Method of buying and selling a promotional product or service

• US 20100262505A1
• Filed: 04/10/2009
• Published: 10/14/2010
• Est. Priority Date: 04/10/2009
• Status: Abandoned Application

• Current Assignee: Jon G. Fields
• Original Assignee: Jon G. Fields
• Inventors: Fields, Jon G.
• Application Number:
  US12/384,925
• Publication Number:
  US 20100262505A1
• Time in Patent Office: Days
• US Class Current: 705/26
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/326 Payment applications installed on the mobile devices
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/08 Auctions

Abstract

A method of buying and selling a promotional product or service is disclosed. The method includes identifying potential buyers who are willing to seek such promotional products or services. Each of the potential buyers having a communication device that is connected to a communication system. Identifying sellers who are willing to offer a promotional product or service and having each input specific information into a computerized database. The computerized database is capable of receiving, storing and distributing selected information, on a real time basis, to the potential buyers when they access the database through their communication devices. The method further includes having the database tabulate the information and generate a report to each of the sellers indicating that a potential buyer accessed the computerized database to review a promotional product or service and recording when a potential buyer is actually bought a promotional product or service from one of the sellers.

Claims

1. A method of buying and selling a promotional product or service, said method comprising the steps of:

a) identifying a potential buyer who is willing to seek a promotional product or service at a price below a regular list price, said potential buyer having a communication device which can be activated;

b) connecting said communication device to a communication system, said communication system controlled by a communication service provider who has contractually agreed with said potential buyer to provide a connection covering a specific geographical area;

c) identifying a seller who is willing to sell a promotional product or service at a price below a regular list price, said seller having contractually agreed with a database owner to input specific information into a computerized database relating to said promotional product or service which is to be offered by said seller, said computerized database capable of receiving and storing said specific information, and distributing select information over said communication system on a real time basis to said potential buyer when prompted by said activated communication device;

d) tabulating information acquired by said computerized database indicating when said potential buyer accessed said computerized database to review said promotional product or service offered by said seller and recording that said potential buyer actually bought said promotional product or service from said seller; and

e) providing said tabulated information to said seller.

2. The method of claim 1 further comprising a plurality of potential buyers, each of said potential buyers having a communication device and each of said potential buyers having contractually agreed with said communication service provider to have said communication device connected to said communication system, and a plurality of sellers, each of said sellers having contractually agreed with said database owner to input specific information into said computerized database relating to said promotional product or service offered by said seller, said multiple potential buyers including both individual and business buyers, and said multiple sellers including individuals, agents, middlemen, wholesalers, retailers, merchants, manufacturers and jobbers.

3. The method of claim 2 further comprising the step of having said communication service provider contract with a credit card company who is capable of issuing a credit card to each of said plurality of potential buyers, said credit card providing a way for each of said potential buyers to purchase said promotional product or service from one of said plurality of sellers at a price below a regular list price.

4. The method of claim 3 further comprising the step of having said credit card company contract with a transaction processor who is capable of processing all financial transactions between each of said plurality of potential buyers and each of said plurality of sellers, said transaction processor reporting each transaction to said credit card company and said credit card company preparing and sending an invoice to each of said potential buyers on a regular basis who has made a purchase of any of said promotional products or services from any of said plurality of sellers, and said credit card company receiving payments from each of said plurality of buyers who has made a purchase and crediting said payment to said seller of said promotional product or service.

5. The method of claim 1 wherein said communication device is a cell phone which is connected to said communication system by a wireless connection.

6. The method of claim 5 further comprising the step of adding a global positioning system and a monitor to said communication device and adding maps and directional information into said computerized database to enable said computerized database to provide said potential buyer with maps and directions from said potential buyer'"'"'s current position to said seller'"'"'s business location when said communication device is activated and connected to said computerized database.

7. The method of claim 1 wherein said potential buyer can review said select information in said computerized database by dialing into said computerized database using said communication device, and said select information includes at least one of the following:

a listing of kinds and types of promotional products or services offered for sale by said seller, a location of said seller'"'"'s business, directions to said seller'"'"'s business from a current location, a time when said seller is open for business, a time zone in which said seller'"'"'s business is located, a listing of credit cards accepted by said seller, a notice of any conditions imposed by said seller which must be met by said potential buyer to qualify for said promotional products or services, a notice of handicap accessibility to said seller'"'"'s business, a notice of a smoking/non-smoking policy at said seller'"'"'s business, and a notice of whether a pet is permitted in said seller'"'"'s business.

8. The method of claim 1 further comprising the step of having said communication service provider supplement said computerized database with a printed publication which provides pertinent information relating to said seller.

9. The method of claim 1 further comprising the step of having said communication service provider supplement said computerized database with additional information relating to said seller through a second communication system which is electronically available to said buyer.

