Method and system for forming a list-based value discovery network

• US 20020035536A1
• Filed: 09/12/2001
• Published: 03/21/2002
• Est. Priority Date: 09/18/2000
• Status: Active Grant

• Current Assignee: Knapp Investment Company Limited
• Original Assignee: Icon One, Inc.
• Inventors: Gellman, Peter
• Granted Patent: US 7,624,051 B2
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 30/0633 Lists, e.g. purchase orders, compilation or processing
• CPC Class Codes: G06Q 30/0641 Shopping interfaces
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

Embodiments of the present invention describe a network-based reverse auction system value discovery system including at least four major customers: consumers, and the three sell-side customers bidder/sellers, product manufacturers, and advertisers who are not also product manufacturers. Initially, a shopping list is constructed containing e.g., widely available goods (WAGs). The shopping list is the base of the value discovery network and ads significant value for each of the four key customers. For consumers, the value discovery system is an easy and convenient way to obtain and feel assured that they have obtained the best deal possible, consistent with their own definition of value. For bidder/sellers, the value discovery system offers a chance to sell products effectively, e.g., in a manner that maximizes profits while building consumer relationships one by one. For product manufacturers, the value discovery system offers a buying channel where marketing and trade promotion of brands, categories, and relationships can be nurtured in direct relationships with consumers and their shopping lists, unmediated by the conflicts and inefficiencies of conventional retail channels. For other advertisers, the data-rich value discovery facilitates communication with those who make important household spending decisions, enabling crafted, precise, messages to be delivered to the right audience.

Claims

1. A method for valuing goods comprising:

submitting a potential consumer'"'"'s list containing at least one good to a network-based reverse auction system;

submitting a potential consumer'"'"'s preferences to the network-based reverse auction system;

receiving at least one bid on the list containing the at least one good; and

presenting the at least one bid to the potential consumer.

2. The method according to claim 1, further comprising obtaining a potential consumer'"'"'s list through a network interface.

3. The method according to claim 2, wherein the network interface is selected from the group consisting of a personal computer, a personal digital assistant, a cellular phone, an interactive television, a wireless device, and a network appliance.

4. The method according to claim 1, further comprising presenting a potential consumer with a navigable presentation, wherein the potential consumer reviews information presented in the navigable presentation prior to formulating the potential consumer'"'"'s list.

5. The method according to claim 4, wherein the navigable presentation is a virtual shopping aisle.

6. The method according to claim 1, wherein the potential consumer'"'"'s preferences are selected from the group consisting of product brand preference, delivery time preference, bidder location preference, product availability preference, price range preference, bidder identity preference, item list submission preference.

7. The method according to claim 1, wherein the at least one bid includes a price for the list.

8. The method according to claim 7, wherein the at least one bid further includes at least one incentive.

9. The method according to claim 8, wherein the at least one incentive is selected from the group consisting of a coupon, a free item, loyalty points, and cash-back.

10. The method according to claim 1, wherein submission of the potential consumer'"'"'s list occurs at a predetermined time interval, without any action by the consumer.

11. A network-based reverse auction system comprising:

a network;

a bid engine connected to the network for receiving and retrieving auction information;

at least one database connected to the network and accessible by the bid engine, wherein the at least one database contains auction information about potential customers and potential items; and

a network interface for accessing the bid engine and the at least one database.

12. The system according to claim 11, wherein potential customers are selected from the group consisting of consumers, bidders, item manufacturers, and item advertisers.

13. The system according to claim 12, wherein the auction information includes item lists created by the consumers.

14. The system according to claim 13, wherein the item lists are created through the network interface.

15. The system according to claim 14, wherein the network interface is selected from the group consisting of a personal computer, a personal digital assistant, a cellular phone, an interactive television, a wireless device, and a network appliance.

16. The system according to claim 15, wherein the network interface further includes a scanner for scanning item codes, wherein scanning an item code results in the addition of the item to the consumer'"'"'s item list.

17. The system according to claim 16, wherein the item code is selected from the group consisting of an universal product code (UPC), a stock keeping unit (SKU), and an international standard book number (ISBN).

18. The system according to claim 13, wherein the bid engine includes a processor programmed with decision rules for facilitating the reverse-auction of the item lists.

19. The system according to claim 18, wherein the decision rules include predetermined default brands for non-brand specified items on the item lists.

20. The system according to claim 11, further including an application for displaying a linking icon on the graphical user interface of the network interface such that potential customers are linked to the network-based reverse auction system upon selection of the linking icon.

21. A process for developing a list of items for submission to a reverse auction comprising:

accessing a network-based reverse auction system through a network interface;

establishing a personalized item list in at least one database within the network-based reverse auction system;

populating the personalized item list with at least one selected item;

identifying at least one auction preference to the network-based reverse auction system; and

submitting the personalized item list to the reverse auction.

22. The process according to claim 21, wherein populating the personalized item list with at least one selected item further includes:

searching the network for items;

identifying at least one item through the search; and

entering the at least one item into the personalized item list.

23. The process according to claim 21, wherein populating the personalized item list with at least one selected item further includes:

scanning at least one item code, whereby the item is added to the personalized item list.

24. The process according to claim 21, wherein accessing the network-based reverse auction system through a network interface includes selecting an icon located on a graphical user interface of the network interface.

25. The process according to claim 21, wherein populating the personalized item list with at least one selected item further includes utilizing an icon located on one of an advertisement and an item.

26. The process according to claim 25, wherein the advertisement is located on one of a webpage, an interactive television screen, a newspaper, a magazine, a coupon, a billboard, and a circular.

27. The process according to claim 25, wherein utilizing the icon includes:

obtaining an alphanumeric item identifier that is located within or in proximity to the icon; and

entering the alphanumeric item identifier into the network-based reverse auction system through a keypad of the network interface.

28. The process according to claim 25, wherein utilizing the icon includes scanning a barcode located within or in proximity to the icon.