System and method for buying and selling merchandise

• US 20030023500A1
• Filed: 07/30/2001
• Published: 01/30/2003
• Est. Priority Date: 07/30/2001
• Status: Abandoned Application

• Current Assignee: International Business Machines Corporation
• Original Assignee: International Business Machines Corporation
• Inventors: Greene, David P., Yu, Philip Shi-Lung, Grey, William, Moskowitz, Paul Andrew, Boies, Stephen J., Dinkin, Samuel H.
• Application Number:
  US09/916,679
• Publication Number:
  US 20030023500A1
• Time in Patent Office: Days
• US Class Current: 705/26
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0613 Third-party assisted
• CPC Class Codes: G06Q 30/0625 Directed, with specific intent or strategy
• CPC Class Codes: G06Q 30/0641 Shopping interfaces

Abstract

A system for buying and selling merchandise includes a network having a plurality of user terminals, a memory device for storing a predetermined event for the merchandise, and at least one processor, accessible by the plurality of user terminals, for automatically adjusting a price of the merchandise based on the predetermined event, and matching buyers with the merchandise to facilitate a transaction.

Claims

1. A system for buying and selling merchandise, comprising:

a network comprising a plurality of user terminals;

a memory device for storing a predetermined event for said merchandise; and

at least one processor, accessible by said plurality of user terminals, for automatically adjusting a price of said merchandise based on said predetermined event, and matching buyers with said merchandise to facilitate a transaction.

2. The system according to claim 1, wherein said merchandise comprises time-sensitive merchandise.

3. The system according to claim 2, wherein said predetermined event comprises a decrease of an expiration period.

4. The system according to claim 1, wherein said network comprises a central server accessible by said plurality of user terminals for storing transaction data.

5. The system according to claim 1, wherein each of said user terminals comprises:

a processor;

a memory device accessible by said processor for storing data;

a video display for displaying an image representing said data; and

an input device.

6. The system according to claim 1. wherein said network comprises an internet-based network.

7. The system according to claim 1. wherein said at least one processor is remote from said plurality of user terminals.

8. The system according to claim 1. wherein said at least one processor comprises a plurality of processors.

9. The system according to claim 3 wherein said price is automatically reduced as said expiration period gets closer to expiring.

10. The system according to claim 3. wherein said price is automatically adjusted at a predetermined interval.

11. The system according to claim 3. wherein said system identifies an expiration date for a particular merchandise and calculates a quantity of an order to be purchased on a particular date based on a consumption rate for said merchandise so as to minimize a total price for said order.

12. The system according to claim 1, wherein said processor automatically adjusts said price based on a selling rate so as to substantially eliminate a seller'"'"'s unsold merchandise.

13. The system according to claim 1, wherein a seller uses a user terminal to input selling data and a buyer uses a user terminal to input purchasing data, and wherein said at least one processor matches buyers with merchandise by comparing said selling data and said buying data.

14. The system according to claim 1, wherein said processor automatically adjusts a price of said merchandise based on a quality of said merchandise.

15. The system according to claim 1, wherein said processor automatically adjusts a price of said merchandise based on a destination address for said merchandise.

42. The system according to claim 3, wherein said price is automatically reduced as time approaches said expiration period.

16. An system for selling merchandise over a network, comprising:

a plurality of user terminals, each of said user terminals comprising a processor for executing a web browser;

a website accessible by a user terminal; and

a processor, accessible by said website, for executing a web server and for automatically adjusting a price of said merchandise based on a predetermined event.

17. The system according to claim 16, wherein said website comprises a plurality of websites.

18. The system according to claim 17, wherein each website in said plurality of websites is directed to merchandise having a different quality level.

19. A system for buying and selling merchandise, said system having a machine readable recording medium comprising a program for:

pricing said merchandise based on a predetermined event;

inputting transaction data into said network so that said data is accessible at a user terminal; and

matching buyers and sellers of said merchandise in said network to facilitate a transaction.

