Dynamic market equilibrium management system, process and article of manufacture

• US 6,101,484 A
• Filed: 03/31/1999
• Issued: 08/08/2000
• Est. Priority Date: 03/31/1999
• Status: Expired due to Term

• Current Assignee: Fintegraph, LLC (Ascend Innovation Management, LLC)
• Original Assignee: Mercata, Inc.
• Inventors: Halbert, Richard V., Thrun, John M., Gustafsson, Niklas
• Primary Examiner(s): THOMPSON JR, FOREST
• Assistant Examiner(s): THOMPSON JR, FOREST
• Application Number:
  US09/281,859
• Time in Patent Office: 496 Days
• Field of Search: 705/26, 705/35
• US Class Current: 705/26.2
• CPC Class Codes: G06Q 10/109 Time management, e.g. calendars, reminders, meetings or time accounting
• CPC Class Codes: G06Q 30/0605 Supply or demand aggregation
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

A dynamic market equilibrium management system is especially adapted for the sale of goods and services through an online buying group (referred to herein as a "co-op`) formed for the specific purpose of purchasing a particular product at (102) by defining a start time, end time, critical mass, any minimum number of units offered, any maximum number of units offered, starting price and product cost curve. As data is gathered from buyers, by means of their making binding purchase offers, the co-op is modified at (108) using the market equilibrium manager, so as to take into account market forces such as supply and demand for the item to be sold and their interrelationship with the purchase price for such item. When used with the online buying group, the dynamic market equilibrium management system permits dynamic, real time yield management decisions based on true market data. A graphical user interface receives user inputs for directly manipulating graphical display of data from a database on a display device and displays feedback dependent variable data on the display device, such as in the form of a changed numerical value in response to the user moving at least one data point in the graphical display.

Claims

1. A system for modifying a price curve and approaching market equilibrium in an on-line buying co-op for a product, which comprises:

(a) an e-commerce server data processing system, said e-commerce server data processing system including e-commerce server software executable on said e-commerce server data processing system and configured to define an on-line buying co-op for a product;

(b) a storage device coupled to said e-commerce server data processing system and having stored therein a database including at least price data for the product, quantity data for the product and offer data; and

(c) a merchandising staff client data processing system coupled to said storage device, said merchandising staff client data processing system including client software executable on said merchandising staff client data processing system and configured to receive merchandising staff inputs for defining the on-line buying co-op for the product, said client software including a market equilibrium manager to modify a price curve for the product in the on-line buying co-op by utilizing the price data for the product, the quantity data for the product and the offer data in said database.

2. The system for modifying a price curve and approaching market equilibrium in an on-line buying co-op for a product of claim 1 in which said client software is further configured by including data entry tools to establish a start time and an end time for the on-line buying co-op, at least minimum quantities of the product offered and a starting price for the product.

3. The system for modifying a price curve and approaching market equilibrium in an on-line buying co-op for a product of claim 2 in which said client software is further configured by including a display component configured to manipulate and display data associated with the on-line buying co-op on said merchandising staff client data processing system.

4. The system for modifying a price curve and approaching market equilibrium in an on-line buying co-op for a product of claim 3 in which said e-commerce server software is further configured to store price and quanitty data of offer inputs from buyers as the offer data in said database and said market equilibrium manager is further configured to obtain updated price data and the offer data from said database, said display component being configured to display the price curve, and offer histogram, and other information suggesting the price point at which market equilibrium is achieved.

5. The system for modifying a price curve and spproaching market equilibrium in an on-line buying co-op for a product of claim 4 in which said display component is further configured to allow merchandising staff inputs to modify the price curve by direct manipulation of the price curve display.

6. The system for modifying a price curve and approaching market equilibrium in an on-line buying co-op for a product of claim 5 in which said client software is configured to translate the modified price curve to data with a data format for storage in said database.

7. The system for modifying a price curve and approaching market equilibrium in an on-line buying co-op for a product of claim 6 in which said display component is further configured to display a yield amount from sale of the product based on data from said database.

8. The system for modifying a price curve and approaching market equilibrium in an on-line buying co-op for a product of claim 7 in which said display component is further configured to modify the displayed yield amount from sale of the product as the price curve is modified.

