Platform strategies, managing multisided platforms
10 important questions on Platform strategies, managing multisided platforms
What is technological dominance?
What are two-sided platform markets?
What are the three elements of two-sided platform markets? Give a concrete example.
- Platform
- Complementors
- End-users
Magazine example: Platform = Magazine, Complementors = Advertisers, End-users = Readers.
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When can you describe a platform as being (wholly) open?
When to open a platform architecture? And when not?
- Market is too large to cater by single firm
- Participants can offer valuable innovations/diversity
- (Innovative) New entrants need to be deterred
Do not open when:
- Platform lacks appropriability mechanisms
- If platform owner has a clear technological trajectory in mind
Name the dominance factors for both the firm-level and environmental-level.
- Technological superiority
- Complementary assets & credibility
- Strategic manoeuvring
- Size of installed base
Environmental level:
- Regulation
- Network effect & Switching costs
- Appropriability regime
- Characteristics of tech. field
What are the milestones towards achieving technological dominance?
- Pioneer starts doing applied R&D to develop commercial product
- Appearance of first working prototype
- Launching of first commercial product
- Presence of clear front-runners
- Achieving market dominance
How can you ensure platform success?
- Get your pricing right: subsidize quality- and price-sensitive users while securing 'marquee' users' exclusive participation in your platform
- Cope with winner-takes-all competition
- Avoid envelopment
How do indirect network effects in the product cycle of video games work?
What should the pricing strategy of platform providers in the gaming industry look like?
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