The Name-Your -Own-Price "C2B Model Enables consumers to achieve significant savings by naming their own price for goods and services Same concept as c2B reverse auction in which vendors bid on a job by submitting offers and the lowest priced vendor or the one that meets the buyers requirements gets the job Electronic Commerc Prentice Hall 2006Electronic Commerce Prentice Hall © 2006 17 The “Name-Your-Own-Price” C2B Model • Enables consumers to achieve significant savings by naming their own price for goods and services • Same concept as C2B reverse auction, in which vendors bid on a job by submitting offers and the lowest priced vendor or the one that meets the buyer’s requirements gets the job