The phrase refers to a proposal mechanism the place a consumer is prompted to outline the worth they’re prepared to pay for a specific services or products, usually accompanied by a promotional low cost or incentive. As a hypothetical instance, a buyer may be offered with the choice to counsel a value for a lodge room, doubtlessly decrease than the initially marketed price, with a code utilized if the provide is accepted.
This strategy to pricing might be helpful for each the shopper and the seller. It permits customers to doubtlessly purchase items or providers at a desired value level, whereas enabling companies to fill capability, transfer stock, or purchase new prospects by way of versatile pricing methods. Traditionally, variations of this pricing mannequin have been carried out throughout varied sectors, together with journey, retail, and providers, adapting to evolving market situations and client preferences.
