The benefits of being a member of Beenz are multiple. Customers enter a unique code on a specific web site and provide personal information. The information is collected for product manufacturer use, resulting in a long-term and profitable relationship. Beenz rewards can be slacknews redeemed for manufacturer products, online stores worldwide, or a MasterCard. As an added benefit, customers can transfer their points to other accounts. Once a member, they can also use their points for future purchases.
Information about Beenz product
The Beenz currency is accepted worldwide. To use it, consumers must visit a website designated by the manufacturer. The consumer enters the code to obtain the product and personal information requested by the manufacturer. The information collected by the manufacturer enables it to build a more lucrative and long-term relationship with the consumer. In exchange for this factival information, the consumer will receive Beenz, a virtual currency that can be used to purchase products and services from the manufacturer. The consumer can also use their Beenz to spend at stores around the world.
The beenz business model makes it possible for the company to generate value through partnerships. As the co-directors of the Wharton e-Business Initiative and INSEAD Professor Christoph Zott argue, the ability to generate value is critical to the ability to create value. Businesses seeking new ways to launch innovative Web-based initiatives should focus on the value drivers of e-commerce seatgurunews business models. In a recent paper, Amit and Zott explored the importance of business models in Web-based initiatives.
Availability of product
Beenz was founded in California in 1998, and operated in the United States, Sweden, France, Germany, Italy, Japan, Australia, China, and Canada. It savetoby had offices in 12 countries and translated its website into many languages. However, after the 2008 financial crisis, the company failed to raise further funding, and its founder, Charles Cohen, left the company. As a result, the company was sold to the Carlson Marketing Group.
Conclusion
The business model of the Beenz currency was based on arbitrage: companies would purchase the virtual points from Beenz at a fixed local exchange rate, and consumers imetapressnews would redeem those beingz for goods and services online. Beenz was issued using a Java Applet, which required users to enter their email address linked to a benz account. The company was able to sell back the unused units to merchants for a predetermined exchange rate.