How pricing works
The Ideorex platform validates NEW products by allowing buyers to set their own price.
For example: Larry visits Ideorex and finds a powerstrip product he really likes. Larry would be willing to pay up to $45 for such a device. So, he commits $45 to the product. Susan is iffy of the idea, so she only commits $15.
Larry and Susan tell their friends about the product.
The more people that commit to a pre- order
The cheaper the product will be
Manufacturers then bid on the product.
Pick me! Pick me!
The manufacturer can produce the powerstrip for $24 with the amount of people already committed. So, everyone that committed to $24 or more gets the powerstrip, plus 10% off for being an early buyer!
Larry gets the powerstrip for cheaper than he was willing to pay!
Everyone under the $24, or that did not pre-order at all, can still buy the powerstrip at $24.
Susan didn't meet the minimum price, so she can now choose if she wants to pay $24 for the product.
CROWDSOURCE PRICING IS