Integrated price management systems with future-pricing and methods therefor
First Claim
1. In a computerized integrated price management system, a method of maintaining at least one deal with a lowest price status for at least one product in the price management system, said method comprising:
- inputting a proposed price for the at least one product;
searching a transaction database of the price management system for the at least one deal having the at least one product with the lowest price status;
defining a current lowest price as equal to the price of the at least one product with lowest price status;
when said proposed price is less than said current lowest price, computing a potential revenue impact of lowering the price of said at least one product with said lowest price status to the proposed price; and
displaying, on an output device of the computerized price management system, the potential revenue impact to a user.
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Abstract
The present invention presents systems and methods of future-pricing in an integrated price management system. The invention provides a method of maintaining at least one deal with a lowest price status for at least one product in the price management system by inputting a proposed price for product; searching the price management system for deals having the product with the lowest price status; defining a current lowest price as equal to the price of the product; and, if said proposed price is less than said current lowest price, then computing a potential revenue impact of lowering the price of said product to the proposed price.
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Citations
15 Claims
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1. In a computerized integrated price management system, a method of maintaining at least one deal with a lowest price status for at least one product in the price management system, said method comprising:
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inputting a proposed price for the at least one product; searching a transaction database of the price management system for the at least one deal having the at least one product with the lowest price status; defining a current lowest price as equal to the price of the at least one product with lowest price status; when said proposed price is less than said current lowest price, computing a potential revenue impact of lowering the price of said at least one product with said lowest price status to the proposed price; and displaying, on an output device of the computerized price management system, the potential revenue impact to a user. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A computerized integrated price management system configured to maintaining at least one deal with a lowest price status for at least one product, the integrated price management system comprising:
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an interface configured to input a proposed price for the at least one product; a transaction database configured to enable searching for the at least one deal having the at least one product with the lowest price status; and a most favored nation computing module configured to define a current lowest price as equal to the price of the at least one product with lowest price status, and the most favored nation computing module configured to compute a potential revenue impact of lowering the price of said at least one product with said lowest price status to the proposed price when said proposed price is less than said current lowest price. - View Dependent Claims (9, 10, 11, 12, 13, 14, 15)
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Specification