Comparison Shopping Via Financial Management Software

• US 20080215455A1
• Filed: 04/16/2008
• Published: 09/04/2008
• Est. Priority Date: 08/04/2004
• Status: Active Grant

• Current Assignee: Jacquelle D. Leggett, Mark E. Peters
• Original Assignee: Jacquelle D. Leggett, Mark E. Peters
• Inventors: Peters, Mark E., Leggett, Jacquelle D.
• Granted Patent: US 8,131,600 B2
• Time in Patent Office: Days
• US Class Current: 705/26
• CPC Class Codes: G06Q 30/00 Commerce
• CPC Class Codes: G06Q 30/0619 Neutral agent
• CPC Class Codes: G06Q 30/0623 Item investigation
• CPC Class Codes: G06Q 30/0625 Directed, with specific intent or strategy
• CPC Class Codes: G06Q 30/0629 for generating comparisons
• CPC Class Codes: G06Q 30/0639 Item locations

Abstract

The invention comprises a financial management program and one or more databases containing information on merchants and their products. The program interacts with the databases containing the product information to return the prices and availability of goods located in a designated area. The program compares prices from various merchants and displays the results to the consumer. The program also allows the consumer to compare the prices with a household budget an financial data, while keeping track of trends in the consumer'"'"'s spending and buying habits.

Claims

1. A data processing machine comprising:

a processor;

a memory;

a plurality of product identifiers in the memory;

a database in the memory, the database comprising a plurality of merchants'"'"' prices for each product identifier; and

a program operable on the processor to

retrieve the merchant prices from the database,

match each product identifier with all corresponding merchant prices, and

determine the minimum merchant price for each product identifier;

whereby a consumer using the data processing machine can compare each merchant'"'"'s price for a plurality of products.

2. The data processing machine of claim 1 wherein the program further is operable on the processor to identify the merchant having the aggregate minimum price for all product identifiers.

3. The data processing machine of claim 1 wherein the database further comprises the merchants'"'"' availability for each product identifier;

and the program further is operable on the processor to place an order with the merchants for one or more available products.

4. The data processing machine of claim 2 wherein the database further comprises the merchants'"'"' availability for each product identifier;

and the program further is operable on the processor to place an order with the merchants for one or more available products.

5. The data processing machine of claim 1 wherein the program further is operable on the processor to:

retrieve transaction data from a bank, the transaction data comprising a product purchase price;

match the product purchase price with all corresponding merchant prices; and

determine the difference between the product purchase price and each corresponding product price;

whereby a consumer using the data processing machine can compare the product purchase price with each merchant'"'"'s offered price for the same product.

6. The data processing machine of claim 5 wherein the program further is operable on the processor to determine the maximum difference between the product purchase price and the corresponding merchant prices.

7. The data processing machine of claim 1 wherein the program further is operable on the processor to:

assign each product identifier to a budget category;

set a spending limit for each budget category; and

determine if the minimum merchant price for any product identifier exceeds the spending limit of the budget category to which the product identifier is assigned.

8. The data processing machine of claim 1 wherein:

the database further comprises location data for each merchant; and

the program further is operable on the processor to designate a preferred merchant location, and

match the preferred location with all corresponding merchant location data;

whereby the merchant prices retrieved from the database are limited to prices offered by merchants within the preferred merchant location.

9. A data processing machine comprising:

a processor;

a memory;

a database in the memory, the database comprising a plurality of merchants'"'"' prices for products; and

a program operable on the processor to

retrieve transaction data from a bank, the transaction data comprising a product purchase price,

retrieve the merchant prices from the database,

match the product purchase price with all corresponding merchant prices, and

determine the difference between the product purchase price and each corresponding merchant price;

whereby a consumer using the data processing machine can compare the product purchase price with each merchant'"'"'s offered price for the same product.

10. The data processing machine of claim 9 wherein:

the database further comprises location data for each merchant; and

the program further is operable on the processor to

designate a preferred merchant location, and

match the preferred location with all corresponding merchant location data;

whereby the merchant prices retrieved from the database are limited to prices offered by merchants within the preferred merchant location.

11. The data processing machine of claim 9 wherein the program further is operable on the processor to determine the maximum difference between the product purchase price and the corresponding merchant prices.

12. The data processing machine of claim 10 wherein the program further is operable on the processor to determine the maximum difference between the product purchase price and the corresponding merchant prices.

13. An improved financial management program operable on a data processing machine to communicate with a database comprising a plurality of merchants'"'"' prices for products, the program comprising:

means for reading a list of product identifiers;

means for retrieving the merchant prices from the database;

means for matching each product identifier with the corresponding merchant prices;

means for determining the minimum merchant price for each product identifier; and

means for displaying the minimum merchant price for each product identifier;

whereby a consumer using the improved financial management program can compare each merchant'"'"'s price for each product identifier.

