Everyone likes a good deal. But clipping coupons and waiting for special promotions gets old. Wouldn’t it be nice if you had the option to name your own price for all the goods and services you buy? And not just during ‘special events’ but all the time?
Bonvoy adventure travel is trying to revolutionize the pricing model of the travel industry. Bonvoy is introducing name your own price, a pricing model that gives customers a suggested price and allows them to apply their own discount to fit the trip into their budget.
“Some people really want to get away and have a memorable vacation but sometimes the price gets in the way. We want to give everyone the opportunity to travel with us.”
The biggest question is whether this pricing model will work. Why wouldn’t everyone take the largest discount possible every time? “We think once people travel with us they will appreciate the level of service and the quality of the trip and become lifelong customers. We also have faith in human nature that people are generally honest and willing to pay what they think is a fair price for a good or service. This is the ultimate application of economics. Let the public tell you the value of what you’re selling them.”
The economic collapse has left a lot of people searching for good deals. Daily deal sites like Groupon and LivingSocial have popped up everywhere giving special pricing for restaurants, classes, travel and basically anything else you might purchase. But lately these deal sites have lost their luster. “The market has become over saturated. People feel overwhelmed and swamped with emails advertising deals. Business are also taking significant cuts to their profit margins by discounting their services and then paying a commission to the deal site. We want to shift the pricing model to us, the merchant, and provide permanent low cost options for people that may not always have the means to travel and don’t want to wait for that next “BIG PROMOTIONAL DISCOUNT!”