9. A process for modifying a price curve and approaching market equilibrium in an on-line buying co-op for a product, which comprises:

(a) defining an on-line buying co-op for a product;

(b) storing in a storage device a database including at least price and quantity data for the product;

(c) accepting inputs from prospective buyers in the form of offers for the product;

(d) using the inputs from the prospective buyers to modify the database; and

(e) receiving merchandising staff inputs utilizing a market equilibrium manager to modify a price curve for the product in the on-line buying co-op by utilizing the price and quantity data for the product in the database and the inputs from the prospective buyers.

10. The process for modifying a price curve and approaching market equilibrium in an on-line buying coop for a product of claim 9 in which the on-line buying co-op is defined by using data entry tools to establish a start time and an end time for the on-line buying co-op, at least minimum quantities of the product offered and a starting price for the product.

11. The process for modifying a price curve and approaching market equilibrium in an on-line buying co-op for a product of claim 10 further comprising the step of:

(f) managing, adjusting and displaying data associated with the on-line buying co-op.

12. The process for modifying a price curve and approaching market equilibrium in an on-line buying co-op for a product of claim 11 further comprising the step of:

(g) obtaining updated price data and offer data from the database and displaying the price curve and an offer histogram.

13. The process for modifying a price curve and approaching market equilibrium in an on-line buying co-op for a product of claim 12 further comprising the step of:

(h) receiving merchandising staff inputs to modify the price curve display by direct manipulation of the price curve display.

14. The process for modifying a price curve and approaching market equilibrium in an on-line buying co-op for a product of claim 13 further comprising the step of:

(i) translating the modified price curve to data with a data format for storage in the database.

15. The process for modifying a price curve and approaching market equilibrium in an on-line buying co-op for a product of claim 14 additionally comprising the step of:

(j) displaying a yield amount from sale of the product based on data from the database.

16. The process for modifying a price curve and approaching market equilibrium in an on-line buying co-op for a product of claim 15 additionally comprising the step of:

(k) modifying the displayed yield amount from sale of the product as the price curve is modified.

17. An article of manufacture, which comprises a computer readable medium having stored therein a computer program for modifying a price curve and approaching market equilibrium in an on-line buying co-op for a product, the computer program comprising:

(a) a first code segment which, when executed on a computer, defines an on-line buying co-op for a product;

(b) a second code segment which, when executed on a computer, stores in a storage device a database including at least price and quantity data for the product;

(c) a third code segment which, when executed on a computer, accepts inputs from prospective buyers in the form of offers for the product;

(d) a fourth code segment which, when executed on a computer, uses the inputs from the prospective buyers to modify the database; and

(e) a fifth code segment which, when executed on a computer, receives merchandising staff inputs utilizing a market equilibrium manager to modify a price curve and approach market equilibrium for the product in the on-line buying co-op by utilizing the price and quantity data for the product in the database and the inputs from the prospective buyers.

18. The article of manufacture of claim 17 in which the first code segment includes code for receiving merchandising staff inputs for defining the buying co-op for the product.

19. The article of manufacture of claim 18 in which the first code segment is configured to define the buying co-op for the product by establishing a start time and an end time for the buying co-op, at least minimum quantities of the product offered and a starting price for the product.

20. The article of manufacture of claim 19 in which the computer program additionally comprises:

(f) a sixth code segment for manipulating and displaying data associated with the on-line buying co-op.

21. The article of manufacture of claim 20 in which the computer program additionally comprises:

(g) a seventh code segment for obtaining updated price data and the offers from the database and displaying the price curve and an offer histogram.

22. The article of manufacture of claim 21 in which the computer program further comprises:

(h) an eighth code segment for receiving merchandising staff inputs to modify the price curve display by direct manipulation of the price curve display.

23. The article of manufacture of claim 22 in which the computer program further comprises:

(i) a ninth code segment for translating the modified price curve to data with a data format for storage in the database.

24. The article of manufacture of claim 23 in which the computer program additionally comprises:

(j) a tenth code segment for displaying a yield amount from sale of the product based on data from the database.

25. The article of manufacture of claim 24 in which the computer program additionally comprises:

(k) an eleventh code segment for modifying the displayed yield amount from sale of the product as the price curve is modified.