”来管理其容量。此模型可用于订阅服务中以进行客户预订和保留。集成这些模型后,酒店管理人员就可以跟踪服务的可用性以及向客户的交付情况。经理还可以根据人力需求预先计划,因为他们能够通过每年每月订购的服务来预测客户流量。此外,Koide and Ishii(2005)观察到,良好的酒店管理模式具有允许向订阅的客户提供优惠服务的好处。这是保留他们并继续更新其成员资格的战略。高级会员具有获得折扣服务的优势。使用他们的建议模型并将其应用于预订模型中,酒店可以减少超额预订和取消。

旅馆业中的价格分布是不对称的。经济论文代写

巴斯蒂安(Bastian,2014年)在他的文章中承认,订阅经济中的定价是复杂的。因此,需要一种合适的机制来确定各种订阅的价格。在订阅模型中,管理器相对于接收到的订阅和包级别的注册数量来重视其服务。可以将酒店获得新订阅的费率用作设置价格的变量。根据McNea(2017)的文章,企业可以根据提供的套餐水平来收取不同的价格。他观察到订阅的范围从每月到每年。每月订阅的用户的支出可能会比每年订阅的用户高。因此,公司会提出不同的认购要约,以使他们的利润最大化。

考虑到文献综述,SBM是现代经济中未来的经商模式。显然,酒店采用这种模式可以保持市场趋势的动态,并能够创造创新和具有竞争力的产品和服务。 SBM的价值创造取决于酒店为客户创造的便利和策展。

References  经济论文代写

Amit, R., & Zott, C. (2012). Creating Value Through Business Model Innovation. MIT Sloan Management Review, 41-49.

Bastian, K. (2014). How the Subscription Economy is Driving a New Kind of Business Model. Retrieved from https://www.forcemanagement.com/blog/how-the-subscription-economy-is-driving-a-new-kind-of-business-model

Columbus, L. (2018, May 4). The State Of The Subscription Economy, 2018. Retrieved from https://www.forbes.com/sites/louiscolumbus/2018/03/04/the-state-of-the-subscription-economy-2018/#5a21e5dc53ef

Koide, T., & Ishii, H. (2005). The hotel yield management with two types of room prices, overbooking and cancellations. International Journal Of Production Economics, 93-94, 417-428. doi: 10.1016/j.ijpe.2004.06.038

McNea, B. (2017). How the Subscription Economy Will Change the Price We Pay. Retrieved from https://adage.com/article/digitalnext/subscription-economy-change-price-pay/307966/

Pullman, M., & Rodgers, S. (2009). Capacity management for hospitality and tourism: A review of current approaches. International Journal Of Hospitality Management, 29(1), 177-187. doi: 10.1016/j.ijhm.2009.03.014

Randall, C., Lewis, A., & Davis, A. (2016, January 8). How subscriptions are creating winners and losers in retail. Retrieved 10 October 2018, from Harvard Business Review: https://hbr.org/2016/01/how-subscriptions-are-creating-winners-and-losers-in-retail

Teece, D. (2010). Business models, Business strategy and innovation: Long Range Planning (43), 172-194.

Whitler, K. (2016). How the subscription economy is disrupting the traditional business model. Retrieved from https://www.forbes.com/sites/kimberlywhitler/2016/01/17/a-new-business-trend-shifting-from-a-service-model-to-a-subscription-based-model/#18b02d2f4a5f

经济论文代写
经济论文代写

 

 
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