Reverse Auctions
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Transcript

  • 1. DYNAMIC PRICING
    THE REVERSE AUCTIONS
  • 2. 1. Research reverse travel auctions' history
    The travel category : most successful reverse auctions via internet website like lastminute.com
    It uses well-known airlines brand, with high value, and significant savings. It is easy to deliver the products (tickets), the article is perishable and there is over supply
  • 3. 2. Profile how they work, in general
    A. Company select a generic category like a week end in New York
    B. the generic category is negotiated with suppliers who would be interested in selling to website customers (ex : Priceline's customers)
    C. the website makes some restrictions on product and buyers to give more flexibility to the suppliers
  • 4. 3. Choose a reverse auction site - profile the types of hotels you found on the site
    I choose www.priceline.com
    You have hotel in US, Canada, Europe, Caribbean, Mexico, Asia
    You have a huge choice in Hotel Brand like Marriott, Crowne plaza from 1 to 5 stars hotels.
  • 5. 4. Research sites that give customers advice on using reverse auctions
  • 6. 5. List the key points
    Business
    Bids
    Marketing
    Reverse auctions
    Lowest price
  • 7. 6. Conclusion - how can a hotel best participate in a reverse auction site, if at all.
    With a good marketing approach
    With a good knowledge of how the reverse auction works
    By fishing plenty of bids to create a real financial gains
  • 8. Webography
    http://www.managingchange.com/dynamic/auctions.htm
    http://www.helium.com/items/1652331-what-is-a-reverse-auction-and-the-pros-and-cons-of-hosting-or-entering-online