Automated synchronous product pricing and advertising system

• US 6,513,016 B1
• Filed: 01/20/2000
• Issued: 01/28/2003
• Est. Priority Date: 07/06/1998
• Status: Expired due to Term

• Current Assignee: Bryan E. Freeny (Freeny), Charles C. Freeny III (Freeny), James P. Freeny (Freeny)
• Original Assignee: Automated Business Companies
• Inventors: Freeny, Jr., Charles C.
• Primary Examiner(s): Millin, Vincent
• Assistant Examiner(s): Kanof, Pedro R.
• Application Number:
  US09/487,422
• Time in Patent Office: 1,104 Days
• Field of Search: 705/14, 705/16, 705/20, 705/21, 705/22, 705/26
• US Class Current: 705/26.8
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/201 Price look-up processing, e.g. updating
• CPC Class Codes: G06Q 20/202 Interconnection or interaction of plural electronic cash registers [ECR] or to host computer, e.g. network details, transfer of information from host to ECR or from ECR to ECR
• CPC Class Codes: G06Q 20/203 Inventory monitoring
• CPC Class Codes: G06Q 20/209 Specified transaction journal output feature, e.g. printed receipt or voice output
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0207 Discounts or incentives, e.g. coupons or rebates
• CPC Class Codes: G06Q 30/0235 constrained by time limit or expiration date
• CPC Class Codes: G06Q 30/0241 Advertisements
• CPC Class Codes: G06Q 30/0273 Determination of fees for advertising
• CPC Class Codes: G06Q 30/0633 Lists, e.g. purchase orders, compilation or processing
• CPC Class Codes: G06Q 30/0641 Shopping interfaces
• CPC Class Codes: G06Q 30/0643 Graphical representation of items or shoppers

Abstract

An automated product pricing system including a physical store system, a virtual store system, and a control system. The physical and virtual store systems are capable of transmitting sales data indicative of the number of sales of identified respective products. The control system is adapted to receive the sales data from the physical store system and the virtual store system. In response thereto, the control system generates price change data including a changed price of an identified product based on the sales data received from at least one of the physical and virtual store systems. The price change data is then transmitted by the control system to at least one of the physical and virtual store systems to thereby change the price of the identified product.

Claims

1. An automated product pricing system, comprising:

product pricing unit means for displaying a first product location price indicative of the unit price of a product such that the first product location price is perceivable by a first shopper when the first shopper is selecting the product for purchase;

means for automatically and electronically changing, based on received data analyzed by at least one price change algorithm, the first product location price to a second product location price following the first shopper selecting the product for purchase, the second product location price being different than the first product location price, the second product location price being perceivable by a second shopper when the second shopper is selecting the product for purchase; and

means for requesting from the first shopper a first product checkout/order price for the purchase of the product and from the second shopper a second product checkout/order price for the purchase of the product, the first and second product checkout/order prices not exceeding the respective first and second product location prices perceivable by the first and second shoppers when the first and second shoppers were selecting the product for purchase.

2. An automated product pricing system as recited in claim 1, further comprising means for changing the first product checkout/order price to the second product checkout/order price a predetermined time later than when the first product location price is changed to the second product location price.

3. An automated product pricing system as recited in claim 2, further comprising:

a store product advertising media unit constructed to selectively output at least one advertising message in a format perceivable by the second shopper, the advertising message identifying the product and including a product advertised price which is identical to the second product checkout/order price.

4. An automated product pricing system, as defined in claim 3, wherein the second mentioned means includes means for storing the first product checkout/order price and also includes a means for changing the first product checkout/order price to the second product checkout/order price, and wherein the store product advertising media unit outputs the advertising message about simultaneously with the changing of the first product checkout/order price to the second product checkout/order price when the second product checkout/order price is less than the first product checkout/order price.

5. An automated product pricing system as defined in claim 1, wherein received data is selected from the group consisting of competition price data, pricing and advertising information, sales and inventory data, and combinations thereof

6. An automated product pricing system as recited in claim 1, further comprising:

time stamp means for recording a time stamp data indicative of the time at which the first and second product location prices were likely perceivable by the first and second respective shoppers to determine the first product checkout/order price requested from the first shopper and the second product checkout/order price requested from the second shopper.

7. An automated product pricing system as defined in claim 3, wherein the time stamp means records the time at which the first and second shoppers entered the store.

9. An automated product pricing system as recited in claim 4, wherein the store system computer of the physical store system further comprises means for changing a first product checkout price to a second product checkout price a predetermined time later than when a first product location price is changed to a second product location price.

10. An automated product pricing system as recited in claim 9, wherein the physical store system further comprises:

a store product advertising media unit constructed to selectively output at least one advertising message in a format perceivable by the shopper, the advertising message identifying the product and including a product advertised price which is identical to the second product checkout price.

11. An automated product pricing system as defined in claim 10, wherein the store product advertising media unit outputs the advertising message about simultaneously with the changing of the first product checkout price to the second product checkout price when the second product checkout price is less than the first product checkout price.

8. An automated product pricing system, comprising:

a plurality of physical store systems, each of the physical store systems comprising;

a product pricing unit constructed to display a product location price indicating the unit price of a product;

a store checkout station constructed to request from a shopper a product checkout price for the purchase of the product;

a store system computer constructed to communicate with the product pricing unit and the store checkout station so as to automatically change the product location price and the product checkout price;

a control system computer located remotely from the physical store systems, the control system computer adapted to selectively communicate price change codes indicative of different prices for the same product to the store system computer of each of the physical store systems whereby the price changes at the physical store systems for the product are capable of being individualized at each physical store system.

12. An automated product pricing system as defined in claim 8, wherein the control system computer comprises:

means for receiving data selected from the group consisting of competition price data, pricing and advertising information, sales and inventory data, and combinations thereof and for changing a first product location price to a second product location price based on the received data.

13. An automated product pricing system as defined in claim 8, further comprising time stamp means for recording the time at which a shopper entered the physical store, or the shopper viewed a product to determine the product checkout price requested from the shopper.

14. An automated product pricing system as defined in claim 8, further comprising:

a virtual store system including;

a display screen displaying at least one product, and displaying a product location price of the particular product;

a store system computer constructed to communicate with the display means for automatically changing the product location price; and

wherein the control system computer is adapted to selectively communicate price change codes indicative of different prices for the same product to the store system computer of some of the physical store systems and the virtual store system whereby the price changes at the physical store systems and virtual store system for the product are capable of being individualized at each physical store system and the virtual store system.