Price
Prevent arbitrary changing “exchange rate”: Based on the comment we collected, many users complained about the changing clouts price. Since we want to eliminate such negative image, once we determine the “exchange rate” of the clouts, we are not allowed to change the “exchange rate” and will make a clear promise to our customers.
The principle of setting the premium price of extra store is the price cannot greater than the weighted average WTP of the consumers. The weight coefficient of different group of consumers can be the same as the purchasing power of different group of consumers. That is to say, the more you purchase the more weight coefficient you have. As for the WTP data of different group of consumers can be collected by conducting a survey. As long as we have these data, we can estimate the weighted average WTP and determine a proper price for the license.
Promotion
In the buyer side, user-user promotion plays an important role given the conspicuous positive network effect. On the basis of user's comments, recommended by friends is a main reason why our users install our application. We can increase the clouts gained by each valid recommendation so that our existing users are more motivated to recommend this app to their friends.
Another important promotion is that users can use clouts to obtain goods at prices lower than the listed prices. This is still very important for most Gen Z who make little money and rely on pocket money from their parents.
After a period of preparation, we plan to release our seller platform about a year later.
Product
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