reverse auction
TRANSCRIPT
•An auction is a process of buying and selling goods or services by offering them up for bid, taking bids, and then selling the item to the highest bidder.
•A reverse auction is a type of auction in which the roles of buyers and sellers are reversed.
•In a reverse auction, sellers compete to obtain business, and prices typically decrease over time.
Reverse Auctions
• Reverse auctions are most commonly used to sell airplane tickets and hotel rooms.
• Reverse auctions enable marketers with perishable excess inventory to sell at an unpublished discount.
• The reverse auction generally earns the difference between the price paid by the customer and the price charged by the supplier or a percentage of the sale.
Reverse Auctions
• They provides: Trains, packages, hotels, cars rentals
•Name your price
•The traveler don’t have any description of the hotel they booked
Site: www.priceline.com
•They offer a wide range of hotels from 2 stars to 5 stars hotels
•Hotels in famous cities
•Big hotel chains
Partner’s hotels
• http://www.bidontravel.com/hotels.html
• http://www.free-pressrelease.com/news/200903/1236321429.html
• www.reverauction.com
Partner’s hotels
• Look for the best deal on travel websites
• Look for the latest information and tips about the reverse auction
A good reverse auction
How can a hotel best participate in a reverse auction site?
• Chose the most reliable reverse auction website
• Avoid affecting the image of the brand
• Are the competitors using the same strategy for distressed inventory
Conclusion