SYSTEM AND METHOD FOR ENHANCING BUYER AND SELLER INTERACTION DURING A GROUP-BUYING SALE

• US 20110320301A1
• Filed: 09/08/2011
• Published: 12/29/2011
• Est. Priority Date: 06/19/2000
• Status: Abandoned Application

• Current Assignee: Intellectual Ventures Holding 79 LLC (Intellectual Ventures LLC)
• Original Assignee: Kashless Incorporated
• Inventors: Van Horn, Tom, Woodford, Dale A., Halbert, Richard V., Wampler, Kevin Dean
• Application Number:
  US13/227,745
• Publication Number:
  US 20110320301A1
• Time in Patent Office: Days
• US Class Current: 705/26.2
• 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 50/188 Electronic negotiation

Abstract

A method and system are provided that enable buyers and sellers to communicate with each other and to negotiate the purchase terms of featured merchandise in a group-buying opportunity. Sellers and buyers may use various forms of on-line group-buying mechanisms in conjunction with the negotiation features of the invention. Buyers may send various inquiries to sellers regarding merchandise offered for sale through the online group-buying sale. Sellers may respond to buyer questions and queries, and in some instances, sellers may communicate instructions to the on-line group-buying mechanism to alter the course of an on-line group-buying sale in progress, e.g., a further reduction in price. The method and system further provides a mechanism for calculating a demand curve based on received buyer offers and applying the demand curve to an on-line group-buying sale.

Claims

1. A method for determining a flash demand curve for a featured item offered by a seller in an on-line group-buying sale, comprising:

receiving an initial price for the featured item from the seller;

initiating the on-line group-buying sale for the featured item after receiving the initial price from the seller;

receiving offers for the featured item from buyers wherein the received offers include prices equal to or less than the initial price;

constructing the flash demand curve; and

providing the flash demand curve to the seller.

2. The method of claim 1, further comprising:

receiving a modified price for the first featured item from the seller after the flash demand curve has been provided to the seller;

displaying the modified price to the buyers;

receiving offers for the featured item from buyers wherein the received offers include prices equal to or less than the modified price; and

constructing the new flash demand curve; and

providing the new flash demand curve to the seller.

3. The method of claim 2, further comprising receiving an instruction to determine a new flash demand curve.

4. The method of claim 1 wherein the flash demand curve is constructed by plotting received offers on a graph according to price and cumulative number of offers received at or below each price.

5. The method of claim 1, further comprising:

receiving an instruction to determine the flash demand curve after the initiation of the online group-buying sale.