20. An electronic market system for facilitating commercial transactions, said system comprising:

an electronic network;

a transaction initiating terminal connected to said network for sending and receiving transaction data;

a transaction destination terminal connected to said network for sending and receiving transaction data, and

a processor accessible by said transaction initiating terminal and said transaction destination terminal and comprising software for automatically adjusting a merchandise price based on a predetermined event.

21. An system for conducting electronic commerce, comprising:

a network;

a vendor input device for inputting vendor data to said network;

a buyer input device for inputting buyer data to said network; and

a processor accessible by said vendor input device and said buyer input device for automatically adjusting a price based upon said a predetermined event and comparing said vendor data and said buyer data to allocate merchandise.

22. A system for buying and selling merchandise, comprising:

a network;

at least one server connected to said network for storing data; and

a central processor unit operatively associated with said at least one server for processing said data and automatically adjusting a price of said merchandise based on a predetermined event.

23. A method for buying and selling an item over a network having a plurality of user terminals, said method comprising:

inputting transaction data into said network so that said data is accessible at a user terminal;

automatically adjusting a price of said item based on a predetermined event; and

matching buyers with said item to facilitate a transaction.

24. The method according to claim 23, wherein said transaction data comprises seller item data and buyer purchasing data.

25. The method according to claim 23, wherein said network comprises a central server accessible by said plurality of user terminals for storing transaction data.

26. The method according to claim 23, wherein said network comprises an Internet-based network.

27. The method according to claim 23, wherein said transaction data is stored remote from said plurality of user terminals.

28. The method according to claim 23, wherein said item comprises a time-sensitive item having an expiration period and wherein said price is automatically reduced as said expiration period gets closer to expiring.

29. The method according to claim 28, wherein said price is automatically adjusted at a predetermined interval as said expiration period approaches.

30. The method according to claim 28, further comprising:

identifying an expiration date for a particular item; and

calculating a quantity of an order to be purchased on a particular date based on a consumption rate for said item so as to minimize a total price for said order.

31. The method according to claim 23, wherein said price is automatically adjusted based on a selling rate so as to substantially eliminate a seller'"'"'s unsold item.

32. The method according to claim 23, wherein a seller uses a user terminal to input selling data and a buyer uses a user terminal to input purchasing data, and wherein buyers are matched with items by comparing said selling data and said buying data.

33. The method according to claim 23, wherein a price is automatically adjusted based on a quality of said item.

34. The method according to claim 23, wherein a price is automatically adjusted based on a destination address for said item.

35. The method according to claim 23, further comprising:

notifying said buyer and said seller when a match is identified.

36. The method according to claim 23, further comprising:

searching said network to find a lowest price for said item.

37. The method according to claim 23, further comprising:

sorting items based on corresponding prices of said items; and

placing an order for said items having a lowest price.

38. The method according to claim 23, wherein said item includes at least one of a good and a service.

39. A method for buying and selling merchandise comprising:

initially pricing said merchandise;

automatically adjusting a price of said merchandise upon the occurrence of a predetermined event; and

matching buyers and sellers of said merchandise to facilitate a transaction.

40. A method of buying and selling merchandise comprising:

inputting pricing and predetermined event data for said merchandise;

inputting purchasing data; and

allocating said merchandise based on said purchasing data, said predetermined event data and said purchasing data.

41. A method for buying and selling time-sensitive merchandise comprising:

using the Internet to solicit an order for said merchandise;

accessing a server to search prices and expiration periods of said merchandise corresponding to sellers of said merchandise; and

comparing said prices and said expiration periods to find a seller corresponding to a desired price and expiration period for said merchandise.

43. A programmable storage medium tangibly embodying a program of machine-readable instructions executable by a digital processing apparatus to perform a method for buying and selling merchandise, said method comprising:

initially pricing said merchandise;

automatically adjusting a price of said merchandise upon the occurrence of a predetermined event; and

matching buyers and sellers of said merchandise to facilitate a transaction.