Fusebox EPFL

GroupPricing! Let's decide how much we pay.

by
Yumeng Hou
Yumeng Hou | Nov 22, 2015 | in IT & e-Business Strategy 2015

Basically, my idea is to explore the possibility to establish an intermediate platform where users are allowed to reserve an offering with their own ideal price (pricing period). Then, as long as the participants' average price meets the minimum threshold set by the seller, the deal is valid and offered to all who reserved at the average price.

edited on Nov 22, 2015 by Yumeng Hou

Mateo Dugand Nov 28, 2015

I love the idea! But how honest will be customers regarding this policy? Is there a hint about "what is the threshold" on the offer?

Thank you Yumeng,

Mateo

Yumeng Hou Nov 28, 2015

Thanks Mateo!

In one hand, I don't want to give the customers a hint on the threshold cause it could be too "in control" due to the influence of anchoring and framing in their decision making. But on the other hand, without a hint, customers may go far beyond control and feel a sense of non-security. So we really need to find a strategy to strike a balance in between.

I've not got a good solution yet.

If you have any suggestion, please don't hesitate to tell me.

Thanks again!

 

Best,

Yumeng

Prisca Morand Nov 28, 2015

I like the idea, but if the average price has to reach the threshold anyway, wouldn't it be simpler to set the price at the threshold and sell the product when a minimum number of people decided to reserve it?

Yumeng Hou Nov 28, 2015

Yes, your idea works well. There are already some group-buying websites working well in this way. They offer one or several pricy products and services each day, calling for a minimum number of customers to reserve.

But I want to try something different, the point is to let customers do pricing, and reserve. So they  feel in the way like "we are buying sth with my expected price".

Ah, just inspired by your question. Maybe it's better to keep the reservers informed of the current average price and give them freedom to "withdraw" within a reasonable period. So they won't feel like "I'm betting"

 

Thanks!!

Prisca Morand Nov 28, 2015

Ok, thank you for your answer. I better understand your idea now.

View all replies (2)