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Reverse Auctions

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Reverse Auctions

  1. 1. REVERSE AUCTIONS
  2. 2. Research reverse travel auctions' history Reverse auctions is when the role of the buyers and the sellers are reversed. The history of reverse auctions gained popularity in the late 1990s. It is the moment of the emergence of Internet-based online auction tools. Pioneer of online reverse auctions, FreeMarkets, was founded in 1995 by former McKinsey.
  3. 3. Profile how they work, in general -The buyers propose the price is ready to pay. -The sellers just say to him if they agree or not.
  4. 4. Choose a reverse auction site - profile the types of hotels you found on the site <ul><li>I decided to take the web site: </li></ul><ul><li>http://www.priceline.com </li></ul><ul><li>On this web site, you can find all kind of hotels. All categories. </li></ul><ul><li>You also have operation where you have to make an offer but you don’t know your hotel categorie before you pay. </li></ul>
  5. 5. Research sites that give customers advice on using reverse auctions <ul><li>For having advices on reverse auctions techniques, you can go on: </li></ul><ul><li>www.oltiby.com/ </li></ul><ul><li>http://en.wikipedia.org/wiki/Reverse_auction </li></ul><ul><li>These both web site will give you many advices on it, how to bet, what are the main mistakes…. </li></ul>
  6. 6. List the key points <ul><li>allowing the Buyer to choose the best deal </li></ul><ul><li>obtaining Prices for Services or Products </li></ul><ul><li>Rating System </li></ul><ul><li>Commissions Plugin, Pay-per-Contact Plugin, Pay-per-Bid Plugin </li></ul><ul><li>including file attachement and images </li></ul><ul><li>support for various types of auctions like public, private, choose winner </li></ul><ul><li>eMail Notifications on major events </li></ul><ul><li>Watchlist for sellers on Categories and Auctions </li></ul><ul><li>pay for listing or featured Auctions </li></ul><ul><li>TAGS </li></ul><ul><li>CB Integration </li></ul><ul><li>and many more... </li></ul><ul><li>http://www.thefactory.ro/shop/joomla-components/reverse-auction-factory.html </li></ul>
  7. 7. Conclusion - how can a hotel best participate in a reverse auction site, if at all. <ul><li>If a hotel want to go on this segment, it has to determinate some main points before. </li></ul><ul><li>As a price strategy : The lowest price, it won’t go down. </li></ul><ul><li>A time strategy: Price won’t be the same during all the year. </li></ul><ul><li>And it needs to study the amount of these concurrent will do for attracting some concurrent. </li></ul><ul><li>I think this strategy is quite the same that the yield strategy and maybe this service could work on it also in a big hotel. </li></ul><ul><li>Maybe an big hotel can try during couple months this strategy and changed it, if it realize its results are not good enough compare the N-1. </li></ul>

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