Frequently Asked Questions
It's a revolutionary way of shopping on the Internet.
You're going to have some questions.
Here are some answers.
The Business Model
Why would any company want to participate?
Retailers and wholesalers do not like to cut their profit margins, but they won't have much of a choice. The first two companies competing to sell their products via YourBestPrice.biz will monopolize the market. Others will have to participate to survive. Profit margins will fall, but that is the essence of the capitalist system and the modern business model.
How do you monetize the web site service?
YourBestPrice.biz can generate revenues via buyer and/or seller subscriptions, buyer and/or seller transaction fees, merchant account transaction fees, or on-site advertising.
How can companies across the United States and around the world compete with local retailers?
Countries and states have different taxation rates, import and export duties, labor and overhead expenditures, transportation and delivery options, shipping and handling fees and expenses. If Wal Mart and/or China can deliver the same identical product to your door step at the lowest possible price, they win and customers win.
Shouldn't people buy locally and support community commerce?
Very few products are manufactured locally anymore. We live in a global economy - we shop from a global marketplace. YourBestPrice.biz is an international online shopping mall.
How does a company sell on YourBestPrice.biz?
What products can be sold?
What products can be sold?
Any product sold online or in a brick and mortar retail or wholesale outlet can be sold via YourBestPrice.biz. All listings must be for identical products sold with the same basic features and accessories. No bells and whistles, no buyer protection plans (original manufacturer policies, guarantees and warranties remain in force at all times), and no handling and shipping charge mark-ups.
Won't various sales taxes affect pricing?
They may at the point of origin - but they are not a factor at YourBestPrice.biz. If a company wants to sell a product and their sale price must include a regional or national tax, they'll have to cut their margins elsewhere - or choose not to sell it via the YourBestPrice.biz web site.
Won't it cost more to ship across the country or from foreign countries?
Shipping and handling costs will vary, but this is less of a factor than it used to be. Depending on the weight and size of a product, transportation and delivery costs are not necessarily a determining factor in the final price of purchasing and receiving delivery of an item for sale.
How will companies calculate shipping?
Member data will include shipping addresses and Zip codes. When a customer places an order for sale price bidding, a company will have access to that information and will use it to determine standardized shipping costs, which will help determine how low they are willing to drop their price to make the sale. Local companies will have an advantage with somewhat lower shipping and handling expenses - larger and more distant companies may have lower overhead and operating costs along with slimmer profit margins and quantity pricing.
Won't shipping charges and delivery dates vary depending upon distance?
All shipping must be done through standardized carriers and systems. Our goal is to eliminate price-point variances that often make shopping so confusing and pricing comparisons so difficult. Prices offered through YourBestPrice.biz must include delivery to your doorstep via (for example) standard UPS ground shipping. A company shipping from Japan is at a disadvantage in this regard, and would be allowed to take a couple more days to deliver a purchase, but it's price for sale must include basic delivery. Most customers are willing to wait a few days to receive their purchase, as long as they know they paid the lowest possible price. Customers may have the option to expedite delivery after the sale is completed, but basic standardized delivery is always included and complete.
Consumer Participation
How do customers shop on YourBestPrice.biz?
People must register and become members to shop on the network. Their registration includes personal and financial information and an agreement to buy what they shop for on YourBestPrice.biz. Much like participating on eBay, if they submit a request for a product, they are making a legal and binding agreement to buy an item they search for. If companies are willing to offer a competitive price, they must be assured that a customer is willing to commit to purchasing it.
Can consumers explore and window shop on YourBestPrice.biz?
No. They should browse the Internet and compare prices throughout the web at their leisure, and we encourage them to do so. Research your wish list and compare features, accessories, warranties, and brand names until you decide specifically what you want to buy. Then come to YourBestPrice.biz and buy it - at the best price available anywhere on the net.
How can customers be sure they are getting the best price?
Participating companies know that when someone submits a product and price request at YourBestPrice.biz they have a customer who is prequalified to purchase that item and the sale is guaranteed and completed in five minutes or less. There is no overhead, no negotiating, no hassle, no delays and no problems. They have every reason to cut their prices to the bone, and the company with the lowest overhead and markup that is willing to accept the lowest profit margin, will win your business.
How does the bidding process and sale happen so quickly?
Companies offering products for sale will have their own unique software algorithms they will design and use to calculate pre-determined acceptable profit margins, shipping and handling expenses, and price points. Marketing costs are low because of this automation. Bidding iterations may be set at one dollar or even twenty-five cents, but since the bidding is done digitally, the entire process might actually take much less than five minutes.
During the bidding process, participating companies will receive real time feedback on prices being offered by their competitors and their in-house computing systems will use that information to determine their next bid, down to their own self-determined limit.
How can a company survive with such low profit margins?
Auction web sites such as eBay sell many products below cost and then make their profit on shipping and handling charges. YourBestPrice.biz does just the opposite - all shipping and handling costs and every aspect of pricing, markup and profits are included in one total price - and companies must competitively bid lower sale prices to get your business. Increased sales compensates for lower profit margins.
How do consumers find products on YourBestPrice.biz?
A network inventory will have to be built and maintained which customers may access to learn if a product they are interested in purchasing is available through the web site service. If a product is in the network and two or more companies are offering it, a specific identification number, product identifier or SKU code will be used to submit for a competitive price and a lowest price purchase.
How will customers know they can trust companies to deliver quality products at lower prices?
Much like eBay and other online commerce sites and services, companies selling products via YourBestPrice.biz will have access to customer reviews and merchant ratings systems. Purchases will be made using standard online payment processing and merchant accounts, which also offer their own protections, verification and charge-back options. Products offered for sale will be new, available through many existing retail and wholesale outlets, and not used, refurbished or one-of-a-kind items.