Marketing-Mix of Online Social Lending Websites

Marketing-Mix of Online Social Lending Websites

Djamchid Assadi (Burgundy School of Business (Groupe ESC Dijon-Bourgogne), France) and Meredith Hudson (First United Bank, USA)
Copyright: © 2010 |Pages: 11
DOI: 10.4018/jeco.2010070102

Abstract

With the rise of microfinance in developing countries and its evolution to a business model in developed nations, microfinance has fully transitioned to the internet, taking the distinctive form of social lending. However, the marketing trends of emerging peer-to-peer micro-lending websites have been largely unexplored during its rise to recognition due to most studies focusing on financial, economic, political and humanitarian issues in context to microfinance. However, based on a sample of eight popular social lending websites, this paper uses cases to analyze the marketing elements of these sites to better understand how they function and to predict the future.
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Introduction

The sector of microfinance has been widely analyzed since its inception as an entrepreneurial approach to combat poorness. However, studies have been mainly related to the financial, economic, political and even humanitarian aspects of the microfinance, and much less to marketing. This is a considerable shortcoming because with the growth of competition in microfinance marketing becomes inevitable. The above failing has been even more alarming in the expanding field of peer-to-peer lending.

This paper aims to proceed with a marketing analysis of the peer-to-peer lending on the Internet. The research method will be based on an observational exploratory method to discover the peculiarities of the juvenile and fast-changing sector of peer-to-peer (P2P) lending, with regard to marketing mix elements. If citations are not specified, the information originates in the organization’s website.

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