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Reverse Auction Site

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  • 1. REVERSE AUCTION SITES
  • 2. 1. Travel auctions' history
    Reverse Auctions
    Following on from the success of normal auction web sites, it is not
    surprising that attention soon turned to reverse auctions where
    buyers name their price and invite suppliers to bid for their customer.
    Travel Most Successful
    The travel category has been the most successful reverse auction
    items, as it is for normal internet sites like LastMinute.com. The
    product is a commodity, uses well known brands (airlines or major
    holiday companies), is of high value with the potential for significant
    savings, it is easy to deliver the goods (the tickets), the item is
    perishable and there is over supply.
  • 3. 2. How do they work?
    A company selects generic categories such as a stay. It then negotiates with a number of suppliers who would be interested in selling to customers at a very low price.
    To give supplier flexibility, the company usually has restrictions on buyers or the product. For example, with travel tickets it does not allow users to use frequent flyer programes, select a preferred airline, or receive refunds.
    Then, customers select their criteria for what they want (travel, hotel, etc) and companies check if the price proposed corresponds to the products they offer.
  • 4. 3. Priceline.com - types of hotels you found on the site
    Priceline proposes a large range of hotels, from the * to the ***** hotel.
    Hotelscanalsobeselectedaccording to their brand or name
    Pricelineboth proposes famoushotels brands and lessknownhotels brands.
  • 5. 4. Sites that give customers advice on using reverse auctions
    DynamicPricingexplainscustomerswhatis a reverse auction and how do reverse auction sites work.
    (http://www.managingchange.com/dynamic/auctions.htm)
    Epiqexplainswhat are the interests for bothbuyers and sellers to use reverse auction
    (http://www.epiqtech.com/reverse_auctions.htm)
  • 6. 5. List the key points
    Customers createonly a projectdescription
    Buyers have to compare the bid and what they include
    Buyers can communicate with bidders so that they can refine their bids or offer clarifications
    Price may be an important factor in the decision but other elements, such as added services, must also be taken into consideration
    Buyers need to be cautious and read the proverbial fine print involved in the bids
  • 7. 6. Conclusion
    If a hotel wants to best participate in a reverse auction, it has to adapt its services to customers’ expectations.
    It also has to negotiate lower prices as possible with suppliers.
    It has to keep in mind that it is better to sell a service for a low price than to not sell it at all.
    All hotels have equal access to buyer’s invitation to tender.
  • 8. THE END
    Thankyou for your attention