Credit based product marketing method

• US 20050209922A1
• Filed: 03/15/2005
• Published: 09/22/2005
• Est. Priority Date: 03/19/2004
• Status: Abandoned Application

• Current Assignee: Kurt J. Hofmeister
• Original Assignee: Kurt J. Hofmeister
• Inventors: Hofmeister, Kurt J.
• Application Number:
  US11/080,529
• Publication Number:
  US 20050209922A1
• Time in Patent Office: Days
• US Class Current: 705/14.250
• CPC Class Codes: G06Q 30/0224 based on user history
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

A credit based marketing process for products and services identifies a particular product or service to be offered to a list of prospective consumers. The list of prospective consumers is subjected to parameters to identify creditworthy prospects by a lending institution or by an independent credit rating agency. Offers to sell the product or service on a credit plan, including the establishment of a credit account, are distributed by direct mail, telemarketing or a computer network, for example. A transaction is completed by notifying a lending institution underwriting the process of a transaction whereby the transaction is funded and an account for the purchaser/consumer is established. The process eliminates or reduces costs to the provider and the lending institution by eliminating unqualified customers, gives the provider a competitive advantage and saves time and effort for the consumer.

Claims

1. A credit based marketing method for a product or service comprising:

defining at least a type of product or service to be marketed;

generating a list of prospective customers for said product or said service based on a first set of parameters;

submitting said list to a lending institution for establishing a second set of parameters with respect to said list to generate a final list;

distributing an offer to make a credit based purchase of said product or said service to prospective customers on said final list;

executing transactions with one or more customers to purchase said product or said service by a provider thereof and establishing a credit account for said customers by said lending institution; and

delivering said product or said service to said customers, respectively.

2. The method set forth in claim 1 including the step of:

submitting said final list to an independent credit rating agency and further establishing said final list based on the parameters defined by the lending institution and information furnished by said credit rating agency prior to distribution of said offers.

3. The method set forth in claim 1 including the step of:

distributing said offers by an independent marketing/advertising entity.

4. The method set forth in claim 1 including the step of:

distributing said offers by one of direct mail, telephone or a computer network.

5. The method set forth in claim 1 including the step of:

funding said provider by said lending institution upon completion of said transactions, respectively.

6. The method set forth in claim 1 including the step of:

delivering said product or said service by a fulfillment center associated with said provider.

7. The method set forth in claim 1 wherein:

said list is developed by said provider.

8. The method set forth in claim 1 wherein:

said lending institution is owned or controlled by said provider.

9. The method set forth in claim 1 including the step of:

converting one or more of said credit accounts to general purpose credit card accounts.

10. A credit based marketing method for a product or service comprising:

defining a product or service to be marketed;

generating a list of prospective customers for said product or said service based on a predetermined set of parameters;

distributing offers to make a credit based purchase of said product or said service to prospective customers on said list via one of direct mail, telephone or a computer network;

verifying responses from said customers; and

executing transactions with said customers to purchase said product or said service by a provider thereof and establishing respective credit accounts for said customers to pay for said purchases by a lending institution.

11. The method set forth in claim 10 including the step of:

submitting said list to said lending institution for defining another set of parameters with respect to said list.

12. The method set forth in claim 11 including the step of:

submitting said list to an independent credit rating agency and establishing a final list based on said set of parameters defined by said lending institution and information received from said credit rating agency prior to distribution of said offers.

13. The method set forth in claim 10 including the step of:

distributing said offers by an independent marketing/advertising entity.

14. The method set forth in claim 10 including the step of:

funding said provider by said lending institution upon completion of said transactions, respectively.

15. The method set forth in claim 10 including the step of:

delivering said product or said service by a fulfillment center associated with said provider.

16. The method set forth in claim 10 wherein:

said list is developed by said provider.

17. The method set forth in claim 10 wherein:

said lending institution is owned or controlled by said provider.

18. The method set forth in claim 10 including the step of:

converting one or more of said credit accounts to general purpose credit card accounts.

19. A credit based marketing method for a product or service comprising:

defining a product or service to be marketed;

generating a list of prospective customers for said product or said service based on a predetermined set of parameters;

submitting said list to a lending institution for establishing a further set of parameters with respect to said list;

distributing offers to make a pre-approved credit based purchase of said product or said service to prospective customers selected from said list via one of direct mail, telephone or a computer network;

verifying responses from said customers; and

executing transactions with said customers to purchase said product or said service by a provider thereof and establishing respective credit accounts for said customers to pay for said purchases by said lending institution.

20. The method set forth in claim 19 including the step of:

submitting said list to an independent credit rating agency and establishing a final list of prospective customers based on said further set of parameters defined by said lending institution and information from said credit rating agency prior to distribution of said offers.

21. The method set forth in claim 19 including the step of:

stating a price for said product or service as part of said offer.

22. The method set forth in claim 19 including the step of:

disclosing required terms and conditions of said transaction as part of said offer.