Reverse Pricing Mode
Reverse Pricing Model refers to a model that allows the consumer to establish his/her requirements and offer those requirements for bid by the seller. Thus rather than the seller marketing a product to the buyer, the reverse occurs. Priceline has pioneered this model in the consumer marketplace, using airline tickets as the product. This model further reflects the changing power in the market from the supplier to the consumer. When this model can be effectively combined with the group buying model one can envision powerful groups of buyers creating interesting demands on companies.