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.
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.
- 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.
Broker based revenue model – SellYourBuyTM will charge a small fee from retailers, as a percentage of each sale that went through the web-site.
SellYourBuyTM provides an innovative approach to online commerce experience, which renders a competition with similar web-resources a non-issue.
- 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.
I wonder if anything like that has been implemented already somewhere.