System and method for conducting a customer affinity program auction
First Claim
1. A method of conducting a customer affinity program auction, comprising:
- determining, using a central controller, a minimum opening bid price by;
determining an auction pricing discount factor based at least on merchandise being auctioned and the time period of the auction;
applying the auction pricing discount factor to a cost of the merchandise;
setting the minimum opening bid price in reward points based on the determined minimum opening bid price; and
receiving a bid of reward points from a customer using a computer terminal for the merchandise being offered in the auction.
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Accused Products
Abstract
A system and method is described that allows customers to bid on the goods or services using reward points earned through a customer affinity program. The system and method also allows the customers to purchase additional reward points for use in the auction. A specific quantity of reward points may be purchased by the customer for use in the auction or the customer may choose to bid on goods and services in excess of his earned reward points and pay for the additional reward points after the auction is completed. Alternatively, the customer may convert reward points to a cash value for use in the auction. The auction may be customized or targeted to a particular group of customers.
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Citations
57 Claims
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1. A method of conducting a customer affinity program auction, comprising:
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determining, using a central controller, a minimum opening bid price by; determining an auction pricing discount factor based at least on merchandise being auctioned and the time period of the auction; applying the auction pricing discount factor to a cost of the merchandise; setting the minimum opening bid price in reward points based on the determined minimum opening bid price; and receiving a bid of reward points from a customer using a computer terminal for the merchandise being offered in the auction. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11)
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12. A customer affinity program auction system, comprising:
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a central controller constructed to receive a bid of reward points from a customer for merchandise being offered in the auction; wherein said central controller is constructed to determine a minimum opening bid price by applying an auction pricing discount factor in reward points based at least on the merchandise being auctioned and the time period of the auction. - View Dependent Claims (13, 14, 15, 16, 17, 18, 19, 20, 21, 22)
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23. Computer executable code stored on a computer readable medium for conducting a customer affinity program auction, comprising:
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a module configured to receive a bid of reward points from a customer for merchandise being offered in the auction; and a module configured to determine a minimum opening bid price by applying an auction pricing discount factor in reward points based at least on the merchandise being auctioned and the time period of the auction. - View Dependent Claims (24, 25, 26, 27, 28, 29, 30, 31, 32, 33)
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34. A method of conducting a customer affinity program auction comprising:
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determining, using a central controller, a minimum opening bid price by; determining an auction pricing discount factor based at least on merchandise being auctioned and the time period of the auction; applying the auction pricing discount factor to a cost of the merchandise; setting the minimum opening bid price in reward points based on the determined minimum opening bid price. - View Dependent Claims (35)
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36. A customer affinity program auction system comprising:
a central controller constructed to determine a minimum opening bid price by applying an auction pricing discount factor in reward points based at least on merchandise being auctioned and the time period of the auction. - View Dependent Claims (37)
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38. Computer executable code stored on a computer readable medium for conducting a customer affinity program auction, comprising:
a module configured to determine a minimum opening bid price by applying an auction pricing discount factor in reward points based at least on merchandise being auctioned and the time period of the auction. - View Dependent Claims (39)
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40. A method of conducting a customer affinity program auction comprising:
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determining, using a central controller, a minimum opening bid price by; determining an auction pricing discount factor based at least on merchandise being auctioned and the time period of the auction; applying the auction pricing discount factor to a cost of the merchandise; setting the minimum opening bid price in reward points based on the determined minimum opening bid price; and receiving a bid in cash from a customer using a computer terminal for the merchandise being offered in the auction, wherein at least a portion of the bid is paid for by reward points converted to a cash value. - View Dependent Claims (41, 42, 43, 44, 45)
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46. A customer affinity program auction system, comprising:
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a central controller constructed to receive a bid in cash from a customer for merchandise being offered in the auction, wherein said central controller is constructed to determine a minimum opening bid price by applying an auction pricing discount factor in reward points based at least on the merchandise being auctioned and the time period of the auction, and wherein at least a portion of the bid is paid for by reward points converted to a cash value. - View Dependent Claims (47, 48, 49, 50, 51)
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52. Computer executable code stored on a computer readable medium for conducting a customer affinity program auction, comprising:
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a module configured to receive a bid in cash from a customer for merchandise being offered in the auction, and a module configured to determine a minimum opening bid price by applying an auction pricing discount factor in reward points based at least on the merchandise being auctioned and the time period of the auction, wherein at least a portion of the bid is paid for by reward points converted to a cash value. - View Dependent Claims (53, 54, 55, 56, 57)
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Specification