Two-Sided or Platform Markets Are an Emerging Trend According to the Textbook

question 40

Essay

Two-sided or platform markets are an emerging trend according to the textbook authors.Choose an example of an existing platform market and explain how this firm positions itself to become the dominant player linking suppliers and customers.

Understand the concepts and importance of Customer Relationship Management (CRM).

Distinguish between different types of CRM systems and their targeted business scales.

Recognize the significance of customer satisfaction and retention strategies.

Assess the deployment and integration challenges of CRM systems.

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Definitions:

Nielsen Media Research

A company that measures and analyzes television, radio, and newspaper audiences to provide data on media consumption patterns.

Observation

The act of noticing or perceiving something and registering it as being significant, often used as a method in scientific research.

Competitor Threat

The potential or actual challenge posed by another business or entity that offers similar products or services, impacting market share or profitability.

Cause-Effect Relationships

The principle that every event (effect) has a cause or causes that explain why the event occurred.