14. The improved financial management program of claim 13 wherein the database further comprises location data for each merchant and the program further comprises:

means for designating a preferred merchant location; and

means for matching the preferred merchant location with all corresponding merchant location data;

whereby the merchant prices retrieved from the database are limited to prices offered by merchants within the preferred merchant location.

15. The improved financial management program of claim 13 further comprising means for identifying the merchant having the aggregate minimum price for all product identifiers.

16. The improved financial management program of claim 14 further comprising means for identifying the merchant having the aggregate minimum price for all product identifiers.

17. The improved financial management program of claim 13 further comprising means for determining the availability of products, and means for placing an order with the merchants for one or more available products.

18. The improved financial management program of claim 14 further comprising means for determining the availability of products, and means for placing an order with the merchants for one or more products.

19. The improved financial management program of claim 13 further comprising:

means for retrieving transaction data from a bank, the transaction data comprising a product purchase price;

means for matching the product purchase price with the corresponding merchant prices; and

means for determining the difference between the product purchase price and each corresponding merchant price.

20. The improved financial management program of claim 19 further comprising means for determining the maximum difference between the product purchase price and the corresponding merchant prices.

21. The improved financial management program of claim 14 further comprising:

means for retrieving transaction data from a banks the transaction data comprising a product purchase price;

means for matching the product purchase price with the corresponding merchant prices; and

means for determining the difference between the product purchase price and each corresponding merchant price.

22. The improved financial management program of claim 21 further comprising means for determining the maximum difference between the product purchase price and the corresponding merchant prices.

23. The improved financial management program of claim 13 further comprising:

means for assigning each product identifier to a budget category;

means for setting a spending limit for each budget category; and

means for determining if the minimum merchant price for any product identifier exceeds the spending limit of the budget category to which the product identifier is assigned.

24. The improved financial management program of claim 14 further comprising:

means for assigning each product identifier to a budget category;

means for setting a spending limit for each budget category; and

means for determining if the minimum merchant price for any product identifier exceeds the spending limit of the budget category to which the product identifier is assigned.

25. A process for comparing a plurality of merchants'"'"' prices for products, the process comprising the steps of:

inserting into a database each merchant'"'"'s prices for the products;

compiling a list of desired products;

retrieving the price of each desired product from the database,

determining the minimum merchant price for each desired product, and

displaying the minimum product price for each desired product to a consumer.

26. The process of claim 25 further comprising the step of designating a preferred merchant location;

wherein the prices retrieved from the database are limited to prices offered by merchants within the preferred merchant location.

27. The process of claim 25 further comprising the step of identifying the merchant having the aggregate minimum price for all desired products.

28. The process of claim 26 further comprising the step of identifying the merchant having the aggregate minimum price for all desired products.

29. A process for comparing a plurality of merchants'"'"' prices for products, the process comprising the steps of:

inserting into a database each merchant'"'"'s prices;

purchasing a product;

transmitting the purchase price to a bank;

receiving the purchase price from the bank;

receiving the merchant prices from the database;

matching the purchased product with all corresponding merchant prices in the database; and

determining the difference between the purchase price and each corresponding merchant price;

whereby a consumer can compare the purchase price with each merchant'"'"'s offered price for the same product.

30. The process of claim 29 further comprising the step of designating a preferred merchant location;

wherein the merchant prices retrieved are limited to prices offered by merchants within the preferred merchant location.

31. The process of claim 29 further comprising the step of determining the maximum difference between the purchase price and the corresponding merchant prices.

32. The process of claim 30 further comprising the step of determining the maximum difference between the purchase price and the corresponding merchant prices.

33. A data processing machine comprising:

a processor;

a memory;

a plurality of product identifiers in the memory;

a database in the memory, the database comprising

a plurality of merchants'"'"' prices for each product identifier,

each merchant'"'"'s availability for each product identifier, and

location data for each merchant; and

a program operable on the processor to

retrieve the merchant prices from the database,

match each product identifier with all corresponding merchant prices,

determine the minimum merchant price for each product identifier,

identify the merchant having the aggregate minimum price for all product identifiers,

place an order with the merchants for one or more available products,

retrieve transaction data from a bank, the transaction data comprising a product purchase price,

match the product purchase price with all corresponding merchant prices,

determine the difference between the product purchase price and each corresponding product price,

determine the maximum difference between the product purchase price and the corresponding merchant prices,

assign each product identifier to a budget category,

set a spending limit for each budget category,

determine if the minimum merchant price for any product identifier exceeds the spending limit of the budget category to which the product identifier is assigned,

designate a preferred merchant location, and

match the preferred location with all corresponding merchant location data;

whereby a consumer using the data processing machine can compare each merchant'"'"'s price for a plurality of products and compare merchant'"'"'s prices with budget spending limits.