System and method for accelerating convergence between buyers and sellers of products

• US 20090240629A1
• Filed: 03/20/2009
• Published: 09/24/2009
• Est. Priority Date: 03/21/2008
• Status: Abandoned Application

• Current Assignee: Buyerconverge.Com, LLC
• Original Assignee: Buyerconverge.Com, LLC
• Inventors: Zhu, Shuyi, Xie, Jie
• Application Number:
  US12/383,176
• Publication Number:
  US 20090240629A1
• Time in Patent Office: Days
• US Class Current: 705/80
• 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 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 50/188 Electronic negotiation

Abstract

A system and method for reducing the distance of the understanding and expectation between a buyer and seller for a price of a particular product that is offered for sale. The system and method permit buyer to use their volume purchase power to lower the price of demanded product, and pay only the fair market value of the product in that the price is much lower than the price expectation or requirement of the buyer. Conversely, the system and method permit sellers to reach a targeted market in which a group of buyers are available for desired product. The seller is provided with the benefits associated with low cost competition by reducing the distribution cost and increasing the operation efficiency, such as increased inventory turnover rate, based on the advantages associated with volume sales.

Claims

1. A method for reducing a distance between an understanding and an expectation of a buyer and seller for a price of a particular product that is offered for sale, comprising:

initiating, at a direct sale module of an application server, a competitive bidding process among sellers for a right to upload the particular product to a database for sale, said product descriptions having a minimum required price;

uploading the particular product to the database from the seller which won the competitive bidding process to the right to upload the particular product;

receiving purchase offers from buyers for the uploaded particular product at the direct sale module of the application server; and

providing the particular product to the buyer via the direct sale module of the application server based on a purchase offer equaling the minimum required price for the particular product.

2. The method of claim 1, wherein the minimum required price is a “

Buy Now”

price which is displayed to buyers at a website.

3. The method of claim 1, further comprising:

accumulating, at an auction sale module of the application server, purchase offers from buyers if the purchase offers are less than the minimum required price for the particular product, the purchase offers being accumulated and grouped as a price range in a price stack of the auction sale module, the price range being adjustable in accordance with a price level of the particular product and a distance between the expectation of buyers;

monitoring purchase offers from the buyers at the auction sale module of the application server to determine a level of demand for the particular product;

adjusting a time interval of an auction window at the application server based on the level of demand for the particular product; and

providing an auction result to buyers to permit the buyers to provide revised purchase offers for the particular product.

4. The method of claim 3, further comprising:

receiving, at the application server, a maximum price offer that a buyer is willing to pay for the particular product; and

receiving at least one of a time period in which the maximum price offer should remain valid, a notification method and a frequency that the buyer will be informed of an auction result.

5. The method of claim 4, wherein the frequency is one of after every deal, every day and every two days.

6. The method of claim 4, further comprising:

receiving from the buyer adjustments of the maximum purchase price offer according to a market response to the maximum purchase price offer that the buyer is willing to pay and a number of buyers available on each price range for the particular product.

7. A method for reducing a distance between an understanding and an expectation of a buyer and seller for a price of a particular product that is offered for sale, comprising:

accumulating, at an auction sale module of an application server, purchase offers from buyers which are less than a minimum required price for the particular product, the purchase offers being accumulated and grouped as a price range in a price stack of the auction sale module, the price range being adjustable in accordance with a price level of the particular product and a distance between the expectation of buyers;

monitoring purchase offers from the buyers at the auction sale module of the application server to determine a level of demand for the particular product;

adjusting a time interval of an auction window at the application server based on the level of demand for the particular product; and

providing an auction result to buyers to permit the buyers to provide revised purchase offers for the particular product.

8. The method of claim 7, further comprising:

receiving, at the application server, a maximum price offer that a buyer is willing to pay for the particular product; and

receiving at least one of a time period in which the maximum price offer should remain valid, a notification method and a frequency that the buyer will be informed of an auction result.

9. The method claim 7, further comprising:

sending invitations from a buyer to other buyers to purchase the particular product and augment a bargaining position of the buyer during an offering process.

10. The method of claim 7, wherein the price stack comprises a composite of different price ranges for the particular product, wherein a group of buyers is associated with each price range.

11. The method of claim 7, wherein the price stack is dynamic such that current market conditions are reflected to indicate demand from buyers on each price range, said price stack only being visible to the sellers.

12. The method of claim 7, wherein the sellers are provided with an auction window that is a function of the auction sale module such that sellers obtain price information of the buyers comprising a stack of different price ranges for the same particular product having a group buyer associated with each price range.

13. The method of claim 7, wherein the price stack becomes unchanged when the auction window is opened.

14. The method of claim 13, wherein the time interval of the auction window is adjusted for each particular product based on a number of available buyers and sellers.

15. The method of claim 7, further comprising:

adjusting the time interval of the auction window to a shorter interval for an active market; and

adjusting the time interval of the auction window to a longer interval for a slower market.

16. The method of claim 7, further comprising:

receiving adjusted minimum prices from the sellers at the application server based on counter offers from the buyers and bidding prices from other sellers for the particular product.

17. An application server configured to reduce a distance between an understanding and an expectation of a buyer and seller for a price of a particular product that is offered for sale, the application server comprising:

a direct sale module configured to initiate a competitive bidding process among sellers for a right to upload the particular product to a database for sale, said product descriptions having a minimum required price;

wherein the direct sale module is additionally configured to receive purchase offers from buyers for the particular product uploaded to the database and provide the particular product to a buyer based on a purchase offer equaling the minimum required price for the particular product.

18. The application server of claim 17, wherein the minimum required price is a “

Buy Now”

price which is displayed to buyers at a website.

19. An application server configured to reduce a distance between an understanding and an expectation of a buyer and seller for a price of a particular product that is offered for sale, the application server comprising:

an auction sale module configured to accumulate purchase offers from buyers which are less than a minimum required price for the particular product, the purchase offers being accumulated and grouped as a price range in a price stack of the auction sale module, the price range being adjustable in accordance with a price level of the particular product and a distance between the expectation of buyers;

wherein the auction sale module is additionally configured to monitor purchase offers from the buyers to determine a level of demand for the particular product, adjust a time interval of an auction window based on the level of demand for the particular product and provide an auction result to buyers to permit the buyers to provide revised purchase offers for the particular product.

20. The application server of claim 19, wherein a maximum price offer that the buyer is willing to pay for the particular product, and at least one of a time period in which the maximum price offer should remain valid, a notification method and a frequency that the buyer will be informed of an auction result are received at the application server.

21. The application server of claim 20, wherein the frequency is one of after every deal, every day and every two days.

22. The application server of claim 19, wherein the price stack comprises a composite of different price ranges for the particular product, wherein a group of buyers is associated with each price range.

23. The application server of claim 19, wherein the price stack is dynamic such that current market conditions are reflected to indicate demand from buyers on each price range, said price stack only being visible to the sellers.