|Smart Market Protocol is a decentralized market platform. A open infrastructure for cross trade exchange market that optimize pricing of new products before starting its sale, promotion speed and performance.In Smart Market Protocol, in order to define optimal product pricing using a smart contract conforming to the PSM (Price Sensitivity Measurement) of well-known methodology, and to revise the price autonomously according to the "Sales performance based price determination mechanism" is offered.|
|One major feature of Smart Market Protocol is that it is a pricing model devised based on PSM (Price Sensitivity Measurement) within marketing framework. We call this as “smart market study”. Using the PSM service of the marketing company, we will pay the service provider hundreds of dollars to thousands of dollars for the questionnaire survey, but smart market study eliminate the cost of preliminary phase with the power of smart contract.|
|This demonstration shows image of Market Study Functions. Market Study in Smart Market Protocol is based on Price Sensitivity Measurement.PSM is a research method that is often used for ease of analysis when conducting price pricing survey of products. In general, commodity prices are related to the value of goods such as quality and are conscious of consumers, but too high price is not accepted by consumers, there is quality problem if it is extremely low price It may be recognized as a cause of stagnating.Therefore, in accordance with the development of new products, we will investigate the feeling of price of the product by sampling survey to consumers and try the optimum price setting. Since the perception of the price range varies from person to person, we conduct sampling surveys and compare the percentage of people per price range, thereby deriving the most favorable price range, the lowest price, the highest price.In PSM, we ask four questions to survey cooperators and calculate the price range from the result.|
|1. How much is the price that you feel that the item is "too expensive so do not buy"?|
|2. What is the price you feel that this product is "expensive"?|
|3. What is the price you feel that this product is "cheap"?|
|4. What is the price that you feel that this product is "too cheap so that quality can not be trusted"?|
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