SYSTEM AND METHOD FOR TIERED OFFER FORECASTING
First Claim
1. A method of forecasting sales of a product in a tiered offer comprising:
- receiving, at a computing system, purchase records for said product, each of said purchase records including a basket count and a unit price, said a basket count identifying a quantity of said product purchased, and said unit price identifying a purchase cost for said product;
receiving, at said computing system, tiered offer pricing for said tiered offer, said tiered offer pricing including a first offer price for said product at a first tier, a second offer price for said product at a second tier, and a tier breakpoint differentiating said first tier from said second tier;
ascertaining consumer acceptance of said first offer price at said first tier and said second offer price at said second tier using said basket count and said unit price included in said each of said purchase records;
utilizing said consumer acceptance to forecast a first quantity of sales of said product at said first offer price and to forecast a second quantity of said sales of said product at said second offer price; and
providing, from said computing system, said forecast first quantity of said sales of said product at said first offer price and said forecast second quantity of said sales of said product at said second offer price to a user for implementation in said tiered offer.
3 Assignments
0 Petitions
Accused Products
Abstract
A tiered offer forecasting process is performed on a system executing code contained on a computer-readable storage medium. The process includes receiving purchase records for a product, each of the purchase records including a basket count identifying a quantity of the product purchased and a unit price identifying a purchase cost for the product. Pricing for a tiered offer is received. The pricing includes a first offer price for the product at a first tier, a second offer price for the product at a second tier, and a tier breakpoint differentiating the first tier from the second tier. Consumer acceptance of each of the first and second offer prices is ascertained. The consumer acceptance is utilized to forecast quantities of sales of the product at each of the first and second offer prices. This forecast of sales is provided to a user for implementation in the tiered offer.
14 Citations
20 Claims
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1. A method of forecasting sales of a product in a tiered offer comprising:
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receiving, at a computing system, purchase records for said product, each of said purchase records including a basket count and a unit price, said a basket count identifying a quantity of said product purchased, and said unit price identifying a purchase cost for said product; receiving, at said computing system, tiered offer pricing for said tiered offer, said tiered offer pricing including a first offer price for said product at a first tier, a second offer price for said product at a second tier, and a tier breakpoint differentiating said first tier from said second tier; ascertaining consumer acceptance of said first offer price at said first tier and said second offer price at said second tier using said basket count and said unit price included in said each of said purchase records; utilizing said consumer acceptance to forecast a first quantity of sales of said product at said first offer price and to forecast a second quantity of said sales of said product at said second offer price; and providing, from said computing system, said forecast first quantity of said sales of said product at said first offer price and said forecast second quantity of said sales of said product at said second offer price to a user for implementation in said tiered offer. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11)
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12. A system for forecasting sales of a product in a tiered offer comprising:
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a processor; a computer-readable storage medium; and executable code recorded on said computer-readable storage medium for instructing said processor to perform operations comprising; receiving purchase records for said product, each of said purchase records including a basket count and a unit price, said a basket count identifying a quantity of said product purchased, and said unit price identifying a purchase cost for said product; for each said basket count, computing a frequency of said purchase records containing said quantity of said product purchased; for said each said basket count, computing an average unit price for said product from said unit price; receiving, at said computing system, tiered offer pricing for said tiered offer, said tiered offer pricing including a first offer price for said product at a first tier, a second offer price for said product at a second tier, and a tier breakpoint differentiating said first tier from said second tier; ascertaining consumer acceptance of said first offer price at said first tier and said second offer price at said second tier using said frequency and said basket count, said ascertaining operation including determining an acceptance rate value, said acceptance rate value defining said consumer acceptance as a proportion of consumers willing to purchase said product at said second offer price for said second tier; utilizing said consumer acceptance to forecast a first quantity of sales of said product at said first offer price and to forecast a second quantity of said sales of said product at said second offer price; and providing, from said system, said forecast first quantity of said sales of said product at said first offer price and said forecast second quantity of said sales of said product at said second offer price to a user for implementation in said tiered offer. - View Dependent Claims (13, 14, 15, 16)
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17. A computer-readable storage medium containing executable code for forecasting sales of a product in a tiered offer, said executable code instructing a processor to perform operations comprising:
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receiving purchase records for said product, each of said purchase records including a basket count and a unit price, said a basket count identifying a quantity of said product purchased, and said unit price identifying a purchase cost for said product; for each said basket count, computing a frequency of said purchase records containing said quantity of said product purchased; for said each said basket count, computing an average unit price for said product from said unit price, receiving tiered offer pricing for said tiered offer, said tiered offer pricing including a first offer price for said product at a first tier, a second offer price for said product at a second tier, and a tier breakpoint differentiating said first tier from said second tier, said tier breakpoint defining a minimum basket count value for said second tier; ascertaining consumer acceptance of said first offer price at said first tier and said second offer price at said second tier using said frequency and said average unit price, said ascertaining operation including; computing an offer incentive value relative to said first and second offer prices, said offer incentive value indicating a monetary incentive for purchasing said product at said second offer price relative to said first offer price; determining, from said purchase records, a first incentive value that defines a frequency at which consumers purchased at least said minimum basket count value of said product; identifying a second incentive value that defines a point at which an additional one of said product can be purchased for no additional cost to said consumers at said second offer price; establishing an incentive curve that intersects each of said first and second incentive values; and utilizing said offer incentive and said incentive curve to ascertain said consumer acceptance; utilizing said consumer acceptance to forecast a first quantity of sales of said product at said first offer price and to forecast a second quantity of said sales of said product at said second offer price; and providing, from said computing system, said forecast first quantity of said sales of said product at said first offer price and said forecast second quantity of said sales of said product at said second offer price to a user for implementation in said tiered offer. - View Dependent Claims (18, 19, 20)
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Specification