Price Setter®’s application can compete with direct mail coupons and printed ads and beat those advertised discounts or prices on the spot. Users can hand enter the value of those coupons or ads in to the application and have active member merchants compete automatically to meet or beat those values instantly without the need to attend or monitor the competition; conventional price comparison websites or mobile applications cannot do that.
- Price Setter®’s registered member merchants can advertise two different prices: one on their own website or physical location and the other, a self-adjusting price, via Price Setter®’s database which can go up and down as needed depending on the prices of the merchants they are being compared against at the time the price competition takes place. Traditional comparison shopping websites and mobile applications list the prices advertised by merchants on their own websites using automated online searches meaning that merchants need to display a very low price on their own website in order for it to be competitive when compared against their competitors side by side. Using Price Setter®’s application merchants can make more money on their own website by displaying their regular prices which users who are not necessarily comparing or shopping around can afford to pay. With the extra money merchants save or make by selling at regular prices, they can afford to set their pricing parameters on Price Setter®’s application to go lower than they normally would using traditional methods. In other words lowest prices on Price Setter®’s application will always be lower than the lowest prices listed on traditional comparison shopping websites and mobile applications.
- Price Setter®’s registered member merchants can save money by not having to advertise prices on comparison shopping websites lower than they need to be to beat the closest competitor. They only need to be lower by a small margin. This way active member merchants of Price Setter®’s application can avoid over cutting their prices unnecessarily. Many times the merchant displaying the lowest price could be inadvertently 10%-30% or more lower than the nearest competitor. By using Price Setter®’s application, that merchant could set a pricing parameter to be a predetermined percentage below the nearest competitor. This lets the merchant save or make considerably more money and again afford to set the pricing parameters to go lower than they normally would on traditional comparison shopping websites and mobile applications if and when needed.
- Price Setter®’s member merchants do not have to constantly monitor the prices of their competition to adjust their own prices; Price Setter®’s application takes care of that.
- Buyers can use Price Setter®’s mobile application as a tool to negotiate prices at local physical locations such as new car dealerships.
- Price Setter®’s member merchants can eliminate the middle men such as brokers (travel agencies) and sales people (new car dealerships) so Price Setter®’s prices for hotels, air tickets, new cars and many others will always be much lower than using conventional comparison methods.
- Every price competition transaction is conducted in real time and results are obtained instantly.
- Buyers do not need to enter any sensitive personal information to request a price.
- Buyers know up front what they are buying. Business rules are set by the system. There is no small print and no false claims or misleading statements. No deceptive advertisement practices are involved.
- Users get to chose who they request a quote from based on distance to their location or ratings. The position of the member merchant search results is random and does not depend on rotation by the system or high bids for the best position.
- If buyers can find a better listed or printed price at another comparison or advertising medium, users can manually enter that value and the URL of that offer in to the competition form page and have active member merchants meet or beat the hand entered value on the spot.
At the present time Price Setter®’s smart phone application has only been published on Google’s Android Market however it is the intention to develop applications to work on other phones such as iPhone, Blackberry, Windows and others, on top of that the application could be licensed or integrated with other websites such as Travel agencies, Insurance companies, stock trading companies, lending institutions, contractor referral websites, utility company comparison sites and even with existing price comparison websites and/or phone applications.