The phrase refers to an offer mechanism where a user is prompted to define the price they are willing to pay for a particular product or service, often accompanied by a promotional discount or incentive. As a hypothetical example, a customer might be presented with the option to suggest a price for a hotel room, potentially lower than the initially advertised rate, with a code applied if the offer is accepted.
This approach to pricing can be beneficial for both the customer and the vendor. It allows consumers to potentially acquire goods or services at a desired price point, while enabling businesses to fill capacity, move inventory, or acquire new customers through flexible pricing strategies. Historically, variations of this pricing model have been implemented across various sectors, including travel, retail, and services, adapting to evolving market conditions and consumer preferences.
