“Public Market Price Bulletin for LGU Gensan”

A Research Paper Presented to the Faculty of

Stratford International School, General Santos City

Submitted by:

Bundoc, Aliana Jane Decretales

Cuerpo, John Carl

Villaruel, Jemina Pacatan

Submitted to:

Herwin Capiñanes

December 2022
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 Table of Contents

Title Page:…………………………………………...
…………………………...1

Table of
Contents………………………………………………………………..2

List of Figures…………………………………...
……………………………....3

Chapter 1:
Introduction…………………………………………………….….4

1.1 Background of the

Study…………………………………………………....4

1.2 Project
Context…………………………………………………………...…5

1.3 Purpose and

Description……………………………………………………..

1.4 Statement of the

Objectives………………………………………………….

1.5 Conceptual
Framework………………………………………………………

1.6 Scope and Delimitations of the

study…………………………………...……

1.7 Definition of
Terms…………………………………………………………..

Chapter 2: Review Related Literatures and

Works…………………………..

2.1 Review Related Literatures……….

…………………………………………..

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 2.3 Related
Works………………………………………………………………...

Chapter 3: Project Design and Methodology………………..

………………...

3.1 Project Design and

Methodology…………………………………………….

3.2 Purpose of the Study and

Research…………………………………………..

3.3 Requirements
Analysis………………………………………………………

3.4
Requirements…………………………………………………………………

3.5
Documentation……………………………………………………………….

3.5 Design of Software, System, Product, or

Processes…………………………

3.6 Description of the

Prototype…………………………………………………

Reference……………………………………………………………
…………..

List of Figures

Figure 1. Conceptual
Framework………………………………………………

Figure 2. e-
Presyo………………………………………………………………

Figure 3. Marketplace Price

Monitoring……………………………………….

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 Chapter 1

Introduction

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 This chapter presents the context, purpose, objectives, concept for the system, scope

and delimitations, and other introductory details of the study.

1.1 Background of the Study

In ancient times, markets were already in existence. Around 2000 B.C. the

early forms of futures contracts and options contracts appeared. They are legal and financial

tools at the basis of modern commodity markets and are widely used at the present. Futures

contracts are binding forms of binding agreements between two parties that oblige, on the

one hand, the producer to delivery of a precise quantity of the goods, which respect a

minimum quality standard agreed by the parties, when the futures contract ends, and on the

other the buyer to buy the goods to a price determined by the contract. Options contracts are

binding agreements between two parties that give the buyer of the option the right to buy or

sell an asset at a later date at an agreed-upon price (Fontefrancesco 2019). The market price

is used to calculate consumer and economic surplus (Mitchel 2020). There is now

unprecedented public interest in price measurement issues and increased awareness on the

part of academics about the difficult problems in measuring price change in a dynamic

economy.

A significant challenge facing statistical agencies is the problem of adjusting

price and quantity indexes for changes in the availability of commodities (Diewer and

Feenstra 2019). This study aims to develop a solution with the use of technology in

providing, regulating, and monitoring the prices of products in supermarkets. In the era of

the information society, where access to the Internet is common, almost every industry of

the market is undergoing the process of digitization (Hadasik 2022). Price monitoring can

be used for various purposes. But the most important thing is you can quickly understand

changes in prices and promotions, allowing for quick strategy changes.

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1.2 Project Context

One of the underlying problems in supermarkets is the unpredictable changes in the

price of products or inflation in supermarkets. Because of these events both the vendors and

consumers suffer from these sudden changes in prices. Vendors usually have no choice but

to comply with the current price to create a sufficient income for the product. While it

occasionally affects the consumer’s short budgets and emotions towards the changes in

product prices.

Price monitoring is the practice of tracking the prices of goods or services over time

to identify trends or changes. This can be done manually or using specialized software or

tools. The Price Monitoring and Bulletin System will help the consumers know the available

price ranges for the products. The PMBS will also help the vendors and consumers monitor

and evaluate the price they must comply with. The system is an online-based system which

makes it more accessible to consumers and vendors. The prices will appear on the website,

where a bulletin will be presented, and it will list down all the prices and available products

that will inform prices.

