Initial Product Offering System and Method

• US 20110137810A1
• Filed: 02/10/2011
• Published: 06/09/2011
• Est. Priority Date: 08/27/1999
• Status: Abandoned Application

• Current Assignee: Tech Venture Associates Incorporated
• Original Assignee: Tech Venture Associates Incorporated
• Inventors: Vaid, Rahul R.
• Application Number:
  US13/024,757
• Publication Number:
  US 20110137810A1
• Time in Patent Office: Days
• US Class Current: 705/306
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0254 based on statistics
• CPC Class Codes: G06Q 30/0278 Product appraisal
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0605 Supply or demand aggregation
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 50/188 Electronic negotiation

Abstract

A system and method for making an initial product offering of tangible products and services. A price for a product may be determined by calculating an aggregate customer history factor by aggregating customer history factors of potential purchasers in a buying group, calculating a cumulative demand for a product as a function of (i) expected purchase quantities of the product indicated by the potential purchasers in the buying group and (ii) the aggregate customer history factor, and setting a price of the product as a function of the cumulative demand for the buying group. The tangible products and services may be offered at the determined price.

Claims

1. A method for determining a price for a product, said method comprising:

calculating an aggregate customer history factor by aggregating customer history factors of potential purchasers in a buying group, the customer history factors including at least one of the following customer related parameters;

customer rating parameter, customer transaction parameter, customer demographics parameter, customer geo graphics parameter, customer psychographic parameter, and customer behavioral parameter;

calculating a cumulative demand for a product as a function of (i) expected purchase quantities of the product indicated by the potential purchasers in the buying group and (ii) the aggregate customer history factor; and

setting a price of the product as a function of the cumulative demand for the buying group.