Marketing Challenges of New Economy

According to Geron, the sharing economy involves asset owners who use digital clearinghouses to capitalize unutilized capacity of assets and things they already have and consumers lease from peers instead of purchasing or renting from companies. Apart from Airbnb, which is the most popular example of the share economy phenomenon, there are others have been a minimum of 100 organizations sprouting to provide owners some income to different forms of physical assets without necessarily purchasing anything. Major merit of the sharing economy is that it has created a market for items and things that were rarely considered valuable or monetizable in the past. They include driveways, penthouses, and drills. Apart from that, the sharing economy has also provided an opportunity for asset owners to make extra income from their assets as well as earn a living for others.