Price guarantee methods and systems
First Claim
1. A computer implemented method for guaranteeing a consumer a best price on an item or service purchased from a vendor in a first transaction at a first time at a first price, the first price paid by the consumer at the first time, the method comprising storing in a first database data for the first price and information identifying the consumer, inputting at least one second price for the item or service, said second price comprising a price for the item or service at a time later than the first time, determining, during a predetermined time period following the first time, any price of the at least one second price lower than the first price for the item, comparing the first price to the at least one second price and calculating a money-value difference between the first price and any price of the at least one second price lower than the first price, refunding to the consumer a refund amount equal to the money-value difference, and posting the refund amount as a credit to an account of the consumer, wherein only prices for the item or service purchased from the vendor involved in the first transaction are taken into account in the determining step.
4 Assignments
0 Petitions
Accused Products
Abstract
A method for guaranteeing a consumer a best price on an item or service purchased from a vendor in a consummated final first transaction, the method including, in certain aspects, determining a refund due to insure that a consumer receives the benefit of a later better price.
141 Citations
24 Claims
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1. A computer implemented method for guaranteeing a consumer a best price on an item or service purchased from a vendor in a first transaction at a first time at a first price, the first price paid by the consumer at the first time, the method comprising
storing in a first database data for the first price and information identifying the consumer, inputting at least one second price for the item or service, said second price comprising a price for the item or service at a time later than the first time, determining, during a predetermined time period following the first time, any price of the at least one second price lower than the first price for the item, comparing the first price to the at least one second price and calculating a money-value difference between the first price and any price of the at least one second price lower than the first price, refunding to the consumer a refund amount equal to the money-value difference, and posting the refund amount as a credit to an account of the consumer, wherein only prices for the item or service purchased from the vendor involved in the first transaction are taken into account in the determining step.
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14. A computer program product comprising a computer storage medium having a computer program therein for guaranteeing a consumer a best price of an item or service purchased at a first price from a vendor in a first transaction at a first time, the first price paid by the consumer at the first time, said computer program performing the steps of
receiving and storing in a first database data for the first price with a unique identifier identifying the consumer, receiving and storing in a second database at least one second price for the item or service, said second price comprising a price for the item or service at a time later than the first time, determining, during a predetermined time period following the first time, any price of the at least one second price lower than the first price, comparing the first price to the at least one second price, calculating a money-value difference between the first price and the at least one second price lower than the first price, generating a refund amount equal to the money-value difference, crediting an account of the consumer with the refund amount, and wherein only prices for the item or service purchased from the vendor involved in the first transaction are taken into account in the determining step.
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17. An apparatus for guaranteeing a best price to a consumer for an item or service purchased at a first price at a first time from a vendor in a first transaction, the first price paid by the consumer at the first time, the apparatus comprising
a storage device, a processor device connected to the storage device, the storage device storing a program for controlling the processor, the processor operative to compare the first price to at least one second price for the item or service, said at least one second price temporally subsequent to the first price, determine whether the at least one second price is lower than the first price, wherein only prices for the item or service purchased from the vendor involved in the first transaction are taken into account, and, if so, calculate a money-value difference between the first price and the at least one second price which is lower than the first price, generate a refund amount equal to the money-value difference, and to credit an account of the consumer with the refund amount.
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21. A computer implemented method for guaranteeing a consumer a best price on an item or service purchased from a vendor in a first transaction at a first time at a first price, the first price paid by the consumer at the first time, 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;
refunding to an account of the consumer an amount equal to the money-value difference; and
duplicating for the consumer any incentive accompanying sales of the item after the consummated final first transaction during the predetermined time period. - View Dependent Claims (22, 23, 24)
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Specification