Abstract
The business ecosystem has changed drastically. Advances in information technology, access to the internet, and pervasive use of mobile phones have given a spurt to various new age businesses adopting new business models. The empirical paper identifies the room sharing company as a new age platform business model. The study proposes and tests a conceptual model to study the factors influencing the consumers' attitudes towards Airbnb and their intention to purchase the services of Airbnb. The findings reveal that hedonistic values, social values, and financial value, along with e-word of mouth have a direct impact on consumers' attitudes towards Airbnb. Existing available literature is largely in the Western context and qualitative in nature. This paper is unique as it adopts a quantitative approach and provides insight about what really influences the consumers' attitudes towards this new and unique business model, thus enabling marketers to strategize accordingly.
Highlights
New age businesses have changed the business scape of today
The findings reveal that hedonistic values, social values, and financial value, along with e-word of mouth have a direct impact on consumers’ attitudes towards Airbnb
Social value was measured with three items adapted from Sweeney, &Soutar, (2001), perceived risk was adapted from Forsythe et al (2006).electronic word of mouth was measured by adapting the items from Jalilv & Samiei (2012) and for financial value Irani and Hanzaee (2011)
Summary
New age businesses have changed the business scape of today. The technology disruptions have drastically transformed the way the businesses are done nowadays. New age businesses are using strategic business models to gain strategic and competitive edge. This empirical paper in the Indian setting discusses the new platform business model of Airbnb and explores the consumers’ attitude towards buying Airbnb services. The new age organizations aim at models that have an element of innovation and market orientation, which gives business a strategic and competitive edge. This brings to desk the discussion on innovation in business models. These technological advancements shake the conventional wisdom of the old stalwarts and their inability to adapt to the new model (Rosenbloom, Christensen, 1994) gives rise to new age companies with innovative business models
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