TYPES AND METHODS OF COMPETITION IN MULTI-SIDED MARKETS
Journal Title: Вісник Кременчуцького національного університету імені Михайла Остроградського - Year 2018, Vol 1, Issue 109
Abstract
Purpose. To determine the essence of the concept of "multi-sided market" and the formulation of the author's definition, analysis of types and non-price methods of competition, as well as the definition of the characteristics of multi-sided markets that impact the establishment of competitive relations between the participants. Methodology. General scientific and special research methods were used in the article. Scientific abstraction, analysis and synthesis, induction and deduction, unity of historical and logical were the basis to determine the essence of the notion of "multi-sided market". The systemic-structural and functional analysis, the dialectical approach were used by the determination of non-price methods of competition in multi-sided markets. The combination of abstract analytical and economic and statistical methods has contributed to identify the features of multi-sided markets. Results. We have defined the essence of the multi-sided market. Having analyzed competition in multi-sided markets, we concluded that the improvement of information and communication technologies makes price competition methods less effective than traditional market structures, however, the importance of non-price methods increases. Our research allows us to identify the main non-price competition methods: innovation, product or service quality, reputation, free-rider problem, product differentiation, advertising and privacy. By subject structure, competition in multi-sided markets was classified into the following types: platform against platform; platform against partner; partner against partner; platform developer vs. platform developer; platform against classic firm. In the process of our research, we managed to determine that cooperation be-tween the participants in the multi-sided market is a key to success, since maximizing the network effect is achieved through joint efforts. Originality. In the article the concept of "multi-sided market" is grounded for the first time and its features in the conditions of globalization are determined. The main methods of competition are investigated and their influence on economic relations between market participants is characterized. Practical value. The results of our study are necessary for the analysis of the competitive environment, as well as in developing measures to increase the competitiveness of the firm in the multi-sided market.
Authors and Affiliations
I. Goncharuk
Keywords
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- EP ID EP659709
- DOI 10.30929/1995-0519.2018.2.p1.125-131
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