System and Method of Driving Commodity Consumers to Selective Retail Locations

• US 20080306821A1
• Filed: 02/12/2008
• Published: 12/11/2008
• Est. Priority Date: 02/12/2007
• Status: Abandoned Application

• Current Assignee: Pricelock, Inc.
• Original Assignee: Pricelock, Inc.
• Inventors: Painter, Scott, Fell, Robert M., Bonsignore, Michael R., Magnuson, Gary A., Reed, Brian P.
• Application Number:
  US12/030,032
• Publication Number:
  US 20080306821A1
• Time in Patent Office: Days
• US Class Current: 705/14
• 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 30/0239 Online discounts or incentives
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions

Abstract

A system and method for driving commodity consumers to selective locations allows an operator of a price protection product to enter into agreements with locations offering a commodity such that the locations provide incentives for purchasers or consumers of the commodity to purchase the commodity at the location. The operator of the price protection system may enter into agreements with purchasers to provide information about the locations offering the incentives.

Claims

1. A method for driving commodity price protection consumers to commodity retail locations, comprising:

identifying a plurality of locations offering a commodity within a geographic boundary;

selecting at least one location from the plurality of locations offering the commodity within the geographic boundary; and

communicating information about the at least one location selected from the plurality of locations offering the commodity within the geographic boundary to a consumer of a price protection product associated with the commodity.

2. The method of claim 1, further comprising:

providing the information about the at least one location selected from the plurality of locations offering the commodity within the geographic boundary to the consumer via a Website or portal maintained by a provider of the price protection product associated with the commodity.

3. The method of claim 1, wherein the price protection product associated with the commodity enables the consumer to purchase a quantity of the commodity at a first price that is different from a second price for the commodity at the at least one location.

4. The method of claim 3, wherein the second price for the commodity at the at least one location is lower than an index price for the commodity.

5. The method of claim 3, wherein the second price for the commodity at the at least one location is same or lower than retail prices for the commodity at other locations within geographic boundary.

6. The method of claim 1, wherein selecting the at least one location from the plurality of locations offering the commodity within the geographic boundary comprises determining whether the at least one location has an agreement with a provider of the price protection product associated with the commodity.

7. The method of claim 1, wherein selecting the at least one location from the plurality of locations offering the commodity within the geographic boundary comprises comparing retail prices for the commodity at the one or more locations.

8. The method of claim 1, wherein selecting the at least one location from the plurality of locations offering the commodity within the geographic boundary comprises comparing the plurality of locations based on a plurality of criteria and wherein the plurality of criteria includes location information and services information corresponding to each of the plurality of locations.

9. The method of claim 1, further comprising filtering the plurality of locations within the geographic boundary.

10. The method of claim 9, wherein filtering the plurality of locations within the geographic boundary comprises:

determining a threshold value for the commodity; and

identifying locations that meet the threshold value.

11. The method of claim 1, wherein the information about the at least one location comprises location information, distance to a point of interest, retail price per unit of the commodity, savings per unit of the commodity, and services offered at the at least one location.

12. The method of claim 1, further comprising providing an incentive to the consumer of the price protection product to purchase the commodity at the at least one location.

13. A system, comprising:

a provider of a price protection product for a commodity;

a plurality of locations communicatively coupled to the provider, wherein the plurality of locations offer the commodity within a geographic boundary;

a database communicatively coupled to the provider for maintaining information about the plurality of locations;

a processor,

a computer-readable medium carrying program instructions executable by the processor to perform;

selecting at least one location from the plurality of locations offering the commodity within the geographic boundary; and

a communications device for communicating information about the at least one location to a consumer of the price protection product for the commodity.

14. The system of claim 13, wherein the at least one location comprises an affinity partner.

15. The system of claim 13, wherein the at least one location comprises a preferred provider.

16. A computer-readable medium carrying program instructions executable by a processor to perform:

identifying a plurality of locations offering a commodity within a geographic boundary;

selecting at least one location from the plurality of locations offering the commodity within the geographic boundary; and

communicating information about the at least one location selected from the plurality of locations offering the commodity within the geographic boundary to a consumer of a price protection product associated with the commodity.

17. The computer-readable medium of claim 16 carrying program instructions operable to provide the information about the at least one location selected from the plurality of locations offering the commodity within the geographic boundary to the consumer via a Website or portal maintained by a provider of the price protection product associated with the commodity.

18. The computer-readable medium of claim 16 carrying program instructions operable to filter the one or more locations within the geographic boundary.

19. The computer-readable medium of claim 18 carrying program instructions operable to:

determine a threshold value for the commodity; and

identify locations that meet the threshold value.

20. The computer-readable medium of claim 16 carrying program instructions operable to communicate an incentive to the consumer of the price protection product to purchase the commodity at the at least one location.