经济论文代写商业论文代写 Business model代写

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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.

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。