COMPETITIVE PRICE ALERT SYSTEM WITH COMPETITIVE PRICE RULES ENGINE

• US 20140136278A1
• Filed: 03/15/2013
• Published: 05/15/2014
• Est. Priority Date: 11/15/2012
• Status: Abandoned Application

• Current Assignee: Home Depot Product Authority, LLC (The Home Depot, Inc.)
• Original Assignee: Homer TLC Incorporated (The Home Depot, Inc.)
• Inventors: Carvalho, Rodrigo Pierzchalski
• Application Number:
  US13/841,136
• Publication Number:
  US 20140136278A1
• Time in Patent Office: Days
• US Class Current: 705/7.29
• CPC Class Codes: G06Q 30/0201 Market modelling; Market analysis; Collecting market data
• CPC Class Codes: G06Q 30/0629 for generating comparisons

Abstract

Price alerts relating to competitor products are transmitted to a user. A user provides product information, which is used to generate a product set. The products in the product set are used to generate a competitor set, which includes competitors that offer products in the product set. A rule set is generated that includes rules applied to the products and the competitors. A search is performed for the products against the competitors to determine if a rule has been broken. If so, an alert is transmitted to the user. In some implementations, instructions are also transmitted to correct the broken rule. Steps to correct the broken rule may include lowering the price offered by the user for the product.

Claims

1. A method for providing competitive price alerts, the method comprising:

generating a product set from product information received from a user;

generating a competitor set, the competitor set comprising at least one competitor offering at least one product in the product set;

generating a rule set, the rule set comprising at least one rule applied to the at least one product and the at least one competitor;

searching the at least one product against the at least one competitor to determine if the at least one rule has been broken; and

transmitting an alert in response to determining the at least one rule has been broken.

2. The method of claim 1, wherein determining if the at least one rule has been broken comprises:

comparing a price offered by the user for the at least one product to a price offered by the at least on competitor for the at least one product; and

based on the comparison, determining if a condition of the rule is not satisfied.

3. The method of claim 2, wherein determining if a condition of the rule is not satisfied comprises:

determining if a difference in price offered by the user and price offered by the at least one competitor is greater than a threshold value.

4. The method of claim 2, wherein the condition of the rule comprises at least one of:

absolute difference in price offered by the user and price offered by the at least one competitor;

percentage of difference in price offered by the user and price offered by the at least one competitor;

or

gross margin difference in price offered by the user and price offered by the at least one competitor.

5. The method of claim 1, further comprising:

prioritizing rules comprising the rule set;

wherein transmitting an alert in response to determining the at least one rule has been broken comprises transmitting an alert that the highest priority rule has been broken.

6. The method of claim 1, wherein the at least one rule comprises:

a price rule generated from pricing information received from a user;

wherein transmitting an alert in response to determining the at least one rule has been broken comprises transmitting an alert in response to determining the price rule has been broken.

7. The method of claim 1, wherein the rule set comprises:

a prioritized set of price rules;

wherein transmitting an alert in response to determining the at least one rule has been broken comprises transmitting an alert that the highest priority price rule has been broken.

8. The method of claim 1, further comprising:

generating a recommendation to correct the at least one broken rule.

9. The method of claim 8, wherein generating a recommendation to correct the at least one broken rule comprises:

generating a recommendation to lower the price of the at least one product.

10. The method of claim 1, further comprising:

receiving instructions to modify the competitor set, the instructions comprising an instruction to prioritize competitors.

11. The method of claim 1, further comprising:

receiving instructions to modify the competitor set, the instructions comprising an instruction to prioritize competitors in the competitor set.

12. A system for providing competitive price alerts, the system comprising:

a memory; and

a processor, the processor configured to;

generate a product set from product information received from a user;

generate a competitor set, the competitor set comprising at least one competitor offering at least one product in the product set;

generate a rule set, the rule set comprising at least one rule applied to the at least one product and the at least one competitor;

search the at least one product against the at least one competitor to determine if the at least one rule has been broken; and

transmit an alert in response to determining the at least one rule has been broken.

13. The system of claim 12, wherein the processor is further configured to:

compare a price offered by the user for the at least one product to a price offered by the at least on competitor for the at least one product; and

based on the comparison, determine if a condition of the rule is not satisfied.

14. The system of claim 13, wherein the processor is further configured to:

determine if a difference in price offered by the user and price offered by the at least one competitor is greater than a threshold value.

15. The system of claim 13, wherein the condition of the rule comprises at least one of:

absolute difference in price offered by the user and price offered by the at least one competitor;

percentage of difference in price offered by the user and price offered by the at least one competitor;

or

gross margin difference in price offered by the user and price offered by the at least one competitor.

16. The system of claim 12, wherein the processor is further configured to:

prioritize rules comprising the rule set;

wherein transmitting an alert in response to determining the at least one rule has been broken comprises transmitting an alert that the highest priority rule has been broken.

17. The system of claim 12, wherein the processor is further configured to:

generate a price rule from pricing information received from a user;

wherein transmitting an alert in response to determining the at least one rule has been broken comprises transmitting an alert in response to determining the price rule has been broken.

18. The system of claim 12, wherein the processor is further configured to:

prioritize a set of price rules comprising the rule set;

wherein transmitting an alert in response to determining the at least one rule has been broken comprises transmitting an alert that the highest priority price rule has been broken.

19. The system of claim 12, wherein the processor is further configured to:

generate a recommendation to correct the at least one broken rule.

20. The system of claim 19, wherein the processor is further configured to:

generate a recommendation to lower the price of the at least one product.

21. The system of claim 12, wherein the processor is further configured to:

receive instructions to modify the competitor set, the instructions comprising an instruction to prioritize competitors.

22. The system of claim 12, wherein the processor is further configured to:

receive instructions to modify the competitor set, the instructions comprising an instruction to prioritize competitors in the competitor set.