EcoExchange - Circular Economy Platform
Product strategy for a circular economy marketplace enabling sustainable consumption. Academic project exploring business models for environmental sustainability.
EcoExchange - Circular Economy Product Strategy
Overview
Developed a comprehensive product strategy for EcoExchange, a circular economy marketplace platform aimed at promoting sustainable consumption patterns. This project was completed as part of Term 3 Product Strategy coursework, focusing on building business models that balance profitability with environmental impact.
Problem Statement
Linear consumption models ("take-make-dispose") contribute significantly to environmental degradation and resource depletion. A circular economy approach, where products are reused, repaired, and recycled, offers a sustainable alternative but requires new business models and platforms to facilitate these transactions.
Key Components
Product Vision
- Create a marketplace connecting buyers and sellers of pre-owned, refurbished, and upcycled goods
- Enable repair services and product lifecycle extension
- Build community around sustainable consumption
Target Market Analysis
- Environmentally conscious consumers
- Cost-sensitive buyers seeking quality alternatives
- Small businesses and artisans in the circular economy space
Business Model
- Commission-based revenue from transactions
- Premium features for power sellers
- Sustainability certifications and verification services
- Partnerships with repair and refurbishment services
Go-to-Market Strategy
- Community-driven growth through sustainability advocates
- Partnership with environmental organizations
- Content marketing around sustainable living
- Gamification for user engagement and behavior change
Strategic Insights
- Analyzed competitive landscape of resale and circular economy platforms
- Identified key differentiators in sustainability certification and community
- Developed pricing strategy balancing accessibility and sustainability
- Created phased rollout plan starting with high-engagement categories
Impact Potential
- Reduction in waste sent to landfills
- Extension of product lifecycles
- Support for local circular economy businesses
- Behavior change toward sustainable consumption