Dynamic pricing of items based on number of items sold during a time period

• US 20080221948A1
• Filed: 10/31/2007
• Published: 09/11/2008
• Est. Priority Date: 02/28/2001
• Status: Abandoned Application

• Current Assignee: Digonex Technologies Incorporated (Emmis Communications Corporation)
• Original Assignee: Digonex Technologies Incorporated (Emmis Communications Corporation)
• Inventors: Voils, Josh, Eglen, Jeremy, Bakke, Justin
• Application Number:
  US11/981,293
• Publication Number:
  US 20080221948A1
• Time in Patent Office: Days
• US Class Current: 705/7
• CPC Class Codes: G06Q 10/00 Administration; Management
• CPC Class Codes: G06Q 10/02 Reservations, e.g. for tickets, services or events
• CPC Class Codes: G06Q 20/201 Price look-up processing, e.g. updating
• CPC Class Codes: G06Q 30/00 Commerce
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0206 Price or cost determination based on market factors
• 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 30/0267 Wireless devices
• CPC Class Codes: G06Q 30/0277 Online advertisement
• CPC Class Codes: G06Q 30/0283 Price estimation or determination
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0613 Third-party assisted
• CPC Class Codes: G06Q 30/0633 Lists, e.g. purchase orders, compilation or processing
• CPC Class Codes: G06Q 30/0635 Processing of requisition or of purchase orders
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

A method comprises sending a first price of an item for sale from a processor to one or more clients over a network, receiving one or more orders for the item at the first price from one or more of the clients, delivering the item to the one or more clients that ordered the item at the first price, establishing a time period for monitoring the quantity of items sold at the first price, monitoring the quantity of items sold at the first price during the established time period, establishing an upper limit for the quantity of items sold at the first price, pricing the item at a second price with the processor based at least on the one or more orders at the first price, and sending the second price over the network to one or more clients. The pricing includes setting the second price above the first price if the quantity of items sold during the established time period is above the established upper limit

Claims

1. A method, comprising:

sending a first price of an item for sale from a processor to one or more clients over a network;

receiving one or more orders for the item at the first price from one or more of the clients;

delivering the item to the one or more clients that ordered the item at the first price;

establishing a time period for monitoring the quantity of items sold at the first price;

monitoring the quantity of items sold at the first price during the established time period;

establishing an upper limit for the quantity of items sold at the first price;

pricing the item at a second price with the processor based at least on the one or more orders at the first price;

sending the second price over the network to one or more clients;

wherein said pricing includes setting the second price above the first price if the quantity of items sold during the established time period is above the established upper limit.

2. The method of claim 1 further comprising establishing a lower limit for the quantity of items sold at the first price and wherein said pricing includes setting the second price below the first price if the quantity of items sold during the established time period is below the established lower limit.

3. The method of claim 2 wherein the second price is set equal to the first price if the quantity of items sold during the established time period is between the lower and upper limits.

4. The method of claim 3 wherein the second price is treated as the first price when the quantity of items sold during the established time period is between the lower and upper limits and the remaining steps of the method are repeated for a second established time period.

5. The method of claim 4 wherein the second established time period is the same as the first established time period.

6. The method of claim 1 further comprising establishing a second upper limit for the quantity of items sold at the first price, said second upper limit being greater than said first upper limit and wherein said pricing includes setting the second price above the first price if the quantity of items sold during the established time period is above the first established upper limit but below the second established upper limit and setting the second price at higher above the first price if the quantity of items sold during the established time period is above the second established upper limit.

7. The method of claim 1 further comprising receiving one or more second orders for the item at the second price.

8. The method of claim 7 further comprising establishing a lower limit for the quantity of items sold at the first price and wherein said pricing includes setting the second price below the first price if the quantity of items sold during the established time period is below the established lower limit.

9. The method of claim 8 wherein the second price is set equal to the first price if the quantity of items sold during the established time period is between the lower and upper limits.

10. The method of claim 9 wherein the second price is treated as the first price when the quantity of items sold during the established time period is between the lower and upper limits and the remaining steps of the method are repeated for a second established time period.

11. The method of claim 10 wherein the second established time period is the same as the first established time period.

12. The method of claim 7 further comprising establishing a second upper limit for the quantity of items sold at the first price, said second upper limit being greater than said first upper limit and wherein said pricing includes setting the second price above the first price if the quantity of items sold during the established time period is above the first established upper limit but below the second established upper limit and setting the second price at higher above the first price if the quantity of items sold during the established time period is above the second established upper limit.