Here’s the elevator pitch I have chosen to do for my MBA class. I wrote about the requirements for the pitch, and some initial ideas that I had here.
Overview
SellYourBuyTM is a web portal that brokers between customers and online retailers. It allows customers to purchase products as a group rather than individuals, exercising much larger buyer power than an individual may have, and achieve great savings.
The purchasing mechanism in SellYourBuyTM has two distinct steps:
- Customer registration and grouping by products step:
- New customer registers it’s interest in purchasing a specific product, citing the maximum price he is ready to pay for it.
- All customers that are interested in the same product are automatically organized in the same buyers group.
- Each product has purchase deadline, at which the registration for the product is closed, and the next step follows.
- Auctioning off step:
- Group’s commitment to purchase the product is auctioned off by SellYourBuyTM to online retailers. Retailer that proposes the lowest price per product unit, wins the auction, and gets a purchase order from the whole group.
Such a mechanism allows individual customers to receive on average much lower prices, since their purchase is treated as a part of a much larger ‘wholesale’ purchase that is being made by all the customers in the same group.
Online retailers also benefit from the system, since it allows them to sell in large quantities and save on marketing/selling costs.
Target customers – American consumers that purchase online, are price sensitive and are willing to wait in order to get the best price.
Estimated market – US online retail market is estimated as $130 billion as of 2006. Excluding products and services that are cheaper than 100$ (and thus are not likely to benefit greatly from ‘wholesale’ approach) market size is $80 billion.
Value proposition – Innovative shopping experience that allows customers to exercise their buyer power to full extent, and achieve great savings in the process. Online retailers benefit from reduced selling/marketing costs
Revenue model
Broker based revenue model – SellYourBuyTM will charge a small fee from retailers, as a percentage of each sale that went through the web-site.
Broker based revenue model – SellYourBuyTM will charge a small fee from retailers, as a percentage of each sale that went through the web-site.
Advantages over existing solutions
SellYourBuyTM provides an innovative approach to online commerce experience, which renders a competition with similar web-resources a non-issue.
SellYourBuyTM provides an innovative approach to online commerce experience, which renders a competition with similar web-resources a non-issue.
Main risks
- Metcalfe’s law – small initial amount of customers using the web-site undermines its usability. Solution – partnership with a large online players (portals etc.) with a large established community of users.
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I wonder if anything like that has been implemented already somewhere.
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Mark S. is definitely on the right track. If you want to get a professional looking email address, Id recommend buying your name domain name, like or
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If its common it might be difficult to get, however, be creative and you can usually find something.