Method, system and apparatus for automatic real-time iterative commercial transactions over the internet in a multiple-buyer, multiple-seller marketplace, optimizing both buyer and seller needs based upon the dynamics of market conditions
First Claim
1. For use in methods of automatically providing buyers with real-time on-demand price quotations on-line over communication networks, an automatic seller engine apparatus for enabling receiving and automatically responding to buyer requests for pricing quotations over the networks,the engine apparatus having:
- a programmable feedback-driven, closed-loop adaptive and real-time time-iterative automatic computation engine;
the computation engine having a processor to receive network-received input information including at least one of a buyer request for specified seller product or service price bid quotations;
a buyer-specific personal profile; and
/or buyer-specific shopping portfolio information;
the processor thereupon automatically generating buyer-specific price quotations based upon said information and also upon its own seller-specific predetermined marketing strategy guidelines stored in and/or inputted to the computation engine; and
the processor being also automatically responsive to further network requests to better the seller'"'"'s price quotation and for thereupon automatically adapting its price quotation to provide appropriate changes in the same in iterative steps to better its price quotation, all while staying within said predetermined marketing strategy guidelines, and all automatically without requiring any manual intervention.
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Accused Products
Abstract
A method of communications network shopping by buyers of products and services for purchasing such from sellers in which buyers request an automatic reverse auctioneer or auction controller to initiate a reverse auction in real time amongst willing sellers and to solicit their automatic real-time iterative bidding price quotations for such products and services to be returned automatically over the network back to the controller under the iterative processing guidance of the controller to assure a best bid price quotation for the buyer; and automatically effecting buyer notification or purchase at such best price, all while the buyer may remain on-line, and without any manual intervention.
36 Citations
72 Claims
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1. For use in methods of automatically providing buyers with real-time on-demand price quotations on-line over communication networks, an automatic seller engine apparatus for enabling receiving and automatically responding to buyer requests for pricing quotations over the networks,
the engine apparatus having: -
a programmable feedback-driven, closed-loop adaptive and real-time time-iterative automatic computation engine; the computation engine having a processor to receive network-received input information including at least one of a buyer request for specified seller product or service price bid quotations;
a buyer-specific personal profile; and
/or buyer-specific shopping portfolio information;
the processor thereupon automatically generating buyer-specific price quotations based upon said information and also upon its own seller-specific predetermined marketing strategy guidelines stored in and/or inputted to the computation engine; andthe processor being also automatically responsive to further network requests to better the seller'"'"'s price quotation and for thereupon automatically adapting its price quotation to provide appropriate changes in the same in iterative steps to better its price quotation, all while staying within said predetermined marketing strategy guidelines, and all automatically without requiring any manual intervention. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14)
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15. A method of conducting a fully automated on-demand instantaneous and real-time reverse auction for products and services over the Internet wherein buyers request a reverse auction controller to solicit from sellers quotes and iterative automatic competitive bidding amongst the sellers in order to become the best-price supplier for a buyer,
the method comprising: -
buyers initiating on-line Internet requests to the controller for soliciting quotations on identified products or services and/or for conducting a reverse auction amongst the sellers; automatically processing such requests at the reverse auction controller and immediately forwarding a customer packet including the request information over the Internet to a plurality of sellers each having respective automated seller engines; upon receipt from the controller of a customer packet, dynamically and automatically generating in each seller'"'"'s respective engine, a unique bid quotation tailor-made for that buyer and based upon the information in the customer packet and transmitting the bid quotation automatically back to the controller over the Internet; causing the controller thereupon to process the bid quotations received from the sellers, and to set the seller engines into automatically competing amongst themselves, for iterative better bids using the current best bid quotations as a basis for further successive automated rounds until only a best bid quotation remains, and with the controller matching the best bid with the buyer'"'"'s request in real-time and without any manual intervention; and
automatically notifying the buyer of the best bid;wherein the buyer requests an automatic price watch, and if and when such price is found by the controller to be matched by a bid, the requested product or service is automatically purchased; and wherein should the bid price drop further within a certain time frame, the controller automatically notifies the buyer as for available seller credit. - View Dependent Claims (16, 17, 18, 19, 20, 21)
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22. A method of communications network shopping by buyers of products and services for purchasing such from sellers, comprising:
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buyers requesting an automatic reverse auction controller over the network to conduct a reverse auction in real time amongst willing sellers and to solicit their automatic real-time iterative bidding price quotations for such products and services, to be returned automatically over the network back to the controller under the iterative processing guidance of the controller to assure a best bid price quotation for the buyer; and automatically effecting buyer notification or purchase at such best price, all without any manual intervention; wherein said iterative automatic price bidding amongst the sellers is effected by each seller being provided with a seller automatic engine containing an automatically operating programmable, feedback driven, closed-loop adaptive and time-iterative computation engine and responsive to the buyer request, thereby to enable the dynamic automatic computation and generation of pricing bid quotations by the computation engine. - View Dependent Claims (23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51)
