Monday, November 12, 2007

Billions in Buyers setting the price

Majority of the businesses we utilize set the price of the good and services. The founder of Priceline.com got the idea of letting the Customers set the price of the services. It allows ordinary individuals to tells the airlines, hotels, car rental companies, and cruises how much they are willing to pay for the service, and these companies compete for the business. Priceline.com is worth billions.

Problem: Businesses set the price of their products and services, the businesses are the boss
Idea/Solution: Customers are the boss + customers set prices
Site: http://www.priceline.com/

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