The Price Monitoring and Bulletin System will present the following identifiers to

guide the vendors and consumers of General Santos City to determine the prices for a

certain product simply. The inputs that will be provided for the following identifiers are

from the Suggested Retail Price (SRP) of the Department of Trade and Industry (DTI) and

the Department of Agriculture (DA) of General Santos City.

1. Name - will represent the name of the product.

2. Description - will represent the details of the product.

3. Unit Price - will represent the price of the product.

4. Category - will represent the product’s category.

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 The Price Monitoring and Bulletin System (PMBS) will utilize the PHP programming

language while Structured Query Language (SQL) will be used for the database. Other

systems and applications will be utilized for the development of the PMBS.

1.3 Purpose and Description

The Price Monitoring and Bulletin System (PMBS) will be developed with the

purpose to inform and update the citizens of General Santos City and the vendors of Gensan

Public Market about the prices of products. The prices will be presented according to the

Suggested Retail Price (SRP) issued by the Department of Trade and Industry (DTI) and the

Department of Agriculture (DA) for General Santos City. To help regulate the prices of the

products that the vendors will be selling and the products that the consumers will purchase.

The PMBS will help the citizens of General Santos City monitor the prices of the products

in GenSan Public Market. This PMBS will help them know the costs within the issued SRP

from the DTI and DA.

In the Price Monitoring and Bulletin System, consumers or vendors will easily

navigate the items between different categories. This is to make it more appealing for the

users to use the PMBS.

1.4 Statement of the Objectives

The general objective of this study is to develop a Price Monitoring and Bulletin

System (PMBS) that will inform consumers about the prices of products in the supermarket

and it will help both consumers and vendors to monitor the current prices in the supermarket

in General Santos City.

Specifically, the study aims to:

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 1. help the Department of Trade and Industry (DTI) and the

Department of Agriculture (DA) regulate the prices of products in supermarkets in

General Santos City.

2. monitor the prices of products in supermarkets by

complying with Suggested Retail Prices from the DTI and DA for General Santos

City.

3. inform the citizens of General Santos City about the prices of products in

supermarkets.

1.5 Conceptual Framework

The Conceptual Framework shows and indicates the flow of the system and helps

the users understand how it will work.

The Price Monitoring and Bulletin System (PMBS) is a system that will be

designed for monitoring the prices of products in the supermarket. The PMBS can be

accessed on the internet.

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 Figure 1. Conceptual Framework

The inputs will be taken from the Suggested Retail Price (SRP) from the

Department of Trade and Industry DTI and the Department of Agriculture (DA) which the

Price Monitoring and Bulletin System will help to regulate the prices. These inputs taken will

be processed to be updated, inserted, and to be deleted from the system. After the update,

insertions, and deletions are done the user can then save the process to the database. And the

outputs will be shown in the bulletin of the Price Monitoring and Bulletin System on the

internet.

1.6 Scope and Delimitations of the Study

Scope of the Study

The scope of the study focuses more on price monitoring with the products

available in the supermarket. Recent studies and research will be used as a reference for the

development of the system. Also, the system will help regulate the prices of products in the

supermarket of General Santos City. The Price Monitoring and Bulletin System (PMBS)

shall be able to list the prices of items that are available in supermarkets.

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Delimitation of the Study

The delimitation of the study is the regulation of the prices for the products

following the Suggested Retail Price (SRP) Department of Trade and Industry (DTI) of

General Santos City. To conduct this research a letter will be submitted to use the SRP

issued by the Department of Trade and Industry (DTI) and Department of Agriculture (DA).

And a letter to General Santos City Administrator - Public Market Administration to test the

PMBS.

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1.7 Definition of Terms

DA. The Department of Agriculture (DA) is primarily responsible for the planning

formulation, execution, regulation, and monitoring of programs and activities relating to

agriculture, food production, and supply.

