Sorry for the delay, I’ve been SUPER busy with other projects and I’ve been neglecting this poor blog. But now I have to get back into the swing of things.
ANYWAY:
Relationships – connection or bond, commitment
intellectual relationship – based on value or attributes, logical
Firms Want Relationships with Customers
-Anticipate positive feelings from remaining loyal to seller
-Trust that the seller will provide good value
-Feel the brand represents you
-Promote seller to friends and family
-Seek out and actively read seller’s promotional material
Pricing
Dynamic Pricing – one of the most significant contributions the internet and the 2 i’s have made to the pricing stategy
-Internet has enhanced dynamic pricing by decreased menu costs and interactivity
Auction Types
-English Auctions
-Dutch Auctions
-1st price sealed bid auctions
-reverse 1st price sealed bid auctions
-group buying
-exchanges