10. A method of buying and selling a promotional product or service, said method comprising the steps of:

a) identifying a plurality of potential buyers each of whom is willing to seek a promotional product or service at a price below a regular list price, each of said potential buyers having a communication device which can be activated;

b) connecting each of said communication devices to a communication system, said communication system controlled by a communication service provider who has contractually agreed with each of said potential buyers to provide a wireless connection covering a specific geographical area;

c) identifying a plurality of sellers each of whom is willing to offer a promotional product or service at a price below a regular list price, each of said sellers having contractually agreed with a database owner to input specific information into a computerized database relating to said promotional product or service which is to be offered by each of said sellers, said computerized database capable of receiving and storing said specific information, and distributing select information over said communication system on a real time basis to each of said potential buyers when prompted by each of said activated communication devices;

d) generating a report from information acquired by said computerized database indicating when each of said potential buyers has accessed said computerized database to review said promotional product or service offered by each of said sellers and reporting that at least one of said potential buyers has actually bought a promotional product or service from one of said sellers;

e) providing said report to each of said sellers on a regular basis; and

f) having said communication service provider supplement said computerized database with a printed publication which provides pertinent information on said sellers to said buyers.

11. The method of claim 10 further comprising the step of having each of said sellers input specific information into said computerized database on a current promotional product or service using the Internet.

12. The method of claim 10 further comprising the step of having said communication service provider contract with a credit card company who is capable of issuing a credit card to each of said potential buyers, said credit card allowing each of said potential buyers to purchase a promotional product or service from one of said sellers at a price below a regular list price, and said credit card company contracts with a transaction processing company who is capable of processing all financial transactions between each of said buyers and each of said sellers, said credit card company preparing and sending an invoice to each of said buyers on a regular basis for all purchases of said promotional products or services from each of said sellers, crediting each of said sellers with a payment for products or services sold, and receiving payments from each of said buyers.

13. The method of claim 12 further comprising the step of having said credit card company generate a report to said communication service provider, to said computerized database owner and to each of said sellers on a regular basis for all purchases of said promotional products or services involving one of said issued credit cards, and distributing appropriate moneys to said communication service provider and to said computerized database owner for connections made to said computerized database using said communication system and to each of said sellers for each actual purchase of one of said promotional products or services made.

14. The method of claim 10 further comprising the step of adding a global positioning system and a monitor to each of said communication devices and adding maps and directional information into said computerized database to enable said computerized database to provide each of said potential buyers with maps and directions from a location where a potential buyer is to one of said seller'"'"'s business locations when said communication device is activated and connected to said computerized database.

15. The method of claim 10 wherein said communication device is a smart cell phone which is connected to said communication system by a wireless connection.

16. A method of buying and selling a promotional product or service, said method comprising the steps of:

a) identifying a plurality of potential buyers each of whom is willing to seek a promotional product or service at a price below a regular list price, each of said potential buyers having a communication device which can be activated at a predetermined time;

b) connecting each of said communication devices to a communication system, said communication system controlled by a communication service provider who has contractually agreed with each of said potential buyers to provide a wireless connection covering a specific geographical area;

c) identifying a plurality of sellers each of whom is willing to offer a promotional product or service at a price below a regular list price, each of said sellers having contractually agreed with a database owner to input specific information into a computerized database relating to said promotional product or service offered by each of said sellers, said computerized database capable of receiving and storing said specific information, and distributing select information over said communication system on a real time basis to each of said potential buyers when prompted by said activated communication device;

d) having said communication service provider contract with a credit card company who is capable of issuing a credit card to each of said buyers, said credit card allowing each of said buyers to purchase said promotional products or services from each of said sellers at a price below regular list price, and said credit card company contracts with a transaction processing company who is capable of processing all financial transactions between each of said buyers and each of said sellers, said credit card company preparing and sending an invoice to each of said buyers on a regular basis for all purchases of said promotional products or services from each of said sellers, receiving payments from each of said buyers and crediting each of said sellers with corresponding payments;

e) generating a report from information acquired by said computerized database indicating when each of said potential buyers has accessed said computerized database to review said promotional product or service offered by each of said sellers and reporting that at least one of said potential buyers has actually bought a promotional product or service from one of said sellers;

f) printing said report;

g) making said printed report available to each of said sellers on a regular basis; and

h) having said communication service provider supplement said computerized database with a second communication system which provides pertinent information on said sellers to said buyers.

17. The method of claim 16 wherein each of said potential buyers activates and connects his communication device to said communication system, and accesses said computerized database by making entries using a keyboard, by clicking on prearranged menus or by voice recognition.

18. The method of claim 16 further comprising the step of supplementing each of said reports with additional information advising each of said sellers how to improve future promotional product or service offerings so as to increase potential sales.

19. The method of claim 16 further comprising the step of rewarding each of said buyers with a predetermined number of points based upon the dollar amount of purchases made by each of said buyers, and said points being redeemable for cash, products or services available from any one of said sellers.

20. The method of claim 16 further comprising the step of having said computerized database generate a specialized report from information it acquires, said specialized report indicating how each of said sellers could possibly increase sales by tailoring each of said seller'"'"'s future offers for a promotional product or service to align with current buying habits and trends of each of said buyers, and making said specialized report available to each of said sellers.