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Name your own price (NYOP) is a pricing strategy [1] under which buyers make a suggestion for a product’s price (unlike the traditional way where sellers quote a certain price) and the transaction occurs only if a seller accepts this quoted price. [2]
Some sites have similar characteristics of an intention economy. For example, flight booking services Priceline.com, which let users name their price for an airline ticket still functions like a "silo." In an intention economy a site like Priceline might serve as an intermediary with the airline coordinating new flight dates and times that ...
Priceline.com experimented with selling gasoline and groceries under the Name Your Own Price model in 2000, at the height of the dot-com bubble, through a partially owned affiliate, WebHouse Club. Priceline got into the online auction business with Priceline Yard Sales , where individuals would use the Priceline system to haggle for various ...
Wouldn't it be great if you could go to a restaurant and decide what you want to pay for your meal? One restaurant owner in North Carolina is allowing customers to do just that. Dana Parris, 52 ...
Priceline.com says you can trust its Name Your Own Price bidding service to deliver the lowest price you'll get for upscale hotel rooms. And to prove that, it's putting its money where its mouth
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The growth of low-cost carriers offering restriction-free pricing, "name your own price" channels, and auctions all stimulated this interest in applying science to the pricing side of the business. As the applications of scientific methods to these business problems expanded, the discipline of pricing science became more rigorous and ...
The online travel portal is famous for its name-your-own-price service but, this year, it seems like shareholders were the ones who got to pick their stock price, as the company posted amazing ...