System for utilizing redemption information

• US 10,235,702 B2
• Filed: 09/15/2012
• Issued: 03/19/2019
• Est. Priority Date: 02/24/2000
• Status: Expired due to Term

• Current Assignee: Groupon Incorporated
• Original Assignee: Groupon Incorporated
• Inventors: Walker, Jay S., Suarez, Jose A., Case, T. Scott, Kobayashi, Michiko, Golden, Andrew P.
• Primary Examiner(s): Brown, Luis A
• Application Number:
  US13/620,726
• Publication Number:
  US 20130211961A1
• Time in Patent Office: 2,376 Days
• Field of Search: 705 1449, 705 1457, 705 1458, 705 1471
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0235 constrained by time limit or expiration date
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0613 Third-party assisted

Abstract

A system to determine offers and/or to determine the acceptability of offers based on received information relating to product redemption at a third party. According to one embodiment, the system includes arrangement for a customer to redeem a product from a third party, reception of information relating to a redemption of the product by the customer, reception of an offer to purchase a product for an offer price, determination to accept the offer based on the received information relating to the redemption, determination of an assigned third party at which the offer product may be redeemed based on the received information, and transmission of an acceptance of the offer and an indication of the assigned third party.

Claims

1. A device comprising

a processor and a memory, the memory storing a program that, when executed by the processor, causes the device to:

receive, at a website associated with the device, an offer to purchase a product;

provide, via the website, an acceptance of the offer;

provide, via the website, information indicating a third party at which a customer is to redeem the product;

notify the third party of a redemption identifier provided to the customer allowing the customer to present the redemption identifier to the third party in exchange for the product;

receive, in real-time, redemption information relating to a redemption of the product by the customer, wherein the redemption information indicates a physical location at which the product is redeemed, an associated region, and a retail price of the product;

determine based on the received real-time redemption information, a market share associated with the physical location at which the product was redeemed and a market price for the product, the market share being a percentage of total redemptions, and the market price being dynamic and based on a predetermined number of past retail prices of the product as indicated in the received, in real time, redemption information;

compile a list of electronic profiles associated with a plurality of third parties, each third party being associated with a physical location at which an offer to transmit can be redeemed;

update the list of electronic profiles associated with a plurality of third parties with the market share associated with the physical location at which the product was redeemed and the market price for the product, the plurality of third party electronic profiles which are updated including both those associated with the physical location at which the product was redeemed and those associated located within a same geographic region;

determine a subsequent offer to transmit to a plurality of electronic customer accounts, wherein the determination of the subsequent offer to broadcast to the plurality of electronic customer accounts comprises determining (i) one of the plurality of third parties associated with the list of electronic profiles at which the subsequent offer can be redeemed based on the market share associated with the physical location at which the product was redeemed and (ii) the market price for the product based on the received, in real-time, redemption information, the received, in real time, redemption information being the physical location at which the product is redeemed, the associated region, and the retail price of the product; and

broadcast the subsequent offer to the plurality of electronic customer accounts.

2. The device according to claim 1, wherein the program, when executed by the processor, further causes the device to transmit the offer to a potential customer.

3. The device according to claim 1, wherein the program, when executed by the processor, further causes the device to determine, based on the received redemption information, a price at which a product may be redeemed according to the transmitted offer.

4. The device according to claim 1, wherein the redemption information indicates a product description.

5. The device according to claim 1, wherein the redemption information indicates the identity of the third party.

6. The device according to claim 1, wherein the market share comprises a percentage of a relevant market which is redeemed at the physical location, wherein the relevant market is defined by a category of products and measured by the number of redemptions of the respective category of products, the amount of money spent at the redemptions of the respective category of products, or combinations thereof.

7. The device according to claim 1, wherein determining, based on the received real-time redemption information, the market price for the product comprises averaging retail prices for a plurality of products similar to the product, taking the highest retail price of the products similar to the product, or combinations thereof.

8. The device according to claim 1, wherein choosing one of the plurality of third parties comprises choosing a third party of the plurality of third parties associated with a physical location with the highest market share in the list of electronic profiles at which the offer can be redeemed.

