- Relationships – a bond between two parties
- Pricing
- Communication
Why do firms want relationships with customers?
- Word of mouth
- Trust
Pricing type open up by the internet
Auction -> Dynamic pricing
<a href=”http://Mysimon.com” title=”http://Mysimon.
” target=”_blank”>Mysimon.com
Pricing Types
- Cost plus
- Comptetitive pricing
- Demand pricing
- Lost leader
- EDLP (everyday low prices) – i.e Wallmart
- Luxury pricing
- Frenzy pricing
Stub-hut
E-bay
Dynamic Pricing Strategies
*decreased menu costs
- Interactivity
Auction Types (important)
- English auction
- Reverse-price English auction
- Dutch Auctions
- First price sealed – Bid auctions
- Reverse First Price Sealed – Bid Auctions
- Group buying
- Exchange