Business system
First Claim
1. A method for guaranteeing a consumer a best price on an item purchased from a vendor in a consummated final first transaction at a first price, the method comprisingrecording the first price and information identifying the consumer;
- monitoring the sales price of the item for a predetermined time period after purchase of the item by the consumer in the consummated final first transaction;
noting any price lower than the first price for the item during the predetermined time period following the purchase of the item;
calculating a money-value difference between the first price and said any price lower than the first price;
refunding to the consumer an amount equal to the money-value difference;
wherein the item is purchased via a host system and the host system records the first price and information identifying the customer;
the host system conducts the monitoring, noting, and calculating steps; and
the host system provides the refund to the consumer;
wherein the host system provides the refund by crediting an account of the consumer; and
wherein only prices for the item to be sold by the vendor involved in the first transaction are taken into account in the noting step.
4 Assignments
0 Petitions
Accused Products
Abstract
A method for guaranteeing a consumer a best price on an item purchased from a vendor in a first transaction at a first price, the method including recording the first price and information identifying the consumer, monitoring the sales price of the item for a predetermined time period after the first transaction, noting any price lower than the first price for the item during the predetermined time period, calculating a money-value difference between the first price and said any price lower than the first price, and refunding to the consumer an amount equal to the money-value difference.
167 Citations
14 Claims
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1. A method for guaranteeing a consumer a best price on an item purchased from a vendor in a consummated final first transaction at a first price, the method comprising
recording the first price and information identifying the consumer; -
monitoring the sales price of the item for a predetermined time period after purchase of the item by the consumer in the consummated final first transaction; noting any price lower than the first price for the item during the predetermined time period following the purchase of the item; calculating a money-value difference between the first price and said any price lower than the first price; refunding to the consumer an amount equal to the money-value difference; wherein the item is purchased via a host system and the host system records the first price and information identifying the customer;
the host system conducts the monitoring, noting, and calculating steps; and
the host system provides the refund to the consumer;wherein the host system provides the refund by crediting an account of the consumer; and wherein only prices for the item to be sold by the vendor involved in the first transaction are taken into account in the noting step. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A business system for guaranteeing a consumer a best price on an item purchased from a vendor in a consummated final first transaction at a first price, the system comprising
means for recording the first price and information identifying the consumer; -
means for monitoring the sales price of the item for a predetermined time period after purchase of the item by the consumer in the consummated final first transaction; means for noting any price lower than the first price for the item during the predetermined time period following the purchase of the item; means for calculating a money-value difference between the first price and said any price lower than the first price; means for refunding to an account of the consumer an amount equal to the money-value difference; and means for duplicating for the consumer any incentive accompanying sales of the item after the consummated final first transaction during the predetermined time period. - View Dependent Claims (9, 10, 11, 12, 13)
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14. In a business system with a magnetic strip card with consumer identifying information encoded thereon said information identifying a consumer desiring to conduct a transaction with a vendor, a host system that maintains information about discounts from said vendor, an apparatus for reading information on the magnetic strip card, said apparatus interconnected with and in communication with the host system, and means for applying any applicable discount related to said transaction for the benefit of said consumer, the improvement comprising
means for guaranteeing a consumer a best price on an item purchased from the vendor in a consummated final first transaction at a first price; - said means further comprising
means for recording the first price and information identifying the consumer; means for monitoring the sales price of the item for a predetermined time period after the purchase of the item by the consumer in the consummated final first transaction; means for noting any price lower than the first price for the item during the predetermined time period, wherein only prices for the item to be sold by the vendor involved in the first transaction are taken into account; means for calculating a money-value difference between the first price and said any price lower than the first price; and means for refunding to an account of the consumer an amount equal to the money-value difference.
- said means further comprising
Specification