Customer relationship management (CRM) is a process in which a business or other organization administers its interactions with customers, typically using data analysis to study large amounts of information.
Name your own price (NYOP) is a pricing strategy under which buyers make a suggestion for a product’s price and the transaction occurs only if a seller accepts this quoted price. What happens is that the seller waits for a potential buyer's offer and can then either accept or reject that 'named price' that the user had offered. As the Internet is continuously being developed and online marketplaces are becoming increasingly more popular, consumers have more choices in terms of product pricing. Popularized by the reverse auction pioneer, Priceline.com, such pricing strategy asks consumers to 'name their own price' for various products and services like air tickets, hotels, rental cars, etc. The first bid a consumer places and the subsequent bid increments express the consumer's willingness or unwillingness to haggle. "The economic argument is that the number of bids a consumer submits to win a product in a NYOP auction is determined by the bidder’s intention to trade off higher expected savings from haggling against the associated frictional costs". NYOP retailers do not post a price for their products, and the final price of the transaction is only determined via a "reverse auction process", and these are key features that distinguish hotels and travel intermediaries from NYOP retailers. Similarly, LetYouKnow, Inc. pioneered the application of its own patented matching method within confines of the reverse auction process, whereby consumers name their own price for new vehicles.
In marketing, the unique selling proposition (USP), also called the unique selling point, or the unique value proposition (UVP) in the business model canvas, is the marketing strategy of informing customers about how one's own brand or product is superior to its competitors.
Customer service is the assistance and advice provided by a company to those people who buy or use its products or services. Each industry requires different levels of customer service, but towards the end, the idea of a well-performed service is that of increasing revenues. The perception of success of the customer service interactions is dependent on employees "who can adjust themselves to the personality of the customer". Customer service is often practiced in a way that reflects the strategies and values of a firm. Good quality customer service is usually measured through customer retention. Customer service for some firms is part of the firm’s intangible assets and can differentiate it from others in the industry. One good customer service experience can change the entire perception a customer holds towards the organization.
Loyalty marketing is a marketing strategy in which a company focuses on growing and retaining existing customers through incentives. Branding, product marketing, and loyalty marketing all form part of the customer proposition – the subjective assessment by the customer of whether to purchase a brand or not based on the integrated combination of the value they receive from each of these marketing disciplines.
Google Workspace is a collection of cloud computing, productivity and collaboration tools, software and products developed and marketed by Google. It consists of Gmail, Contacts, Calendar, Meet and Chat for communication; Currents for employee engagement; Drive for storage; and the Google Docs Editors suite for content creation. An Admin Panel is provided for managing users and services. Depending on edition Google Workspace may also include the digital interactive whiteboard Jamboard and an option to purchase add-ons such as the telephony service Voice. The education edition adds a learning platform Google Classroom and today has the name Workspace for Education.
LifeLock Inc. was an American software company active from 2005 to 2017. The company was best known for its eponymous LifeLock identity theft prevention software, now sold by Gen Digital after the latter acquired LifeLock in 2017. LifeLock's system monitors for identity theft, the use of personal information, and credit score changes.
Content marketing is a form of marketing focused on creating, publishing, and distributing content for a targeted audience online. It is often used by businesses in order to achieve the following goals: attract attention and generate leads, expand their customer base, generate or increase online sales, increase brand awareness or credibility, and engage an online community of users. Content marketing attracts new customers by creating and sharing valuable free content as well as helps companies create sustainable brand loyalty, provides valuable information to consumers, and creates a willingness to purchase products from the company in the future.
Social media marketing is the use of social media platforms and websites to promote a product or service. Although the terms e-marketing and digital marketing are still dominant in academia, social media marketing is becoming more popular for both practitioners and researchers. Most social media platforms have built-in data analytics tools, enabling companies to track the progress, success, and engagement of ad campaigns. Companies address a range of stakeholders through social media marketing, including current and potential customers, current and potential employees, journalists, bloggers, and the general public. On a strategic level, social media marketing includes the management of a marketing campaign, governance, setting the scope and the establishment of a firm's desired social media "culture" and "tone".
Trustpilot Group plc, is a Danish consumer business operating a review website founded in Denmark in 2007 which hosts reviews of businesses worldwide. Nearly 1 million new reviews are posted each month. The site offers freemium services to businesses. It has been criticised for the publication of fake reviews, and allowing companies to remove negative reviews. Trustpilot is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
Block Inc. is an American public company founded in 2009 by Jack Dorsey and Jim McKelvey. Initially named Square Inc., the company comprises various businesses within the financial technology sector. Block’s service network reportedly includes nearly 4 million merchants and 51 million users, as of 2023.
Medallia is an American customer and employee experience management company based in San Francisco, California, with offices in Buenos Aires, London, Tel Aviv, Munich, Paris, New York City, Washington DC, Austin and Sydney.
“BillGuard” was a personal finance security and productivity company. Its mobile and website application scans credit card and debit card transactions, alerting users to possible scams, billing errors, fraudulent charges and hidden fees.
Wikileaf Technologies is a Seattle business providing data services to the cannabis industry and information to consumers. The company provides price indexes and cannabis strain reviews and information.
Doorman was a privately held American technology company specializing in logistics services and products. The company managed and operated fulfillment centers and independent driver fleets in densely-populated urban areas, addressing the last mile gap between online retailers and their customers. It also developed, marketed and operated the Doorman mobile app, which allowed consumers to use their iOS or Android-based smartphone to schedule evening delivery of goods purchased online, or arrange pick up of goods intended to be shipped back to an online retailer.
Zapier is a product developed by Zapier Inc. that allows end users to integrate the web applications they use and automate workflows. As of 2021, it connects to more than 4,000 apps, with free and paid plans.
BillFixers is an American company that negotiates with television, internet service providers, and cell and landline companies on behalf of consumers or businesses. It was founded in July 2014 by brothers Ben and Julian Kurland with the goal of lowering household monthly bills from telecommunications service providers. BillFixers is an expert as a service (ExaaS) or justice-as-a-service company, which optimizes on work that feels menial to individual consumers. As of February 2020, BillFixers has over 25,000 clients and claims a combined savings of over $5,000,000. BillFixers was acquired by Experian in April 2022.
Boxed, Inc. was an American online and mobile membership-free wholesale retailer that offers direct delivery of bulk-sized packages via the Boxed app or the website. Boxed product offering has been compared to that of Costco. It is based in New York City and was founded in August 2013 by Chieh Huang, Jared Yaman, Christopher Cheung, and William Fong.
Buffalo Automation is an artificial intelligence (AI) startup that develops autonomous navigation technology for commercial ships, recreational boats, and water taxis with the goal to improve maritime safety. It is a private company based in Buffalo, New York. Thiru Vikram is the CEO of the company.
Chime Financial, Inc. is a San Francisco–based financial technology company that partners with regional banks to provide certain fee-free mobile banking services. The company offers early access to paychecks, negative account balances without overdraft fees, high-yield savings accounts, peer-to-peer payments, and an interest-free secured credit card. Chime earns the majority of its revenue from the collection of interchange fees on debit card transactions.