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52. A system for conducting real-time transactions between buyers and sellers of products and services through an intermediate reverse auctioneer controller communicating on-line with both buyer and seller over the Internet, the system having, in combination:
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a processor contained in the intermediate reverse auctioneer controller for receiving over the Internet and automatically processing on-line buyer requests for seller price quotations, and for thereupon communicating over the Internet to sellers the buyer requests in customer packets including at least one of buyer request information, buyer-specific personal profile information, and/or buyer-specific shopping portfolio information; each seller being equipped with a seller automatic engine storing that seller'"'"'s specific predetermined marketing strategy and responsive to the buyer requests in order automatically to create and to respond to the controller with a price quotation based upon the buyer request and the customer packet information, and within the respective guidelines of seller-specific predetermined information stored in that seller'"'"'s automatic seller engine; said processor automatically processing the price quotations received back over the Internet from the seller automatic engines to initiate an iterative real-time automatic seller engine competitive bettering of the price quotations within said respective guidelines, until a best price quotation is received; and the controller thereupon enabling the automatic notifying of, or purchasing by, the buyer at such best price quotation; wherein buyer requests an automatic price watch, and if and when the reverse auction controller automatically determines that such price is matched by a bid, the controller automatically effects the purchase of the requested product or service; and wherein if the bid price drops further within a certain time frame, the controller automatically so notifies the buyer as for available seller credit.
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53. A system for conducting real-time transactions between buyers and sellers of products and services through an intermediate reverse auctioneer controller communicating on-line with both buyer and seller over the Internet, the system having, in combination:
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a processor contained in the intermediate reverse auctioneer controller for receiving over the Internet and automatically processing on-line buyer requests for seller price quotations and for thereupon communicating over the Internet to sellers the buyer requests in customer packets including at least one of buyer request information, buyer-specific personal profile information, and/or buyer-specific shopping portfolio information; each seller being equipped with a seller automatic engine storing that seller'"'"'s specific predetermined marketing strategy and responsive to the buyer requests in order automatically to create and to respond to the controller with a price quotation based upon the customer packet information, and within the respective guidelines of seller-specific predetermined information stored in that seller'"'"'s automatic seller engine; said processor automatically processing the price quotations received back over the Internet from the seller automatic engines to initiate an iterative real-time automatic seller engine competitive bettering of the price quotations within said respective guidelines, until a best price quotation is received; and the controller thereupon enabling the automatic notifying of, or purchasing by, the buyer at such best price quotation; wherein said automatic seller engine iterative bettering of the price quotations amongst the sellers is effected by providing each seller automated engine with a programmable, feedback driven, closed-loop adaptive and time-iterative computation engine, such engine being automatically responsive to said buyer requests, as communicated by the reverse auctioneer controller, thereby enabling the automatic dynamic generating of said pricing bid quotations by said computation engine; and
the computation engine, being further adapted automatically to respond to the other seller price bid quotations received in a round of bidding for bettering its bid price quotation. - View Dependent Claims (54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 64, 65, 66, 67, 68)
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69. A system for conducting real-time transactions between buyers and sellers of products and services through an intermediate controller communicating on-line with both buyer and seller over a communication network, the system having, in combination:
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a processor contained in the intermediate controller for receiving over the network and automatically processing on-line buyer requests for seller price quotations, and for thereupon communicating over the network to sellers the buyer requests in customer packets including at least one of buyer request information, buyer-specific personal profile information, and/or buyer-specific shopping portfolio information; each seller being equipped with a seller automatic engine storing that seller'"'"'s specific predetermined marketing strategy and responsive to the communicated buyer requests in order automatically to create and to respond to the controller with a price quotation based upon the buyer request and customer packet information and within the respective guidelines of the seller-specific predetermined information stored in that seller'"'"'s automatic seller engine; said processor automatically processing at the controller the price quotations received back over the network from the seller automatic engines and automatically communicating back to the buyer the better of the price quotations received from the sellers, all with no manual intervention; wherein each seller automated engine is provided with a programmable, feedback driven, closed-loop adaptive real-time iterative computation engine adapted to receive input market data and to couple said data with said respective buyer requests and customer packet information, thereby to enable the computation engine dynamically to compute and generate the real-time pricing bid quotations; and wherein the processor automatically adapting the computation engine price quotations to the constantly evolving market conditions and environment to provide appropriate changes including bettering of the price quotations, while staying within guidelines of the respective said seller-specific predetermined marketing strategy information and the constraints thereof. - View Dependent Claims (70, 71, 72)
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Specification