Flooz.Com 4a Analysis

PF506 Marketing Management Individual Paper (Stan) Kun-Ching Lin Electronic Currency harm Flooz.com. During the time when dot-com bubble occurred (roughly covering 1995 to 2000), there were many a(prenominal) seemingly creative ideas failed to satisfy customers due to the lack of consummate(a) market research before these dot-com ventures confidently launched their unverified business model. Flooz.com, one among these defunct ventures, can serve as a good example. Flooz.com started in Feburary1999, created by Robert Levitan.(1) Its main founding was to establish a virtual currency system in which the currency is known as Flooz currency and allow expendrs to use the currency to purchase gift certificate or pasture at Floozs partner sites. Robert wanted to innovate a distinguish new way of gift giving: A buys a gift certificate and sends the stored value attached to electronic accost cards or emails to B. B can choose to discharge right away or save the value. It did sound bid a great deal, convenient and fashionable, which as well gave community easy access to shopping at online merchants without having a book of facts card. Flooz signed with over 60 online merchants, including Starbucks, The Barnes and Noble, Tower Record and so forth.

When holidays or special occasion came around, such as bring forths Day, Graduation Day, Flooz and its partner stores would hold special events for users to consume more. For example, as users accumulated enough Flooz attribute, which were given as the promotional gift through consumption (either buy gifts at online stores or purchasing the gift certificate at Flooz.com), they could later redeem the credits for real merchandise at designated online stores.(2) Roberts idea not altogether attracted to venture capitals and raised $35 million from investors, but also had comedy actress, Whoopi Goldberg to endorse and promote Flooz.com on TV commercials. in spite of all the money and endorsement, Flooz.com finally closed down and filed a bankruptcy protection in August... If you want to get a full essay, order it on our website: Ordercustompaper.com

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