GROUP ASSIGNMENT

Group members:
1.Bùi Thị Hoàng Anh
2. Nguyễn Khánh Linh
3. Nguyễn Toàn Anh
4. Nguyễn Mai Hoàng Khanh
5. Nguyễn Cảnh Nam
6.Nguyễn Minh Phúc

I.Sharing Economy business models:

1. Definition of the sharing economy
The term "sharing economy" is used to describe a system of economic activity that
allows people to exchange or trade resources like goods, services, or knowledge
with one another using an online platform or network. This type of economy
generally relies on technology to bring people together and process transactions,
and it often focuses on shared use of resources, using access instead of ownership,
and consuming collaboratively.

Two sharing economy business models:

a.Example of using Uber application

Uber is a company that specializes in car rental services with drivers. It allows users
to call a car with one click on the phone and pay online. Uber's service offers a
convenient and reasonably priced alternative to traditional taxi firms. It operates
worldwide and is becoming one of the most popular chauffeur-driven car rental
services today.

b.Example of using Amazon application

Amazon, a platform that allows you to buy, sell, and sometimes exchange new and
used goods without direct interaction is an example of the sharing economy.
Markets, retail outlets, and manufacturers often sell new items with a significant
markup. But when you share a physical good, you cut out the middle man – the
retailer or manufacturer – and recover some of what you paid for it.
2. Comments on Sharing Economy Business Model :

1.Comments on the definition:

An economic system known as the sharing economy has been developed, allowing
individuals to trade or distribute possessions or services through a web-based
platform. Examples of sharing economy companies include Amazon for short-term
lodging, Uber for transportation, and Amazon for miscellaneous tasks.

2.Comments on how the Sharing Economy Business Model

works:
The sharing economy is an economic system where people can exchange or trade
assets or services using a web-based platform. Examples of sharing economy
organizations include Uber for transport, and Amazon for miscellaneous tasks. It has
been praised for its innovation and convenience, but also criticized for its effect on
conventional business models and employee rights.

3.Advantages and disadvantages of Sharing Economy

Business Model:

a.Advantages:

Similarity:

● Uber can easily call a car with one click of the phone and amazon quickly with
just a few clicks
● Two sharing economy business model services are available worldwide.

a.Uber:

● Competitive pricing: Uber's prices are usually cheaper than traditional

taxi firms.
● Safety: Uber provides driver and vehicle information to users before they even
board.

b.Amazon:

● Help buyers get needed items at a lower cost

● Shop quickly with just a few clicks

b.Disadvantages:

b.Uber:

● Region restrictions: Uber's service is not available in some regions.

 ● Fixed costs: Uber's costs can be high during certain times, such as during
peak hours or tourist seasons.
● Controversy with taxi organizations: Uber has had many controversies with
taxi organizations and road traffic management organizations.

b.Amazon:

● Product quality may not be guaranteed because Amazon cannot control all
sellers
● There may be delays in delivery or loss

=> Comment about sharing economy

Pros:
- provide domestic resources to those in need quickly through technology
- Sharing economy is convenient for users and increasingly widely accepted
- The market size grows rapidly

Cons:
- One is unequal competition
- Tax administration for the sharing economy model in our country is still very
difficult
- increase the level of risk

II.Customer Co-Creation programs:

1.Definition of the customer co-creation programs:

Customer co-creation programs involve customers in the process of creating a
company's goods or services. These initiatives allow customers to provide input and
ideas, which can be integrated into the eventual product. As a result, there is an
increased level of customer satisfaction and a product or service that is more
suitable to their needs.
2 Customer Co-Creation programs:

a.Example of using Unilever application

Unilever is one of the world's largest consumer goods companies, owning over 400
well-recognized brands, including Dove, Lipton, Best Foods, and many more.

With operations in 190 countries and products used by over 2.5 billion people on a
daily basis, Unilever has a massive pool of customers from which to source ideas
and solutions to product development questions.

b.Example of using Lego

Lego is a line of assembled toy products consisting of colorful bricks that are
assembled together to build many objects such as vehicles, high-rise buildings and
people - can function, .. .. Anything.

Lego Ideas is an online community for sharing puzzle ideas from Lego users. When
the idea reaches 10,000 supporters, it will be transferred to the management
department, reviewed, carried out to turn the idea into a product and sell it on the
market.

2. Comments on customer co-creation programs:

1.Comments on the definition:

Co-creation is particularly about alignment between participants and

cross-pollination of expertise and viewpoints. A highly interactive agile approach is
how you gather the clearest insights and collaborate progressively with stakeholders
and others. That way, it can cover all the angles regarding how the service can be
delivered to maximize value to customers and the business.

→ A co-creation approach that delivers more innovation and value — not only to the
business and customers but also to society at large.

2.Comments on how the customer co-creation program

works:
A customer co-creation program work involves customers in the product
development process. The success of a program depends on several factors,
including the level of customer engagement and the quality of customer feedback.
Well-designed and well-executed programs can lead to improved products or
services.

3.Advantages and disadvantages of customer co-creation

programs:

a.Advantages:

a.Unilever:

● With the support of Unilever Global Group, it has a strong financial

background.
● The price is relatively acceptable, while the quality is very high, not inferior to
imported goods.
● Unilever Vietnam's technology research and development situation is always
focused and invested satisfactorily.
● Effective talent attraction policy

b.Lego:

● Help drive the launch of 23 dedicated LEGO Idea sets

● Raised revenue, saving this beloved company from a predicament.
● Connect with customers, help create new fan communities around the world

b.Disadvantages:

b.Unilever:

● Unilever had to cut its budget more or less due to difficulties

● Key positions in the company are still held by foreigners.
● There are still technologies that cannot be applied in Vietnam due to high
costs
● Prices of some Unilever products are still quite high compared to the income
of Vietnamese people, especially in rural areas.
● As a company of European origin, Unilever's product promotion strategy is not
yet in line with Asian culture.
 b.Lego:

● Stealing ideas can cause loss of user trust

● Users' apprehension when they contribute ideas
● Contribute ideas for your favorite brand because of passion and experience
rather than wanting your idea to become an outstanding product line that can
make money

⇒ Comment about co -creation

Pros:
- Collect a lot of information, thereby understanding customers and industry
trends
- Contribute to the success of the product, helping customers become more
attached to the brand
- Increase competitive advantage over competitors in the industry

Cons:
- Difficulty in creating the motivation to engage participants in the co-creation of
ideas.
- Stealing ideas can cause loss of user trust