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[PR] Chapter 9&10, G3 (BAITIA1 Aileen, IPCM4 Tiffany, IBS4 Kai, IBSm1…

- - - - :!!:Cash flow、Inventory turnover、Operating profit margin
      - :!:Gross Profit、Indirect Costs、Return on Investment (ROI)
  - - - The BranchOut case shows that simply boosting “member numbers/registrations” is a fatal mistake.
        
        :star:Number of activities and number of satisfying interactions.
- - - - Porter's Five Forces
      - Resource-based view
        
        e.g. De Beers
    - - Challenge: hypercompetition
        
        The advantage is no longer sustainable
      - Peter Drucker: The purpose of a business is to create customers
        
        Continuously create customer value
      - Technology makes it easier for startups to access key resources
      - "Flexibility" and "speed" are the new advantages
  - - - e.g. Sony (PlayStation) vs iPhone
        
        Apple has achieved far greater financial success than Sony
      - Creating value through ecosystems
        
        Platform companies manipulate network effects to reshape the market
        
        competition is not a zero-sum game
    - - e.g. Airbnb hosts compete with each other
      - The more accessible a platform becomes, the fiercer the competition among its participants
    - - e.g. Amazon operates its own brand (Amazon Basics) on its platform and competes with seller
      - Strengthening the platform, but weakening partners, resulting in long-term negative consequences
      - The platform competes with its partners within its ecosystem
  - - - e,g, Facebook
  - - - e.g. Alibaba and Facebook owns its search
    - - niche resources → for partners
      - high-value core → platform owners control
  - - - Users may abandon one platform for another, which promotes switching
        
        Platforms seek exclusive access to essential assets
    - - Apple restricts Flash on iPhone operating systems
      - Reason
        
        To prevent developers from using content across platforms
        
        Retain 30% transaction commission & important user data
    - - A long-term strategy game
        ⭢ sacrificing short-term traffic to retain ads monetization
      - Alibaba blocks Baidu’s bots
      - Profits in 2014 exceeded Amazon's total historical profits
- - - - Early entrant into the market
        
        Limitation of data
        
        Everyone choose to leave platform
    - - A and B version
        
        Tactical analysis is effective
    - - Using ecosystem and tracking
        
        Strategy data analysis
    - - Capture data and interaction
  - - - Platform owner observed partner transacts on the platform
        
        Facebook chooses to not merger Farmville, cause FarmVille is high risky
  - - - Real audio
        
        Microsoft can develop similar product like Real Audio
    - - Haier Group try to enevelop home application
        
        Platform offers supervise value can win a competitive battle
  - - - Airbnb has a better platform than Craiglist, because of platform fuctions and matching.
  - - - supply economic of scale
        
        strong network effect
        
        high multihoming or switching costs
        
        lack of niche specialization
    - - participate on more than one platform
        
        take advantage which provided by platform
      - When it is high cost, People can not afford Android and Apple at the same time, they have to choose one of it.
        
        Lower cost encourage people have more platform like visa card, American express and Mastercard.
- - - - managers must faces new challenges and make sure the platform continues to grow and create more value📈
    - - Monitoring the Size and Balance of the User Base⚖️
        
        e.g. A freelance platform focuses on keeping
        the number of freelancers = number of job postings
        
        imbalance on either side can cause participants to leave
      - Long-term Value (LTV) and Interaction Metrics🔮
        
        Producer side
        
        👍How many successful interactions they completed
        
        They also track the interaction failure👎
        (e.g. a buyer shows interest but never buys)
        
        Fraud🙈
        
        e.g. producers lied about a product or late delivery
        
        To help the platform predict and stop future problems
        
        Consumer side
        
        How often consumers use the platform and make a real purchases
        
        Calculate consumer LTV
        
        Interaction Conversion Rate
        
        help platform managers to develop smart strategies that will enhance the platform’s continuous growth
        
        e.g. Airbnb noticed that better photos make more people book a place🌆
        
        added a photography service to increase conversions📸
      - Strategic Metrics♟️
        
        User distance
        
        How close and often consumers interact with producers🎭
        
        The smaller the distance, the better the platform works
        
        Activity
        
        Platforms added features to keep users active and encourage more interactions🎡
        
        e.g. Instagram reels keeps users watching and interacting
  - - - Level of trust
        
        Reducing the perceived risk for users is the core way to increase their level of trust.
      - Liquidity
        
        The minimum number of producers and consumers required to achieve a large number of successful interactions, ensuring that users can fulfill their participation goals in a timely manner.
      - Match quality
        
        Measure the accuracy of the platform’s algorithms and navigation tools to reduce users’ search costs and quickly and accurately connect them to co-created value.
  - - - maintain and enhance its value proposition against competitors
    - - focus on identifying opportunities for innovation and threats from competitors.
    - - platforms that have reached the maturity
        phase should meet three major requirements
        
        1.Drive innovation🧐
        
        To see what new features that users need
        
        e.g. Apple created Apple Maps because Google Maps was becoming a big part of the iPhone’s value
        
        2.High Signal-to-Noise Ratio📊
        
        To give clear and useful information instead of messy and confusing data
        
        3.Facilitate Resource Allocation📍
        
        To help the platform decide where to spend time, money, and effort
        
        Should we fix interaction failures?
        
        Should we build a new feature?
        
        Should we improve the security?