Automated control of pricing using markdown profiles
First Claim
1. Non-transitory machine-readable media for controlling pricing for sale of a product using an automated process, the non-transitory machine-readable media comprising program code stored therein executable by one or more machines to perform the automated process, the automated process comprising:
- selecting a markdown profile to be used for the product;
selecting a retail price for the product;
determining a target sales quota for the product;
acquiring by a program module sales data regarding the product;
comparing by the program module the sales data to the target sales quota;
determining by the program module a best seller based on a sales data to target sales quota comparison;
determining by the program module that the product is within a product lifecycle;
when the product is within the product lifecycle, acquiring by the program module updated sales data regarding the product;
determining by the program module whether the product is still the best seller based on an updated sales data to target sales quota comparison;
when the product is not within the product lifecycle, ending the automated process;
storing at least one of a determination that the product is the best seller and data related to ending the automated process;
wherein the best seller determination is based on at least one of a sales data to target sales quota comparison and an updated sales data to target sales quota comparison.
2 Assignments
0 Petitions
Accused Products
Abstract
A method, program product and system for controlling pricing for sale of a product, where the method includes: selecting a markdown profile to be used for the product; selecting a retail price for the product; acquiring updated sales data regarding the product; and determining a markdown to be applied to the retail price from the markdown profile using the updated sales data. The method can further include the step of adjusting a retail price of the product by the markdown. The method, program product, and system may also provide a data structure for implementing a markdown profile by determining retail price adjustments for a product, where the data structure includes: an actual sales quota parameter; a posting period parameter arranged perpendicular to the actual sales quota parameter; and a plurality of data fields containing markdowns, each data field corresponding to a specific posting period and actual sales quota range and each markdown relating to an amount of adjustment of a retail price for the product.
-
Citations
26 Claims
-
1. Non-transitory machine-readable media for controlling pricing for sale of a product using an automated process, the non-transitory machine-readable media comprising program code stored therein executable by one or more machines to perform the automated process, the automated process comprising:
-
selecting a markdown profile to be used for the product; selecting a retail price for the product; determining a target sales quota for the product; acquiring by a program module sales data regarding the product; comparing by the program module the sales data to the target sales quota; determining by the program module a best seller based on a sales data to target sales quota comparison; determining by the program module that the product is within a product lifecycle; when the product is within the product lifecycle, acquiring by the program module updated sales data regarding the product; determining by the program module whether the product is still the best seller based on an updated sales data to target sales quota comparison; when the product is not within the product lifecycle, ending the automated process; storing at least one of a determination that the product is the best seller and data related to ending the automated process; wherein the best seller determination is based on at least one of a sales data to target sales quota comparison and an updated sales data to target sales quota comparison. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
-
-
11. A system for controlling pricing for sale of a product using an automated process, comprising:
-
means for selecting a markdown profile to be used for the product; means for selecting a retail price for the product; means for determining a target sales quota for the product; means for acquiring sales data regarding the product; means for comparing the sales data to the target sales quota; means for determining a best seller based on a sales data to target sales quota comparison; means for determining that the product is within a product lifecycle; when the product is within the product lifecycle, acquiring updated sales data regarding the product; means for determining whether the product is still the best seller based on an updated sales data to target sales quota comparison; when the product is not within the product lifecycle, ending the automated process; means for storing at least one of a determination that the product is the best seller and data related to ending the automated process; wherein the best seller determination is based on at least one of a sales data to target sales quota comparison and an updated sales data to target sales quota comparison. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18, 19, 20)
-
-
21. Non-transitory machine-readable media for controlling pricing for sale of a product using an automated process, the non-transitory machine-readable media comprising program code stored therein executable by one or more machines to perform the automated process, the automated process comprising:
-
selecting a first markdown profile to be used for a first product; selecting a second markdown profile to be used for a second product selecting a first retail price for the first product; selecting a second retail price for the second product; determining a first target sales quota for the first product; determining a second target sales quota for the second product; acquiring by a program module first sales data regarding the first product; acquiring by the program module second sales data regarding the second product comparing by the program module the first sales data to the first target sales quota; comparing by the program module the second sales data to the second target sales quota; determining by the program module a slow seller based on comparing the first sales data to the first target sales quota; determining by the program module a best seller based on comparing the second sales data to the second target sales quota; determining by the program module that the first product is within a first product lifecycle; determining by the program module that the second product is within a second product lifecycle; when the first product is within the first product lifecycle, acquiring by the program module a first product updated sales data; when the second product is within the second product lifecycle, acquiring by the program module a second product updated sales data; determining by the program module whether the first product is still the slow seller based on comparing the first product updated sales data to the first target sales quota; determining by the program module whether the second product is still the best seller based on comparing the second product updated sales data to the second target sales quota; when the first product is not within the first product lifecycle, ending a first portion of the automated process relating to the first product; when the second product is not within the second product lifecycle, ending a second portion of the automated process relating to the second product; storing at least one of a determination that the first product is the slow seller, the second product is the best seller and data related to ending the first portion of the automated process, and data related to ending the second portion of the automated process; wherein the best seller determination is based on at least one of a second sales data to second target sales quota comparison and a second product updated sales data to second target sales quota comparison; wherein the slow seller determination is based on a first sales data to first target sales quota comparison and a first product updated sales data to first target sales quota comparison. - View Dependent Claims (22, 23, 24, 25, 26)
-
Specification