New Open Digital Marketplaces: Giving Buy, Sell and Trust Control Back to Users
Vrinda Almadi,
Anmol Saxena,
Sarvjeet Herald
Issue:
Volume 5, Issue 1, January 2020
Pages:
1-9
Received:
29 December 2019
Accepted:
7 January 2020
Published:
23 January 2020
Abstract: Companies such as Amazon, Flipkart, Zomato, Oyo and Uber which we refer to as Digital Marketplaces are globally emerging across different business sectors. These marketplaces connect buyers and sellers and the marketplace owners act as central trustworthy authority to provide trade assurances. However, such a trust model could be problematic. Without any alternatives, rapidly growing users of the marketplace, both buyers and sellers are forced to trust the marketplace owner to satisfy their needs. Regulating users, control over digital transactions, exercising autonomy are other issues to name (but) a few indicating that marketplace owners are transparently replacing governments. In our view, Digital Marketplaces should be democratic as the markets in the real-world and control must be given back to the users since they are the contributors in the growth of these marketplaces. This paper presents a new way of Open Digital Marketplaces that model real-world buyer and seller interactions. Proposed solution involves users of marketplace as partakers in a digital transaction for connecting buyers and seller with trade assurances by leveraging their personal connections. Trust is made localized and the supply chain becomes subjective to the user as in the real-world. Switching the role of marketplace owner with the users, eliminates the need for trusting the marketplace owner as a central authority as well as diminishes autonomy and authority of the marketplace owner over the digital transactions. Users, with whose efforts trade is made digitally successful, are rewarded with an incentive, a type of shareholding in the digital transaction, as per the electronic contracts digitally signed by participants before executing the transaction. Disputes or violations of contract are resolved by an automated system, can also be escalated to an independent body or to a local court for a decision. Feedback received from the experiment based on the implementation of the proposed solution suggested ease of doing business by small businesses as well as increase in revenue. It also creates new opportunities for users to earn revenue share in digital transactions, instead of only the marketplace owners, in the emerging gig economy.
Abstract: Companies such as Amazon, Flipkart, Zomato, Oyo and Uber which we refer to as Digital Marketplaces are globally emerging across different business sectors. These marketplaces connect buyers and sellers and the marketplace owners act as central trustworthy authority to provide trade assurances. However, such a trust model could be problematic. Witho...
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Effectiveness of Trust Repair Strategies in the Crisis of Corporate Internet Public Opinion
Issue:
Volume 5, Issue 1, January 2020
Pages:
10-18
Received:
16 February 2020
Accepted:
28 February 2020
Published:
6 March 2020
Abstract: In the Internet environment, the network public opinion of corporate quality defects will cause enterprises to fall into the crisis of consumer trust. Enterprises often choose to issue announcements to deal with public opinion. Can an announcement release effectively restore trust? Are there differences in the effectiveness of different strategies in the announcement? It has become an urgent problem to be explored in the management of corporate public opinion crisis. This study takes the three corporate defect events exposed at the March 15th Evening Party as cases, and crawls the online comments and corporate response announcements on the microblogs about defect events. First, the sentiment analysis is used to calculate the emotional strength of the defect events. Secondly, the content analysis method is used to classify the trust repair strategies of the enterprise announcements. Finally, by constructing the trust repair strategy effectiveness model, the effectiveness of the trust repair strategy adopted by enterprises in different evolution stages is analyzed. The results show that in different stages of public opinion evolution, the release of response announcements can effectively enhance the emotional intensity of consumers. Moreover, in the emergency period, the relationship repair strategy is more effective; in the sustained period, the informational repair strategy is more effective; in the regression period, the functional repair strategy is more effective. Through practical cases, the research explores the effectiveness of enterprise trust repair strategy under the network public opinion crisis, expands the research content of enterprise network public opinion field, and provides strategic advice for enterprise public opinion crisis management.
Abstract: In the Internet environment, the network public opinion of corporate quality defects will cause enterprises to fall into the crisis of consumer trust. Enterprises often choose to issue announcements to deal with public opinion. Can an announcement release effectively restore trust? Are there differences in the effectiveness of different strategies ...
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