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Overview
bzHUB.com is a platform equipped with relevant facilities for those who wants to trade locally and/or expand their businesses to the international market. Instead of utilizing conventional auction style bidding like most auction websites, bzHUB utilized a more dynamic method that mimicked the real world, freestyle, Live negotiation style.. (more coverage here)
Live Online Negotiation (L.O.N.)
The preliminary idea was first contrived back in November 11, 1995, by the early founders of bzHUB.com, who coined the word L.O.N. The original idea was to stimulate the merging of consumers’ buying powers to form a synergistic economic power. The early founders of bzHUB.com knows the only way to achieve that is to enable a speedy mutual agreement in a deal between Sellers and Buyers. The only way to achieve that is through a smooth negotiation between the two. Preferably done LIVE and Internet provide the perfect venue for that to happen globally. Hence the term Live Online Negotiation or L.O.N.
Through bzHUB.com, is where both ends of economic power convene – between the Buyers and Sellers. At this point, time is the only luxury none of them can afford. So rather than waiting for the public to bid for a higher price, L.O.N method enable sellers to control how they want to price their product and the Buyers to decide immediately whether they want to accept or counter-offer, therefore minimizing unnecessary waiting time. The following further illustrates the comparison between LON and Conventional Auction:-
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Conventional Auction
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Live Negotiation
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| Seller set the price of their item at the lowest and hope it will go up. |
Seller set the price of their item based on market demand & supply situation |
| Interested buyers have to bid a higher price if they want to get it |
Seller can get the updated Demand & Supply situation from the bzHUB market information prior deciding on their pricing. |
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Interested buyer who wants to get the item has to employ shrewd negotiation strategies to get what they want at the best deal. |
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Conventional Auction
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Live Negotiation
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Pros
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Cons
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Pros
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Cons
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| Sellers get to sell at a price higher than their original price |
Seller have to wait for quite sometime before their item is sold |
Negotiation method, unlike auctioning is a more straight forward approach. No waiting for higher price is necessary. - Just good old bargaining till you get what you want. |
Because of the freestyle nature of negotiation, the deal can go either way depending on individual skills in strategizing and influencing. |
| Buyer will get a chance to buy the item at a considerably good deal |
Buyer may felt disappointed AFTER they successfully bid for the item and it doesn’t turnout as expected or felt they’ve been “Ripped” off |
Chances of both Sellers & Buyers getting the best deal will be high. |
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Both parties can have a say in how the deal goes. Therefore both parties can close the deal in a more satisfactory manner. |
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Clearly the “LON” method is superior compared to auctioning. In the offline world, most trading are done Negotiation style and not via auction. This is because auction works best for rare or specialty items where it has a niche market demand.
Auction are also suitable for people who want to sell their used items and wanted to see if it can be sold off at the highest possible price.
In short, auction works best for items where the cost are vague to even the seller themselves, ie., antiques, handicrafts, art, collectors items, etc where estimating its cost requires expertise and specialization. For items with known cost, sellers may not have the patience to go through a conventional auction method.
LON method on the other hand works for items with or without known cost.
Items Without Known Cost
Sellers need to determine the selling price themselves rather than leaving it to the public to determine it for them like in conventional auction.
Through bzHUB, sellers can observe and analyze the demand pattern for their item and re-evaluate their pricing strategy accordingly. In short LON method is a more dynamic way to trade compared to auction.
Why Trade Online ?
Internet is truly the “Borderless World” that our ancestors had dreamt of. Through internet, you can open your business to the world 24-7, 365 days year in year out ! That’s a very big pool of potential customers isn’t it ?
Why bzHUB?
There may be many Live Negotiation websites in the internet in the coming 5 to 10 years but how do they differ from each other? Which to choose ? The following are factors that users need to consider before deciding which Live Negotiation website to use:-
- Is it secure ? ie., incorporated SSL license?
- Was some sort of mechanism incorporated into the website to ensure such malpractices are kept at the most minimum?
- When there are dispute among buyer & seller, are there any facilities provided by the website to assist in resolving the dispute?
- How about their Customer Service efficiency?
- How reliable are they ?
In bzHUB.com, we have incorporated mechanism to curb malpractice and also to assist in dispute resolution by being a mediator. bzHUB truly is the first and the safest Live Negotiation portal you can find in the world wide web today. We are infact evolving from time to time to provide an even better service to our members.
So 6 important reasons why you should use bzHUB.com
- You want to tap into the global market conveniently
- You want a website with a safe and secure environment to trade in
- You want to have a good deal but you have limited patience
- You want to buy but you want limited risks.
- You want to know how well demanded your item really is
- Most importantly bzHUB.com ensure a more focused interactive bargaining process
Our Mission
bzHUB mission is to make online trading as smooth as possible by bringing a sense of control over the business deal. We do that by giving an equal opportunity for both buyers and sellers to bargain/negotiate and conclude their deal timely. If you are looking for a speedier way to buy or sell things online and you want to have a say in how you want the deal to conclude, then bzHUB is what you are looking for.
Our Vision
bzHUB aims to take online shopping to the next level, where no one has been before, by bringing forth the exciting experience of shopping malls into the comfort of your home. Most importantly, we want to create a place where people can get the best deal in a safe and secure trading environment. In short, to be the safest, real time Interactive Global Super Hub in the world wide web.
Contact Us
Should you have any General enquiries/ Commercial / Technical Issues - Please click here and we will try our very best to answer your queries.
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