Question

Buyline is an e-commerce Web site. It has come up with a promotional offer where buyers get a 60 percent discount on refrigerators if a minimum of 100 buyers agree to buy the product within 24 hours of the offer being announced. In this case, it is evident that BuyLine is a _____.

Answer 1

Answer:

Group buying platform

Explanation:

Group buying platform is also known as collective buying and is when the prices of goods and services are significantly reduced on the condition that a minimum number of buyers make purchase.

Usually there is a deal of the day displayed that is activated when the minimum number of buyers has been reached.

In this scenario Buyline has a promotional offer where buyers get a 60 percent discount on refrigerators if a minimum of 100 buyers agree to buy the product within 24 hours of the offer being announced.

This is a group buying platform