Name Your Own Price

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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.

Comments

Unknown said…
I think an intro to this will definetly give an enhancement in terms of quality of service and it's innovation which both are the main issues in terms of a customer perspective and in turn will benefit the enterprises .
May 18, 2016 at 6:26 PM
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