Priceline.com Essay examples - 1634 Words

Priceline.com Priceline.com is an Internet company that pioneered a unique type of e-commerce known as â€Å"demand collection system† that enables consumers to use the Internet to save money on a wide range of products and services while enabling sellers to generate incremental revenue. Using a simple and compelling consumer proposition of â€Å"name your price,† the consumer is in control of the product they wish to purchase. In the form of individual customer offers guaranteed by a credit card for a particular product or service at a price set by the customer and communicate that demand directly to the participating sellers or to their private databases. The company works by allowing the consumers to agree to hold their offers open†¦show more content†¦Sales with an average of one ticket sold every 70 seconds. With its leisure airline ticket service, priceline.com collects consumer demand and helps airlines fill thousands of empty seats every week on their domestic and international flights. Consumers simply tell priceline.com the location, the date they want to travel, the price they’re ready to pay and the major credit card they’ll use to guarantee their request. Consumers then receive an answer from priceline.com in one hour for domestic travel, or 24 hours for international travel. The â€Å"name-your-price† buying service that launched in April, sold a record 20,000 tickets online in the last six weeks. In another article titled, â€Å"After First 45 Days, Priceline.com’s New Car Sales Pass $2 Million Mark In New York Market Test,† Priceline.com launched a new car buying service in the New York metro area in July of 1998. The service enables buyers to name the exact car or truck they want, the price they want to pay and the counties they are willing to travel to in order to take delivery of their new car. However, all customers must either have their own financing or pay cash for their new cars. The financing plan is only a limit in the market test; priceline.com now has a financing option that enables consumers to name their own monthly payment plan. The patented e-commerce system has attracted thousands of car buyers and has sold more than $2 million worth of new cars just 45 days after launchingShow MoreRelatedBusiness Models Of Priceline And Greentoe1629 Words   |  7 Pagesapplication is that of Priceline.com. Priceline is one of the top ranked United States travel sites, gaining 17.5 million visitors per month and bringing in revenues of over 5 billion dollars (Laudon Traver, 2014, p. 718). Priceline is most commonly known for their travel services but also participates in automotive sales, hotel bookings, car rentals, long distance phone services, and home financing (Laudon Traver, 2014, p. 718). To use the Name Your Own Price feature on Priceline.com, a customer entersRead MorePriceline Or Priceline.com ( Pcln )825 Words   |  4 PagesIntroduction Priceline or Priceline.com (PCLN) is a travel agency that offers cruises, hotel rooms, airline tickets, vacation packages, excursions and rental cars. The company s Name Your Own Price option offers its customers an incredible proposition by allowing them to name their own price for any travel related products or services. Priceline.com determines the lowest price it can accept, while the customer has the discretion in the supplier selection. Priceline.com also provides a brand preservingRead MorePriceline.Com Marketing Analysis2151 Words   |  9 PagesPriceline.com Introduction Winners don t do different things, they do things differently. Priceline changed the conventional marketing system by introducing a role reversal of the traditional seller-buyer system. Launched in 1998, Priceline, the brainchild of Jay Walker, provided lower than retail airfare options for travel enthusiasts. Priceline is the eBay of airline tickets, allowing the buyer to bid (once) for the fare. By facilitating sales below retail price via the Internet,Read MorePriceline.Com: Changing Business in the New Millennium1093 Words   |  5 PagesPriceline.com: Changing Business in the New Millennium Q#1: How does the internet illustrate the marketing concept in action? Answer: In marketing concept, delivering the products to the consumers according to their needs is the way to achieve organizational goal. Internet is doing this job nicely. Today, people want numerous number of products at the near of their hands. But the traditional form of marketing is no more suitable for consumer groups. That’s why they want easier to achieve ofRead MoreCan Business Model of Priceline.Com Be Saved3209 Words   |  13 Pagesmortgages. Since launching its business, priceline.com has sold millions of airline tickets, hotel room nights, and rental car days. Priceline.com is the patented Internet pricing system that enables consumers to achieve significant savings by naming their own price for goods and services. Priceline.com takes consumer offers and then presents them to sellers who can fill as much of that guaranteed demand as they wish at price points determined by buyers. Priceline.com licenses its business model to independentRead MoreAn Online Global Hotel And Travel Business790 Words   |  4 Pagesonline global hotel and travel business that is a part of the travel industry, and it is made up of five primary brands: Booking.com, Priceline.com, Agoda.com, KAYAK.com, and Rentalcars.com. They also conduct business in over 180 countries and territories in Europe, North America, South America, the Asia-Pacific Regions, the Middle East, and Africa (Priceline.com/Investor Relations). The travel industry consist of businesses that sell, book, and arrange travel, tour, and accommodation services forRead MoreEssay about Financial Analy sis of Priceline2191 Words   |  9 Pagescompany headquarters is located in Connecticut (â€Å"Priceline.com Incorporated History†). Funding Universe, also adds that Priceline is a transactional service that offers products in two categories: a travel service that offers leisure airline tickets, hotel rooms, rental cars, packaged vacations and cruises; and a personal finance service that markets home mortgages, refinancing and home equity loans through an independent licensee (â€Å"Priceline.com Incorporated History†). Priceline points out â€Å"JefferyRead MoreThe Priceline Group Is An American Based Company1578 Words   |  7 PagesLong: PCLN (Market Cap: $80.73B) 1. Summary Thesis: The Priceline Group is an American-based company that provides travel and related services to consumers and local partners. It has six primary brands: Booking.com, Priceline.com, agoda.com, KAYAK, Rentalcars.com and OpenTable. Among these brands, Booking.com is the company’s main platform. Now, The Priceline Group operates in over 200 countries and areas and becomes the biggest online travel agency in the world. The total revenues of the PricelineRead MoreStock Split2405 Words   |  10 Pagesmonths. So, you end up with the same worthless stock with fewer shares. If, however, the company has substance (earnings, etc.) behind the stock, a reverse split can be a good thing. Priceline.com would be a good example of the company for which reverse stock split worked well in recent years. Priceline, Inc Priceline.com, Inc operates as an online travel company in the United States and Europe. It offers its services under the Name Your Own Price brand, which allows its customers to make offers forRead MoreBusiness Models in Ecom1049 Words   |  5 Pagesmodel: Financial services Travel services Job placement services 2 Market Creator Uses Internet technology to create markets that bring buyers and sellers together Where they can display products, search for products and establish prices Priceline.com (reverse austion), eBay.com Service Provider Offers services online xDrive.com – information storage Mybconsulting.com – consulting for small businesses Typically uses a transaction fee revenue model Usually a commission on sales is collected