Business systems with price guarantee and display

• US 20060015403A1
• Filed: 04/06/2005
• Published: 01/19/2006
• Est. Priority Date: 08/17/1999
• Status: Active Grant

• Current Assignee: Kioba Processing, LLC (IP Investments Group LLC)
• Original Assignee: Auctnyc 13 LLC (Intellectual Ventures LLC)
• Inventors: McClung, Guy L. III
• Granted Patent: US 7,769,631 B2
• Time in Patent Office: Days
• US Class Current: 705/14.350
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0207 Discounts or incentives, e.g. coupons or rebates
• CPC Class Codes: G06Q 30/0222 During e-commerce, i.e. online transactions
• CPC Class Codes: G06Q 30/0234 Rebates after completed purchase
• CPC Class Codes: G06Q 30/0235 constrained by time limit or expiration date
• CPC Class Codes: G06Q 30/0239 Online discounts or incentives
• CPC Class Codes: G06Q 30/04 Billing or invoicing

Abstract

A method for guaranteeing a consumer a best price on an item purchased from a vendor in a consummated final first transaction, the method including, in certain aspects, including determining a refund due to insure that a consumer receives the benefit of a later better price, and displaying the refund amount, individually or publicly, and, in one particular aspect, displaying a total amount for a plurality of such refunds.

Claims

1. A method for guaranteeing a consumer a best price on an item purchased from a vendor in a consummated final first transaction at a first price, the method comprising

recording the first price and information identifying the consumer,

monitoring the sales price of the item for a predetermined time period after purchase of the item by the consumer in the consummated final first transaction,

noting any price lower than the first price for the item during the predetermined time period following the purchase of the item,

calculating a money-value difference between the first price and said any price lower than the first price, and

refunding to the consumer a refund amount equal to the money-value difference,

wherein the item is purchased via a host system and the host system records the first price and information identifying the customer;

the host system conducts the monitoring, noting, and calculating steps; and

the host system provides the refund to the consumer,

wherein the host system provides the refund by crediting an account of the consumer, and

displaying the refund amount.

2. The method of claim 1 wherein the item is purchased by the consumer at a location of the vendor.

3. The method of claim 1 wherein the item is purchased by the consumer on-line via a network system.

4. The method of claim 1 wherein the account is an account of the consumer with the host system.

5. The method of claim 1 wherein said displaying is an individual private display to the consumer.

6. The method of claim 5 wherein the individual display is via email.

7. The method of claim 1 wherein only prices for the item to be sold by the vendor involved in the first transaction are taken into account in the noting step.

8. The method of claim 1 wherein only prices for the item for sale in a pertinent geographic area are taken into account in the noting step.

9. The method of claim 1 wherein said displaying is a public display.

10. A method for a vendor to publicize a total money amount of refunds provided to consumers, the method comprising

totalling a money amount of a plurality of refunds made to consumers by the vendor producing a totalled money amount,

displaying the totalled money amount,

each refund of said plurality of refunds determined by a guarantee method for guaranteeing a consumer a best price on an item purchased from a vendor in a consummated final first transaction at a first price, the guarantee method comprising

recording the first price and information identifying the consumer,

monitoring the sales price of the item for a predetermined time period after purchase of the item by the consumer in the consummated final first transaction,

noting any price lower than the first price for the item during the predetermined time period following the purchase of the item,

calculating a money-value difference between the first price and said any price lower than the first price, and

refunding to the consumer a refund amount equal to the money-value difference,

wherein the item is purchased via a host system and the host system records the first price and information identifying the customer;

the host system conducts the monitoring, noting, and calculating steps; and

the host system provides the refund to the consumer, and

wherein the host system provides the refund by crediting an account of the consumer.

11. The method of claim 10 wherein said displaying is an individual private display to the consumer.

12. The method of claim 10 wherein the individual display is via email.

13. The method of claim 10 wherein said displaying is via email to a plurality of entities.

14. The method of claim 10 wherein said displaying is via email to the consumers.