Retail price and promotion modeling system and method

• US 20020099678A1
• Filed: 01/09/2002
• Published: 07/25/2002
• Est. Priority Date: 01/09/2001
• Status: Abandoned Application

• Current Assignee: Best Buy Enterprise Services Incorporated (Best Buy Co., Inc.)
• Original Assignee: Best Buy Enterprise Services Incorporated (Best Buy Co., Inc.)
• Inventors: Delaney, Flora, Albright, Brian
• Application Number:
  US10/043,543
• Publication Number:
  US 20020099678A1
• Time in Patent Office: Days
• US Class Current: 706/45
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising

Abstract

A management tool coordinates a modeling engine, databank, communication tool and supply chain functions to aid in the selection of an optimal promotion action, to monitor the results of that action, and to communicate those results to appropriate persons using browser-based, navigable web pages.

Claims

1. A marketing decision support system, comprising:

a) means for modeling results of a specified proposed promotion action;

b) means for storing historical sales data;

c) means for facilitating communication between a human user and said support system;

d) means, coupled to said modeling means, to said data storage means and to said communication means, for coordinating data communications amongst said data storage means, said modeling means and said communication means.

5. A marketing decision support system according to claim 1, wherein said communication tool selectively displays:

predicted results of a user-defined what-if scenario;

performance metrics of an implemented marketing strategy; and

predicted trend of an implemented marketing strategy.

6. A marketing decision support system according to claim 5, wherein said communication tool includes a menu of options for a user'"'"'s selection to appear on a browser home page, said menu of options including company-specific items.

2. A marketing decision support system, comprising:

a) a modeling engine for predicting results of a proposed marketing strategy;

b) database linked to the modeling engine to supply the modeling engine with historical data to aid in predicting results of a marketing decision;

c) a communication tool having a graphical user interface allowing a user to define a what-if scenario for modeling by the modeling engine;

c) a management tool linking said communication tool to said modeling engine for data communication therebetween.

3. A marketing decision support system according to claim 2, wherein said communication tool is browser based.

4. A marketing decision support system according to claim 2, further comprising data storage for supply chain data and wherein said management tool draws data from said supply chain data storage and provides said supply chain data to the modeling engine to assist in its analysis of the results of a proposed marketing strategy.

7. A marketing decision support system according to claim 2, wherein said modeling engine can model the effect on sales of a first product as a result of implementing a marketing strategy on a second product.

8. A marketing decision support system according to claim 2, wherein said modeling engine can model the effect of sales on a first product from one retail establishment as a result of implementing a marketing strategy on said first product from a second retail establishment.

9. A marketing decision support system according to claim 2, wherein said modeling engine can model the effect of sales on a first product sold through one sales channel as a result of implementing a marketing strategy on said first product sold through a second sales channel.