Database. A database is an information set up for easy access, management, and updates

Computer databases typically store aggregations of data records or files that contain

information, such as sales transactions, customer data, financials, and product information.

DTI. The Department of Trade and Industry (DTI) is dedicated to protecting consumers'

rights and interests. It is a government agency responsible for establishing policies and

programs intended at supporting the Philippine economy's growth and development.

Inflation. Inflation measures how much more expensive a set of goods and services has

become over a certain period, usually a year. It may be one of the most familiar words in

economics. Inflation has plunged countries into long periods of instability.

PHP (PHP: Hypertext Preprocessor). is a general-purpose scripting language geared

toward web development. It was created by Danish-Canadian programmer Rasmus Lerdorf

in 1993 and released in 1995. The PHP reference implementation is now produced by The

PHP Group.

PMBS (Price Monitoring and Bulletin System). The price monitoring system is a system

for monitoring the price situation and for taking preventive measures when a consumer is

planning to purchase a product and to prevent an undesired shortfall in the availability of

essential commodities. A Bulletin system is a computer or an application dedicated to the

sharing or exchange of messages or other files on a network.

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SRP. The list price, also known as the Manufacturer's Suggested Retail Price (MSRP), the

recommended retail price (RRP), or the Suggested Retail Price (SRP) of a product is the

price at which its manufacturer notionally recommends that a retailer sell the product.

SQL (Structured Query Language). Is a domain-specific language used in programming

and designed for managing data held in a relational database management system

(RDBMS), or for stream processing in a relational data stream management system

(RDSMS).

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 Chapter 2

Review Related Literature and Works

This chapter will present other related literature and related works of this study

from articles and internet resources. And review the literature's significance to the study and

the related work’s similarities and differences to the system.

2.1 Review Related Literature

Price Watch

Cayabyab, Castillio, Castro, and Ramos (2019), developed a mobile application

called “Price Watch: An Online Price Monitoring Mobile Application with Exponential

Smoothing” that enables consumers to instantaneously view the current market data that the

Department of Agriculture (DA) is constantly updating. The consumers can also view

forecasted values that are generated by Exponential Smoothing.

According to Cayabyab, Castillio, Castro, and Ramos (2019), the general objective of

this study is to develop a mobile application that offers online price monitoring and the

different public market price of food. The mobile application will also help consumers to

compare the price of the food and their budget. And it specifically aims to design a mobile

application that allows consumers to see the price of the graph of every Agri product in the

public market and aims to design a mobile application that helps provide an easier general

workflow for forecasting the price in the public market by implementing Exponential

smoothing to allow the consumer to see daily price.

In the conclusion, Cayabyab, Castillio, Castro, and Ramos (2019) explain that the

Exponential Smoothing algorithm provides a way to determine a new value based on the

set of the previous value. Applying the algorithm to the mobile application to check the

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 current and forecasted prices of agricultural products provides an easy way for both

Department of Agriculture and marketgoers to check the prices of produce. Through the

mobile application, retail and prevailing prices are updated for basic and prime commodities

that are monitored by the Department of Agriculture. The client has seen its value,

especially to those consumers that allow them to easily pull-out agricultural product prices,

monitor and check different public market prices of food. Also, it could check the flow and

forecast of the price in the public market by implementing the algorithm. The mobile

application was tested using black-and-white box testing for functionality and efficiency

respectively. Based on the evaluation conducted, the client and the marketgoers gave the

mobile application a highly acceptable rating.

DTI intensifies price monitoring in the market nationwide

The Price Monitoring conducted by the Department of Trade and Industry shows us

how other establishments are taking advantage of consumers. President Rodrigo Roa Duterte

ordered the DTI to take immediate steps to monitor the stores against profiteering and to ease

the consumers' grief. And DTI Sec. Lopez Announced during the flag-raising ceremony, that

the Department of Trade and Industry is reviving up the price monitoring of products and

goods in supermarkets and grocery stores nationwide. The necessities are being monitored by

DTI to avoid the profiteers violating the law and the manufacturer immediately corrects the

pricing and complies with the SRP once their attention is called by the DTI.

