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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]
The company was founded in 1997. It operates in more than 200 countries and territories around the world and has partnerships with over 400 airlines and 300,000 hotels. Users can search for travel deals and discounts on the website, and in the past also offered the "Name Your Own Price" feature to bid on hotel rooms and flights.
Bandcamp, a web service launched in 2007 where musicians sell their music to fans or can just upload them for streaming, [13] also allows fans to name their own prices when purchasing music and bands are given the option to set minimum prices for their music and buyers can pay as much over the minimum as they choose to. [14]
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 ...
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