John and Jenny have been saving for two years to take their six children on a vacation to Disneyworld. They are surprised to find out that airline tickets are far more expensive than they had anticipated. They decide to try to find cheaper tickets on Priceline where they are allowed to set the price they are willing to pay for the airline tickets. What form of ebusiness model are John and Jenny using?

a. B2C

b. B2B

c. C2C

d. C2B

The correct answer is d. C2B

Explanation:

It is a business model in which consumers (individuals) create value and commercial companies consume that value. For example, when a consumer writes reviews or when he gives a useful idea for the development of a new product; Then the consumer is creating value for the entrepreneur if the business adopts that idea or input. The concepts of crowd sourcing (tasks performed by a multitude of people) and co-creation are excepted here.

The C2B model, also called reverse auction or demand collection model, enables buyers to name or claim their own price, which is often linked to a particular good or service. The website collects the offers of the demand and then offers those offers to the participating sellers or companies.