Real Bids are purchased through money from bid purchase option on the website. These are the bids,
which can be utilized for “Buy Now option”, and are also eligible for a refund until unused, each bid is
worth $0.5 and purchased through a package.
These are the bids either won / acquired through auction. These bids can also be achieved through other
ways like, successful referrals, playing games, or promoting website code etc. The voucher bids are not
eligible for, refund nor can they be exercised for “Buy Now”. Moreover, unused portion of these bids will
be expired after specified period of time.
Smart Tech will operate through a dynamic website, focused around a continually seamless user
experience with flexible shipping/bidding options on multiple platforms and transparency. A study by
Accenture finds that consumers shopping online want a seamless experience between shopping
platforms, flexible delivery options and convenience to meet their needs.
Participants have to pay a non-refundable fee to place each incremental bid. When bidding time reaches
to zero “0”, the last bidder wins the product, which will be delivered to him within the pre-mentioned
days upon payment of final bid price. Research from fMRI n
Euro-imagery demonstrates that consumers primarily use emotions when evaluating brands, suggesting
that emotions play a role in purchasing decisions. The countdown of time from the bidding auction may
create a sense of urgency and missed opportunity if the bid is not placed within the designated time
The company will generate cash inflow by the receipts from bid packages, and the receipt of bid price
against winning item. By uniting in depth knowledge of auction industry with vitality and reach of Internet,
platform will offer comprehensive E-Commerce solutions to the buyers and distributers of electronic
items through a drop shipping model. Drop shipping is a supply chain strategy for Smart Tech to reduce
overhead and achieve a cost leadership position by having established relationships with retailers to ship
stock as they are sold directly to end consumers through Smart Tech.
The items will be offered to members on considerable discount so they can directly buy from the company
if they like. The company will eliminate the geographical distance and a person can be a member from
anywhere in the world. However, the business will focus on region with higher Internet penetration rates.
The regions include North America, Oceana/Australia and Europe with adoption rates greater than 50%.
The global Internet reach is continuing to grow at a rapid pace. The worldwide base of broadband Internet
users is currently in the 2 billion range, as of 2013 and consumers and increasingly trying to maximize
utility with budgets coming out of the recent recession.
In the recent years the e-commerce industry offered several advantages compared to the real world,
including more convenience and higher levels of efficiency. This contributed in increasing the number of
online shoppers. Out of 79% Internet users in America 66% tend to buy from electronic retailers, a