The Make an Offer feature is based on the concept of value-based pricing. Vendors and consumers may value a product differently based on many influencing factors, including popularity, availability, geography, weather, time of year, newer models, etc. An example of this might be as simple as an umbrella. In the Northwestern region of the US it is a necessity item because of consistently wet weather versus the Southwest US where dry and arid conditions are more consistent. So the question becomes: What is the item worth in respect to the different necessity among buyers and how do I appeal to all buyers in a way that doesn't result in an unnecessary loss of revenue? Our solution, the Make an Offer feature which allows sellers to maintain a price point within a minimum and maximum price range.
Merchants have traditionally used sales and other promotions on certain items for limited amounts of time in order to attract more buyers. With the Make an Offer feature as part of a seller’s web site, the sale is perpetually negotiated on a per customer basis. The process of finding the optimal price for a seller to part with an item and a buyer to take the item is available anytime with Make an Offer, rather than buyers waiting to purchase during the specified sale time.
The Make an Offer service allows potential buyers to submit an offer to an internet retailer for a particular item, receive an immediate response, and seamlessly checkout using the merchant’s existing shopping cart software. Offers submitted through the Make an Offer feature are accepted or declined based on the seller’s store, category or product-level price thresholds, and contact preferences. What this means for the seller is the ability to be as broad or detailed as you'd like in determining price ranges, manual or automated responses to offers, and effectively developing a sales strategy around the Make an Offer service to reach potential buyers.
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