Web-based computer programming method to automatically fetch, compare, and update various product prices on the web servers

• US 20040249643A1
• Filed: 06/06/2003
• Published: 12/09/2004
• Est. Priority Date: 06/06/2003
• Status: Abandoned Application

• Current Assignee: MA Laboratories Incorporated
• Original Assignee: MA Laboratories Incorporated
• Inventors: Han, Michael, Ma, Abraham C., Ouyang, Lien
• Application Number:
  US10/455,378
• Publication Number:
  US 20040249643A1
• Time in Patent Office: Days
• US Class Current: 705/1
• CPC Class Codes: G06F 16/958 Organisation or management of web site content, e.g. publishing, maintaining pages or automatic linking
• CPC Class Codes: G06Q 30/0283 Price estimation or determination
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions

Abstract

A method utilizes a keyword based rule set to crawl through the web pages and fetch the related product prices. There are many algorithms involved for accurately matching and selecting the required items. The data is then sorted by the price and brand and compared with the database of a group of known products. The prices of the known products are then adjusted via a set of built-in rules to put them in a very competitive position, such as number 1 or 2 among the same product category. The new prices make the seller'"'"'s products very competitive online. The new price list will then automatically be posted to the web server to replace the old prices. The whole process is automated by simply placing the program on a computer operating system scheduler and let it run periodically according to the specified date and time.

Claims

1. A web-based computer programming method adapted to automatically fetch, compare, and update a plurality of product prices on web servers, the method comprising the steps of:

(a) A seller employing a keyword and a price database and utilizing item searching and matching algorithms to crawl through a web server to obtain competitors'"'"' selling prices of predetermined products, and then sorting collected data in ascending order; and

(b) Comparing collected data with prices of same products stored in said price database and then adjusting the prices in said price database to be the most competitive based on a set of built-in rules in the program, and then reposting the adjusted prices to seller'"'"'s own store on the web server.

2. The web-based computer programming method as in claim 1, wherein the employment of said keyword includes a sub-step of using a filtering logic to filter out the unwanted ones from searched products, said filtering logic including wordings that describe the opposite meaning of a feature and conventions that are being used to describe some product features.

3. The web-based computer programming method as in claim 1, wherein said price database has a table stored therein, said table including item codes, keywords, and filtering codes.

4. The web-based computer programming method as in claim 2, wherein said item codes are manufacturers or vendors'"'"' part numbers.

5. The web-based computer programming method as in claim 2, wherein said keywords are used in logical AND way to search the desired items in the web server.

6. The web-based computer programming method as in claim 2, wherein said filtering codes are adapted to filter out some items that have the matching keywords embedded in their product descriptions, but are not the items the program is looking for.

7. The web-based computer programming method as in claim 1, wherein said built-in rule takes into consideration of a number of factors including the number of items on the market, the lowest price, the second lowest prices, and the seller'"'"'s cost, shipping and handling cost, profit margin, etc.

8. The web-based computer programming method as in claim 1, wherein when adjusting the price of an assigned product listed in said price database, it is subject to the rule in which the seller'"'"'s base price is the cost and the seller'"'"'s price is higher than the lowest price on the market.

9. The web-based computer programming method as in claim 8, wherein said seller'"'"'s base price is the cost, plus a predetermined percentage markup and the shipping and insurance charges, said base price is compared with the lowest price on the market.

10. The web-based computer programming method as in claim 9, wherein If the seller'"'"'s price is lower than that, then it may mean the seller sets the price too low, and the price will be adjusted up according to a predetermined formula:

Final_price=Lowest_price−

parameter 1, said parameter1 being set to Lowest_price multiplied by a small factor, enabling the seller'"'"'s price just to be a little lower than the current market'"'"'s lowest price by at least one cent.

11. The web-based computer programming method as in claim 9, wherein the program adjusts the price down subject to said built-in rule If the seller'"'"'s price is higher than market'"'"'s lowest price.

12. The web-based computer programming method as in claim 11, wherein the program adjusts the price down subject to a formula set in said built-in rule, said formula being adjusted and varied according to the categories of the products and their price structures in the online market place as follows:

If

(Seller_price−

Lowest_price)<

parameter2

Where parameter2 is a preset constant

And

(Seller_price−

Lowest_price)/Lowest_price<

parameter3

Where parameter3 is a small fraction

Then

Final_price=Lowest_price−

parameter4

Where parameter4 is Lowest_price multiplied by a small factor.

13. The web-based computer programming method as in claim 12, wherein if the seller'"'"'s price does not satisfy the defined conditions, the program then removes the item from the selling list and replace it with a new product based on the market demand and set the price accordingly.

14. The web-based computer programming method as in claim 12, wherein if the seller'"'"'s price does not satisfy the defined conditions, the program then decides to sell it at no profit or at loss due to marketing strategy of gaining market share and increasing sales of other related products at profit. The program will decide based on the market demand and adjust the product price accordingly.

15. The web-based computer programming method as in claim 13, wherein the program compiles and prints out ranking list for all products in the database for reference daily, selects new items from the list based on the current market demand, subject to the rule that if more vendors found on the market for the same product, then it means this product could be very popular, and adjusts the pricing criteria to set the seller'"'"'s price to be the second or third competitive by replacing the “

Lowest_price”

in the formula with the “

Second_lowest_price”

or “

Third_lowest_price”

, enabling the new price to be put in the desired position.

16. The web-based computer programming method as in claim 1, wherein the price on seller'"'"'s own e-commerce website is maintained consistent with the price on the specific price comparison website from which a buyer is hyper linked with the e-commerce website, meaning the e-commerce website supports multi-pricing structure, and whenever a price adjustment is made on the price comparison website, the same adjustment is also made automatically on the e-commerce website by said web-based computer program in synchronization.