Name Your Own Price
Earlier this week, I came across a fantastic concept that was used in Pricing by priceline group- Name Your Own Price (NYOP). This is a type of reverse auction, where the service beneficiary quotes his best offered price which is auctioned to service provider- who then decides whether to have a handshake or not- simple, nothing revolutionary but definitely full of potential. India is currently booming with app-based startup which are based on buyer-seller model. Be it Aggregators, E-comm sites or be it Hyperlocalization services Most importantly in travel related startups based on vendor-buyer platforms, do you think NYOP can be used as a game-changer in such cases? Let me know your views.