Bus620 Week 5 Assignment

You Can Rent Mine

Mary LaVaque

BUS620: Managerial Marketing

Dr. Avisha Sadeghinejad

May 4, 2015

You Can Rent Mine

In a world where the consumer is looking for the new hip way of doing things for themselves the share economy has found its new best friend. Neighbors have been borrowing tools for years but now we charge each other for them and that might just be a good thing since in the past tools were borrowed only never to be seen again but now if you are paying for it you will more than likely return it sooner. Does the same hold true for vacations and car share? Where does the share economy stop and how does it affect the flow of the traditional economy function. This paper will discuss the benefits and downfalls of the share economy and where we go from here.

Shared Economy Defined

According to an article that Gobble (2015) wrote for Research Technology Management the Shared Economy is one where individuals rent out resources they're not using a set of apps that allow people to connect with each other to engage in peer-to-peer transactions. People can post on sites based on what type of item or service they have to offer for use and a consumer can contact them to rent the item for a period of time specified and agreed upon. The sites often give the consumer the option to leave an opinion on the service or quality of the product or person who they interacted with. This can help or hurt the “renter” depending on the feedback. The shared economy is an economy where instead of going out to the store and buying a brand new item to use once and have it sit on your shelf an collect dust you instead seek out the same item close by in the neighborhood to borrow for a small fee for the day, week or hour to get the job done and return it. Or if you want to go on vacation and instead of staying in a hotel and renting a car for the major brand lines you find a house to rent from a local home owner and...