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A novel architecture to monetize digital offerings

Author

Listed:
  • Richard Reisman

    (Teleshuttle Corporation)

  • Marco Bertini

    (ESADE—Ramon Llull University)

Abstract

As commerce continues to shift to the digital domain, organizations respond by improving and evolving their approach to creating value for customers. When the time comes to convert digital anything into cash they can bank, the same organizations, however, seem stuck in time. The purpose of the article is to highlight this inconsistency and, importantly, propose a solution. First, we leverage the literature on freemium and participative pricing mechanisms to lay the foundations for a revenue architecture fit for the digital economy. We argue in favor of three building blocks: empowerment, dialog, and reputation. Second, we describe FairPay as a promising configuration of these factors.

Suggested Citation

  • Richard Reisman & Marco Bertini, 2018. "A novel architecture to monetize digital offerings," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 17(6), pages 453-458, December.
    • Handle: RePEc:pal:jorapm:v:17:y:2018:i:6:d:10.1057_s41272-018-0143-3
    DOI: 10.1057/s41272-018-0143-3
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    References listed on IDEAS

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    1. Greiff Matthias & Egbert Henrik, 2017. "The Pay-What-You-Want game: What can be learned from the experimental evidence on Dictator and Trust Games?," Management & Marketing, Sciendo, vol. 12(1), pages 124-139, March.
    2. Kahneman, Daniel & Knetsch, Jack L & Thaler, Richard, 1986. "Fairness as a Constraint on Profit Seeking: Entitlements in the Market," American Economic Review, American Economic Association, vol. 76(4), pages 728-741, September.
    3. Egbert, Henrik & Greiff, Matthias & Xhangolli, Kreshnik, 2014. "PWYW Pricing ex post Consumption: A Sales Strategy for Experience Goods," MPRA Paper 53376, University Library of Munich, Germany.
    4. Natter, Martin & Kaufmann, Katharina, 2015. "Voluntary market payments: Underlying motives, success drivers and success potentials," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 57(C), pages 149-157.
    5. Martin Spann & Robert Zeithammer & Marco Bertini & Ernan Haruvy & Sandy D. Jap & Oded Koenigsberg & Vincent Mak & Peter Popkowski Leszczyc & Bernd Skiera & Manoj Thomas, 2018. "Beyond Posted Prices: the Past, Present, and Future of Participative Pricing Mechanisms," Customer Needs and Solutions, Springer;Institute for Sustainable Innovation and Growth (iSIG), vol. 5(1), pages 121-136, March.
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    Cited by:

    1. Reisman, Richard & Payne, Adrian & Frow, Pennie, 2019. "Pricing in consumer digital markets: A dynamic framework," Australasian marketing journal, Elsevier, vol. 27(3), pages 139-148.
    2. Michael Neubert, 2020. "Pricing Decisions of FinTech Firms," International Journal of Marketing Studies, Canadian Center of Science and Education, vol. 12(3), pages 1-14, September.

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