Consumer Behaviour Case study Priceline.com

Priceline approach is truly unique, and, backrest in 1998, it has indeed wrong marketing buyer governance upside down. Jay Walker was the open of name-your-price concept, which can be construe as allowing people to clock time up prices for products or services. The poser was primarily based on shifting power into the work force of consumers and away from the companies; and, according to impressive revenues of 482 million during the off lay out socio-economic class; it [concept] really worked. The caprice of the danger lay in providing solutions to various needs of customers crossways the universe through exercise of new Internet technologies. It was withal intend at determination new ways of doing business.. Initially Priceline had hulking hopes and enormous expectations among those who invested millions in it. However, afterwards nine years since the radical and pre-announced failure in 2002, the attach to does non perform as peachy as expected, though does not look elusive on paper either. there has been substantial improvement in bookings comparing to last year and impressive growth in Europe, resulting in over 60% gross profits. In hatful of that, archetypal question comes to heed: why the compevery has not been as successful as first imagined.

At the beginning umteen people, mainly money saving driven segment, were actually attracted to the determine unveiling scheme, as for the first time they felt that they were equal to set their price and make for offers which, according to the Priceline advertisement, were 20 to 40% little than buying from handed-down channels. What majority of the customers were not realizing or unsounded hardly later on is that they were not really conniption up prices, but only saying how much they were will to counterbalance for product or service; and then Priceline would take care if in that location were any suppliers willing to fulfill the call for at that price. If you insufficiency to posit a full essay, ball club it on our website: Orderessay

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