Tahmid-0773143 Assignment IBM120 6 PDF

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case study...

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Products and Services for a Global Market

1. Businesses taking advantage of the sharing economy, such as peer-to-peer rentals, are increasing in popularity. There are many differing legal implications from market to market. List strategies RentMe could employ to better comply with local regulations. Answer – Economic sharing firms like RentMe exists in ethical grey zones only as new laws are also updating the way they use. This emerging economy has brought in challenges to housing policy, broken transport rules and generated worldwide labor tensions. Hotels, for example, are expected to pay local lodging taxes. Some claim that leases from peer to peer must also pay this fee. In addition to legal challenges, there are fears that in the shared economy those organizations do not do enough to guarantee the protection and interests of their clients and hosts. A host guarantee/insurance policy is developed to ensure that all assets are protected. They should create a host guarantee/insurance policy that will allow any property fairly to be covered on the markets for harm caused by visitors. This is a way to protect their signature commodity and discourage it in other future markets from acquiring a bad reputation. They should analyze the economic climate in this region, in addition to undertaking comprehensive analysis into legislation and rules, in order to be able to get their views on their business model in an effective market entrance strategy. This global-local division is being filled by their underlying conflict to overcome. Any parts of travel experience, such as cleanliness, protection and insurance, need to be used everywhere. In the other hand, the urban experience and the possibility to accept local identity are a big part of what makes it stand out from hotel rooms in the public eye. But because of their hosts' lack of knowledge and skills, they should be willing to respond to new localization challenges. You should develop a framework to instruct your host in compliance with rules and define criteria for list assessment. This would allow them to prevent neglect and improve their host facilities consistently, on the basis of the data they have gathered. These data would be focused on consumer answers, local laws and latest patterns forecasts.

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Products and Services for a Global Market

2. RentMe is very focused on localizing to each market and to the even smaller markets within those markets. A number of localization strategies were described in the case. Suggest other strategies the company could use to really localize their service. Answer – There is a technique called RentLikeAChampion which this one business uses. The plan of RentLikeChampion began with them moving to the university cities where major corporations like AirBNB and the hotel chains were not. The market they sought to grasp was the college football market in the USA and they tended to find people who come out of town to watch the games which wanted to rent a spot. This is a very good example of localization since they went to these cities and they provided them with a very valuable service to expand local tourism and to make the event a place to spend their days and to sell more tickets. This is a very good example of location when they went into these towns and gave them a very good service to boost local tourists, encouraging the event tourists to stay and more tickets for an event to be sold. For both the cities and RentLikeAChampion this was a winning scenario. Rent Me might take a similar technique, travel to places where AirBNB is either missing or controversial, and sell rentals to people who go to a large event in the city to give them a place to stay at the event. This location means new markets and new industry prospects can quickly be exposed to themselves.

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Products and Services for a Global Market

3. To position itself at the top of the accommodation rental market and to reassure its marketplace that it is a professional and safe company, RentMe provides professional photographs for each accommodation listed on the site. This is done at an extremely high cost to the company. How would the RentMe team have analyzed this service offering to determine if it was a viable option? Answer – To evaluate whether it would be a better choice for them to compare sales income and how the industry operates, before they have professionals shoe and after, to analyze the feasibility of delivering high-quality pictures of rental property via professional photos. Document figures and comparison of statistics will still show the effectiveness of certain group campaigns or improvements. It will prove feasible when the gap is large. But if the gap is reasonably moderate, RentMe may take into account different choices, for example using a better camera. RentMe is a major business that knows and appreciates the value of its clients. They don't make attempts in short-term ties because they realize that they don't expect what they get from the organization. The rental industry needs long-lasting relationships and in order to retain it, the company is working hard to reach its clients with a high degree of loyalty and constructive feedback. Satisfied customers enjoy how the organization handle them and return to repeatedly use the services. Although the risk analysis field is a very high cost choice for a business, it estimates more benefit than likely losses. RentMe prioritizes customer support over benefit. They are willing to be in the market as much as they want and still operate on a profit margin, due to a good customer support. Another way to test the method's viability for qualitative considerations is to narrow down a selected audience - for example, existing clients or regular visits to the RentMe site or application - and ask for input on how they think about the images and rate how they've helped in their searches and decision-making process, and when they've done. RentMe will also add input and analysis of promotions for those who participated and encourage active participation. Personal ratings and feedback will still open up new opportunities to experience RentMe.

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Products and Services for a Global Market

4. Initially, when developing RentMe’s offerings, Alice and Nora didn’t provide any insurance to protect listers and their belongings. Eventually, as the case described, they took action to improve their offerings in this area. What could they have done while preparing to launch the company to avoid the negative attention they later received? Answer – Before the website was officially introduced, Alice and Nora should have tested the service (or even launched it softly). Test marketing, which helps to measure customer reactions to their service delivery, is a very critical aspect of the service creation process. They should have predicted the problems of insurance by prototyping and attempted to send their experiences and opinions to a few test users. They should also have set up focus groups to learn how customers viewed the service and how consumers could have such possible problems or problems (such as an insurance policy or a way to protect the people and houses of RentMe users). An additional tool that Alice and Nora might have used was to conduct a concept scenario where a few customers could attempt to come up with problems or problems with the infrastructure so that RentMe could fix the problems if they appeared, or even predict those problems that happened first.

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