9. A non-transitory computer-readable medium storing a program that, when executed by an apparatus, causes to apparatus to:

receive, at a website associated with the device, an offer to purchase a product;

provide, via the website, an acceptance of the offer;

provide, via the website, information indicating a third party at which a customer is to redeem the product;

notify the third party of a redemption identifier provided to a customer allowing the customer to present the redemption identifier to the third party in exchange for the product;

receive, in real-time, redemption information relating to a redemption of the product by the customer, wherein the redemption information indicates a physical location at which the product is redeemed, an associated region, and a retail price of the product;

determine based on the received real-time redemption information, a market share associated with the physical location at which the product was redeemed and a market price for the product, the market share being a percentage of total redemptions, and the market price being dynamic and based on a predetermined number of past retail prices of the product as indicated in the received, in real time, redemption information;

compile a list of electronic profiles associated with a plurality of third parties, each third party being associated with a physical location at which an offer to transmit can be redeemed;

update the list of electronic profiles associated with a plurality of third parties with the market share associated with the physical location at which the product was redeemed and the market price for the product, the plurality of third party electronic profiles which are updated including both those associated with the physical location at which the product was redeemed and those associated located within a same geographic region;

determine a subsequent offer to transmit to a plurality of electronic customer accounts, wherein the determination of the subsequent offer to broadcast to the plurality of electronic customer accounts comprises determining (i) one of the plurality of third parties associated with the list of electronic profiles at which the subsequent offer can be redeemed based on the market share associated with the physical location at which the product was redeemed and (ii) the market price for the product based on the received, in real-time, redemption information, the received, in real time, redemption information being the physical location at which the product is redeemed, the associated region, and the retail price of the product; and

broadcast the subsequent offer to the plurality of electronic customer accounts.

10. The computer-readable medium according to claim 9, wherein the program, when executed by the processor, further causes the apparatus to transmit the offer to a potential customer.

11. The computer-readable medium according to claim 9, wherein the program, when executed by the processor, further causes the device to determine, based on the received redemption information, a price at which a product may be redeemed according to the transmitted offer.

12. The computer-readable medium according to claim 9, wherein the redemption information indicates a product description.

13. The computer-readable medium according to claim 9, wherein the redemption information indicates the identity of the third party.

14. A method comprising:

receiving, at a website associated with the device, an offer to purchase a product;

providing, via the website, an acceptance of the offer;

providing, via the website, information indicating a third party at which a customer is to redeem the product;

notifying the third party of a redemption identifier provided to a customer allowing the customer to present the redemption identifier to the third party in exchange for the agreement product;

receiving, in real-time, redemption information relating to a redemption of the product by the customer, wherein the redemption information indicates a physical location at which the product is redeemed, an associated region, and a retail price of the product;

determining based on the received real-time redemption information, a market share associated with the physical location at which the product was redeemed and a market price for the product, the market share being a percentage of total redemptions, and the market price being dynamic and based on a predetermined number of past retail prices of the product as indicated in the received, in real time, redemption information;

compiling a list of electronic profiles associated with a plurality of third parties, each third party being associated with a physical location at which an offer to transmit can be redeemed;

updating the list of electronic profiles associated with a plurality of third parties with the market share associated with the physical location at which the product was redeemed and the market price for the product, the plurality of third party electronic profiles which are updated including both those associated with the physical location at which the product was redeemed and those associated located within a same geographic region;

determine a subsequent offer to transmit to a plurality of electronic customer accounts, wherein the determination of the subsequent offer to broadcast to the plurality of electronic customer accounts comprises determining (i) one of the plurality of third parties associated with the list of electronic profiles at which the subsequent offer can be redeemed based on the market share associated with the physical location at which the product was redeemed and (ii) the market price for the product based on the received, in real-time, redemption information, the received, in real time, redemption information being the physical location at which the product is redeemed, the associated region, and the retail price of the product; and

broadcasting the subsequent offer to the plurality of electronic customer accounts.

15. The method according to claim 14, further comprising transmitting the offer to a potential customer.

16. The method according to claim 14, further comprising determining, based on the received redemption information, a price at which a product may be redeemed according to the transmitted offer.

17. The method according to claim 14, wherein the redemption information indicates a product description.

18. The method according to claim 14, wherein the redemption information indicates the identity of the third party.