COMMODITIZATION OF PRODUCTS AND PRODUCT MARKET

• US 20080154761A1
• Filed: 06/21/2007
• Published: 06/26/2008
• Est. Priority Date: 12/20/2006
• Status: Abandoned Application

• Current Assignee: Microsoft Technology Licensing LLC (Microsoft Corporation)
• Original Assignee: Microsoft Corporation
• Inventors: Hemmen, Jeffrey R., Cheng, Lili, Jain, Kamal, Flake, Gary W., Smith, Leonard, Horvitz, Eric J., Gounares, Alexander G., Dani, Nishant V.
• Application Number:
  US11/766,695
• Publication Number:
  US 20080154761A1
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

The claimed subject matter relates to an architecture that can facilitate the commoditization of both products and product markets in resale domains in order to aid in quantifying a value of used product as well as to enhance efficiencies and/or profits in resale markets. In one aspect, the architecture can determine a recommended (e.g., average) price and listing fee for a product. In another aspect, desired (e.g. indicated by the seller) values can be provided and based upon various market factors and differences between the desired values and the recommended values, the architecture can determine a variety of probabilities relating to the conversion of the product, as well as provide suggestions for increases the potential for a conversion. In addition, the architecture can identify and capitalize on arbitrage opportunities within the market.

Claims

1. A computer-implement system that commoditizes products and/or product markets in order to facilitate improved efficiencies in resale markets, comprising:

an acquisition component that obtains product data associated with a product for resale; and

an evaluation component that determines based upon the product data a suggested asking price for the product and a suggested listing fee for a product marketplace.

2. The system of claim 1, the product data includes at least one of a product class, a product manufacturer, a product brand, a product model, a purchase price, a date of purchase, a product condition, a number of previous owners, a product feature, an included product accessory, an asking price, a listing fee, or a sell-by date.

3. The system of claim 1, the acquisition component obtains a portion of the product data as input from a seller of the product.

4. The system of claim 1, the acquisition component obtains a portion of the product data from an advertisement or listing of a competing product.

5. The system of claim 1, the acquisition component obtains a portion of the product data from an owner or purchaser of the product or a competing product.

6. The system of claim 1, the evaluation component determines the suggested asking price based at least in part upon an asking price associated with one or more competing products.

7. The system of claim 1, the evaluation component determines the suggested listing fee based at least in part upon a listing fee associated with one or more product marketplaces.

8. The system of claim 1, further comprising a communications component that outputs the suggested asking price and the suggested listing fee to a seller of the product.

9. The system of claim 1, further comprising a communications component that receives from a seller of the product a desired asking price for the product and a desired listing fee to a marketplace.

10. The system of claim 9, the evaluation component infers a number of impressions a listing of the product is likely to receive in a product marketplace.

11. The system of claim 9, the evaluation component infers a probability that an impression will result in a conversion of the product.

12. The system of claim 9, the evaluation component infers a probability of conversion of the product within a certain time period based at least in part upon the desired asking price and the desired listing fee.

13. The system of claim 12, the communications component outputs the probability to the seller.

14. The system of claim 13, the evaluation component provides suggestions to increase the probability, the suggestions relating to at least one of the desired ask price, the desired listing fee, or a desired period in which to convert the product.

15. The system of claim 12, the communications component outputs the probability to a product marketplace host.

16. The system of claim 1, further comprising an arbitrage component that facilitates conversion and resale of an advantageously priced product, the advantageously priced product has an asking price that is less than the suggested asking price minus the suggested listing fee.

17. A computer-implemented method for commoditizing products and/or product markets in order to facilitate improved efficiencies in resale markets, comprising:

receiving from a seller a description of a product for resale;

acquiring a set of product data pertaining to the product from at least one of a marketplace or an owner of the product or a similar product;

storing the product data and the product description to a data store;

employing data from the data store for determining a recommended asking price and a recommended listing fee.

18. The method of claim 17, further comprising at least one of the following acts:

providing the recommended asking price and the recommended listing fee to the seller;

obtaining from the seller a desired asking price and a desired listing fee;

inferring a number of impressions a listing of the product is likely to receive;

inferring a probability that an impression will result in a conversion of the product;

inferring a likelihood that an impression or the conversion will occur within a designated time period;

supplying to at least one of the seller or a marketplace host a set of inferences relating to the conversion of the product;

or

transmitting to the seller a set of suggestions for improving a conversation probability.

19. The method of claim 17, further comprising at least one of the following acts:

examining the data store for selecting a product representing an arbitrage opportunity;

facilitating a purchase of the selected product;

or

facilitating a resale of the selected product at an advantageous price.

20. A computer-implemented system for commoditizing products and/or product markets, comprising:

computer-implemented means for obtaining from a seller a description of a product for resale;

computer-implemented means for acquiring from a marketplace a set of product data pertaining to the product;

computer-implemented means for saving the product data and the product description to a data store;

computer-implemented means for utilizing data from the data store for determining a suggested asking price and a suggested listing fee for the product.