A Study On Pricing Strategy Of Crowd-funding Platforms

As one of the three main forms of Internet Finance,the rise of the crowd-funding platform provides a new channel to solve the problem of entrepreneurial financing.Under the market demand government encouragement,crowd-funding industry expand rapidly in our country.Every year there is large number of new platforms being established,the same time,many platforms faced collapse.Price competition strategy is an important issue for the platform.This causes us to think,why the platform only to charge on the successful project sponsors? Why the commission fee remained at a very low level while crowd-funding platforms facing difficulties in profitability? This paper studies the price competition strategy of the platform from the perspective of bilateral market theory in order to explore the price competition strategy suitable for the development of Crowd-funding platform.First,to divide the public to raise the platform type,on the basis of the public sector to raise the relevant market definition,market structure of the various segments of the judge;explore crowd-funding industry chain of each subject in the interests of the relationship between a clear platform to raise public enterprise cost income structure;explore the characteristics of two-sided market raising industry the mining industry to raise the public,and have special properties of higher switching cost,the platform does not exactly match the user transactions.This series of research to build a set of pricing model in line with the public to raise the economic characteristics of the industry laid the foundation.Second,some reasonable simplification based on the industry to raise the public,build a platform for trading commissions charged under duopoly with the cross network externality parameter,users transfer costs,service differentiation,and raise the platform pricing model,reveal the competitive state of the congregation raised platform of enterprises pricing mechanism.Then construct two stage pricing model,demonstrates the users there is a big transfer cost situation,take the current platform to raise public business losses can accumulate users,to maximize profits late,raise industry is an intensive industry development tendency.Third,with the industry in two independent public financing scale similar to raise the platform-named time and dream analysis network pricing strategy as an example,discovery platform in the process of competition and adopt skewed pricing,loss of business,competitive behavior,consistent with theoretical analysis.Research shows that:(1)all the chips industry has a significant oligopoly market structure characteristics,in which the return of the congregation to raise the market to raise the degree of oligopoly than equity based public market segments.In the duopoly market conditions,(2)the platform tends to total network externality is high investors take the price subsidies,while the total network strength low financing charges to maximize revenue platform;(3)effect between the platform and competitors pay great attention to the degree of difference of services platform pricing,platform to enhance the service differentiation in order to enhance the target user's monopoly power;(4)platform to enhance the matching probability of bilateral users successful trading,to achieve the profit level.Congregation raised project financing in a platform to achieve a higher evaluation of investors,the choice of another platform will produce a higher transfer costs,investors are also so.Therefore,in the presence of two large cost transfer pricing model,(5)after a period of platform profit level depends on the previous period of market size,the platform will consider expanding the size of the market in the early stage,improve the transfer cost of the user,to obtain higher profits later.