DIGITAL ONLINE EXCHANGE FOR PRICING ITEMS TO EXHAUST INVENTORY BY AN EXPIRATION TIME
First Claim
1. A dynamic pricing system for pricing items for sale by a seller which items are available in limited quantity, the system comprising:
- a pricing server including a memory, a processor, and a clock;
data stored in the memory indicative of a previous quantity of items available in a limited quantity;
data stored in the memory indicative of a current remaining quantity of the items available in a limited quantity;
data stored in the memory of an expiration time at which it is desired that all of the items available in a limited quantity be sold; and
wherein the processor is configured to control a rate of sale in order to sell out the items available in a limited quantity by the expiration time and to price the items available in a limited quantity so as to deplete an inventory of the items available in a limited quantity by the expiration time based in part by accessing the memory to retrieve data indicative of the previous quantity, the current remaining quantity, and the expiration time and accessing the clock.
2 Assignments
0 Petitions
Accused Products
Abstract
A dynamic pricing system for pricing items for sale by a seller which items are available in a limited quantity comprises a pricing server and various types of data stored in memory. The pricing server includes memory, a processor and a clock. Types of data stored in memory are indicative of the initial quantity of an item available and an expiration time. The processor is configured to control a rate of sale in order to sell out the items available in a limited quantity by the expiration time and to price the items available in a limited quantity so as to deplete an inventory of the items available in a limited quantity by the expiration time.
17 Citations
18 Claims
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1. A dynamic pricing system for pricing items for sale by a seller which items are available in limited quantity, the system comprising:
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a pricing server including a memory, a processor, and a clock; data stored in the memory indicative of a previous quantity of items available in a limited quantity; data stored in the memory indicative of a current remaining quantity of the items available in a limited quantity; data stored in the memory of an expiration time at which it is desired that all of the items available in a limited quantity be sold; and wherein the processor is configured to control a rate of sale in order to sell out the items available in a limited quantity by the expiration time and to price the items available in a limited quantity so as to deplete an inventory of the items available in a limited quantity by the expiration time based in part by accessing the memory to retrieve data indicative of the previous quantity, the current remaining quantity, and the expiration time and accessing the clock. - View Dependent Claims (2, 3, 4, 5, 6)
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7. A dynamic pricing system for pricing items for sale by a seller which items are available in limited quantity, the system comprising:
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a pricing server including a memory, a processor, and a clock; data stored in the memory indicative of a previous quantity of items available in a limited quantity; data stored in the memory indicative of a current remaining quantity of the items available in a limited quantity; data stored in the memory of an expiration time at which it is desired that all of the items available in a limited quantity be sold; and wherein the processor is configured to control a rate of sale in order to maximize revenue for the items available in a limited quantity by the expiration time and to price the items available in a limited quantity so as to maximize revenue of the items available in a limited quantity by the expiration time based in part by accessing the memory to retrieve data indicative of the current rate of sale, the current remaining quantity, and the expiration time and accessing the clock. - View Dependent Claims (8, 9, 10, 11, 12)
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13. A dynamic pricing system for pricing items for sale by a seller which items are available in limited quantity, the system comprising:
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a pricing server including a memory, a processor, and a clock; data stored in the memory indicative of a current rate of sale of items available in a limited quantity; data stored in the memory indicative of a current remaining quantity of the items available in a limited quantity; data stored in the memory of an expiration time at which it is desired that all of the items available in a limited quantity be sold; and wherein the processor is configured to control a rate of sale in order to sell out the items available in a limited quantity by the expiration time and to price the items available in a limited quantity so as to deplete an inventory of the items available in a limited quantity by the expiration time based in part by accessing the memory to retrieve data indicative of the current rate of sale, the current remaining quantity, and the expiration time and accessing the clock. - View Dependent Claims (14, 15, 16, 17, 18)
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Specification