From Project VRM
Jump to navigation Jump to search

The Economy

The economic goal of VRM is to improve relationships between Demand and Supply by providing new and better ways for the former to engage with and drive the latter.

This is not possible when all the tools of engagement are provided by suppliers, and all those tools are different. For example, most customers today carry around up to dozens of "loyalty" cards and key-ring tags, each with its own vendor-provided means for controlling interactions and providing benefits. These inconvenience both buyers and sellers, and limit the intelligence that can be gathered and put to use by either party.

What if buyers had the ability to advertise their shopping lists to the sellers with which they have relationships? What if buyers were able to establish and maintain loyalty on their own terms and in their own ways? What if customers' ability to express preferences and advertise demand were improved to the point where sellers could reduce money wasted on advertising and other forms of guesswork? What if it were quick and easy for customers to say what they'll pay for what they want, on their own terms (and to pay on the spot, if the terms are mutually agreeable) ? VRM tools and services will answer these and many other questions that could not be asked before the Internet and came along — and cannot be asked, as long as sellers continue to hold all the relationship cards.