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2.2 Related Works

1. e-Presyo

According to the Department of Trade and Industry (DTI) website, e-Presyo is the

Online Price Monitoring System (OPMS) of the DTI where consumers can check the

prevailing prices of necessities and prime commodities that are being monitored by the DTI.

It serves as a price guide for consumers in grocery shopping, ensuring “value for money.”

Figure 2. e-Presyo

Their dashboard presents the reports that are available which are their Prevailing Price

Report, Prevailing Price by Region, Prevailing Price by Municipality, Prevailing Price by

Store, Comparative Report, and SRP Report. According to the Law Insider website, the

prevailing price means the average price at which any basic necessity has been sold in a given

area within a month from the occurrence of any of the conditions.

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2. PriceControl

Figure 3. Marketplace Price Monitoring

They always know for sure which of the merchants of the Marketplace sells the

client's goods. They send information to customers immediately after the discovery of

dumping partners or competitors. They allow their clients to conduct pricing in the context of

each marketplace where clients are represented. They set up an individual schedule for

collecting prices and repricing from each marketplace.

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 Chapter 3

Project Design and Methodology

This chapter will present the design and methods that we will use for the system,

the purpose of the study and research, the requirements for the system, the project’s

documentation, and the description of the prototype of the Price Monitoring and Bulletin

System.

3.1 Project Design and Methodology

This project has undergone prototyping but did not test the prototype.

3.2 Purpose of the Study and Research

Purpose of the Study

The primary purpose of the study for the Price Monitoring and Bulletin System

will be to help guide the development of the system. This study will utilize the inputs to

develop a working online application for the citizens of General Santos City. And it will

also help to guide other researchers

Purpose of the Research

The purpose of the research in Price Monitoring and Bulletin System is to help

find other solutions and knowledge to help implement them for the development of the

system.

3.3 Requirements Analysis

The following is a part of the Requirement Analysis of the capstone

project entitled, “Public Market Price Bulletin for LGU Gensan”.

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3.4 Documentation

3.5 Description of the Prototype

The

Reference:

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Cayabyab, G.T., Castillio, R.E., Castro, P.J.M., and Ramos, W.V.J. (2019, March), Price

Watch: An Online Price Monitoring Mobile Application with Exponential Smoothing for

Agribusiness and Marketing Assistance Service. Conference: the 2019 2nd International

Conference. DOI:10.1145/3322645.3322705.

Department of Agriculture. Citizen’s Charter. Retrieved 16 December 2022, from

https://www.da.gov.ph/citizens-charter/.

Department of Trade and Industry. E-Presyo. Retrieved 04 December 2022, from

https://www.dti.gov.ph/konsyumer/e-presyo/.

Department of Trade and Industry. DTI, e-Presyo, Online Price Monitoring, Your

Gabay, When you Buy. Retrieved December 4, 2022, from https://epresyo.dti.gov.ph/.

Diewert, E. and Feenstra, R. (2019, March 5), Discussion Paper 19-02, Vancouver School

of Economics, University of British Columbia, Vancouver, B.C., Canada, V6T 1L4.

Fontefrancesco M.F. (2019, July 24) Food Commodity Market: History and Impact of Food

Trading Toward SDG2. In: Leal Filho W., Azul A., Brandli L., Özuyar P., Wall T. (eds)

Zero Hunger. Encyclopedia of the UN Sustainable Development Goals. Springer, Cham.

https://doi.org/10.1007/978-3-319-69626-3_13-1.

Hadasik, B. (2022). The influence of ICT instruments on transmission of interest rates by

business entities and public authorities – A scientific comment. Humanities & Social

Sciences Reviews, 10(1), 17-23. https://doi.org/10.18510/hssr.2022.1013

Law Insider. Prevailing Price definition. Retrieved December 10, 2022, from

https://www.lawinsider.com/dictionary/prevailing-price.

PriceControl. Marketplace Price Monitoring. Retrieved December 12, 2022, from

https://pricecontrol.biz/en/marketplace-price-monitoring/#.

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