Survey Routing Platform Dynamic Pricing Grid
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Solution Overview
Problem
Suppliers in the market research industry face revenue loss due to underpaid routed pricing for survey completions, as they lack access to intrinsic value indicators of out-of-network surveys, leading to inefficient respondent routing and revenue misalignment.
Innovation Solution
An online survey platform dynamically correlates the supplier's bid price with intrinsic value indicators such as Length of Interview (LOI), survey conversion value, and incidence value, ensuring that respondents are routed to surveys where the bid price is less than or equal to the buyer's budget, using a routed pricing grid that adjusts prices based on these indicators.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of energy
If suppliers use traditional fixed routed pricing for survey completions, then pricing simplicity is maintained, but revenue loss occurs due to underpayment when intrinsic value indicators are not considered
Solution Approach 1:
The patent applies parameter changes by transitioning from fixed routed pricing to dynamic pricing that adjusts based on intrinsic value indicators (LOI, conversion value, incidence value). The pricing grid incorporates these parameters to determine appropriate bid prices, ensuring suppliers are fairly compensated while maintaining systematic control over the pricing mechanism
Solution Approach 2:
The patent implements feedback by using intrinsic value indicators derived from survey performance data to inform pricing decisions. The system continuously monitors LOI, conversion rates, and incidence values, then feeds this information back into the pricing grid to adjust bid prices, creating a closed-loop system that prevents revenue loss while adapting to changing survey conditions
2Productivity
If respondents are routed to surveys without considering bid price vs. buyer budget alignment, then routing efficiency is maintained, but revenue misalignment occurs leading to underpayment
Solution Approach 1:
The patent applies preliminary action by pre-calculating bid prices using the pricing grid and intrinsic value indicators before respondent routing occurs. The system determines appropriate prices in advance based on survey characteristics and stores them in the pricing grid, enabling rapid routing decisions without compromising price-budget alignment accuracy during the actual routing process
Solution Approach 2:
The patent introduces an intermediary element (the pricing grid with intrinsic value indicators) that mediates between routing efficiency requirements and price-budget alignment needs. This intermediary layer processes and stores pre-computed pricing information, allowing the routing system to operate efficiently while ensuring accurate price-budget matching through the intermediary's stored data
3Loss of information
If suppliers lack access to intrinsic value indicators of out-of-network surveys, then information security is maintained, but inefficient respondent routing occurs causing revenue loss
Solution Approach 1:
The patent uses an intermediary approach by introducing the pricing grid as a controlled interface between suppliers and intrinsic value indicators. Instead of giving suppliers direct access to sensitive survey data, the system processes intrinsic value indicators through the pricing grid mechanism, which transforms raw data into actionable pricing information that suppliers can use for routing decisions without compromising information security
Solution Approach 2:
The patent applies segmentation by separating the intrinsic value indicator calculation function from the supplier routing decision function. The system divides the information flow into segments: intrinsic value indicators are calculated and stored in the pricing grid by the platform, while suppliers access only the processed pricing information needed for routing decisions, maintaining security while enabling efficient routing
Data Source
AI summary
An online survey platform and process for correlating the bid price offered by a supplier for the completion of an out-of-network survey hosted on the survey platform to one or more intrinsic value indicators of the survey. If the supplier's bid price is less than or equal to the survey budget price set by the buyer, then the routing platform of the present invention will route the supplier's respondent(s) to the survey.