Digital online exchange

• US 7,848,959 B2
• Filed: 04/19/2007
• Issued: 12/07/2010
• Est. Priority Date: 02/28/2001
• Status: Expired due to Fees

• Current Assignee: Digonex Technologies Incorporated (Emmis Communications Corporation)
• Original Assignee: Digonex Technologies Incorporated (Emmis Communications Corporation)
• Inventors: Marmaros, David P., Voils, Josh, Davis, Roger D., Eglen, Jeremy, Goldfinger, Todd, Schmidt, David Russell, Lindquist, Ephraim, Drapac, David, Dasbach, Garrick, Eglen, Jan Alan, Bakke, Justin
• Primary Examiner(s): Hayes; John W
• Assistant Examiner(s): NELSON, FREDA ANN
• Application Number:
  US11/737,574
• Publication Number:
  US 20070250400A1
• Time in Patent Office: 1,328 Days
• Field of Search: 705/1.1, 705/10, 705 26- 27, 705/37, 705/400
• US Class Current: 705/26.1
• CPC Class Codes: G06Q 10/00 Administration; Management
• CPC Class Codes: G06Q 10/02 Reservations, e.g. for tickets, services or events
• CPC Class Codes: G06Q 20/201 Price look-up processing, e.g. updating
• CPC Class Codes: G06Q 30/00 Commerce
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0206 Price or cost determination based on market factors
• CPC Class Codes: G06Q 30/0207 Discounts or incentives, e.g. coupons or rebates
• CPC Class Codes: G06Q 30/0222 During e-commerce, i.e. online transactions
• CPC Class Codes: G06Q 30/0267 Wireless devices
• CPC Class Codes: G06Q 30/0277 Online advertisement
• CPC Class Codes: G06Q 30/0283 Price estimation or determination
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0613 Third-party assisted
• CPC Class Codes: G06Q 30/0633 Lists, e.g. purchase orders, compilation or processing
• CPC Class Codes: G06Q 30/0635 Processing of requisition or of purchase orders
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

A system for dynamically pricing media content is operatively coupled to one or more clients over a network. The system dynamically adjusts pricing of the media content and delivers the media content to the clients that order the media content at a dynamically adjusted price. The price can be dynamically adjusted based on profit optimization. Alternatively or additionally, the price can be adjusted based to time between purchases. Further, the system is capable of rewarding institutions for allowing their members to access the system.

Claims

1. A method, comprising:

sending a first price of an item for sale from a processor to one or more clients over a network,

determining if a predetermined amount of time has lapsed without the processor having received one or more orders for the item at the first price from one or more of the clients,

pricing the item at a second price with the processor, the second price being less than the first price,

sending the second price of the item from the processor to one or more clients over the network,

receiving one or more orders for the item at the second price from one or more of the clients,

delivering the item to the one or more clients that ordered the item at the second price,

pricing the item at a third price with the processor based at least on the one or more orders for the item at the second price, wherein pricing the item at the third price comprises at least one of;

(i) determining if a profit at the second price is at least equal to a best profit for one or more previous price levels for the item with the processor and increasing the first price to the third price if the profit at the second price is at least equal to the best profit for the one or more previous price levels for the item, wherein the third price is greater than the second price, and

(ii) determining if the profit at the second price is less than the best profit for the one or more previous price levels with the processor and reducing the second price to the third price if the profit at the second price is less than the best profit for the one or more previous price levels, wherein the third price is less than the second price, and

sending the third price over the network to one or more clients.

2. The method of claim 1, wherein increasing the second price to the third price includes setting the third price as a random percentage above the first price.

3. The method of claim 1, wherein reducing the second price to the third price includes reducing the second price to the third price such that the third price is halfway between the second price and a best price at which the best profit for the previous price levels was obtained.

4. An apparatus comprising:

a processor, and

a memory device electrically coupled to the processor, the memory device having stored therein a plurality of instructions which, when executed by the processor, cause the processor to;

(a) send a first price of an item for sale to one or more clients over a network,

(b) determine if a predetermined amount of time has lapsed without the processor having received one or more orders for the item at the first price from one or more of the clients,

(c) price the item at a second price, the second price being less than the first price,

(d) send the second price of the item to one or more clients over the network,

(e) receive one or more orders for the item at the second price from one or more of the clients,

(f) deliver the item to the one or more clients that ordered the item at the second price,

(g) price the item at a third price based at least on the one or more orders for the item at the second price,

(h) send the third price over the network to one or more clients,

(i) determine if a profit at the second price is at least equal to a best profit for one or more previous price levels for the item, and

(j) increase the first price to the third price if the profit at the second price is at least equal to the best profit for the one or more previous price levels for the item.

5. The apparatus of claim 4, wherein the plurality of instructions, when executed by the processor, further cause the processor to set the third price as a random percentage above the first price.

6. An apparatus, comprising:

a processor, and

a memory device electrically coupled to the processor, the memory device having stored therein a plurality of instructions which, when executed by the processor, cause the processor to;

(a) send a first price of an item for sale to one or more clients over a network,

(b) determine if a predetermined amount of time has lapsed without the processor having received one or more orders for the item at the first price from one or more of the clients,

(c) price the item at a second price, the second price being less than the first price,

(d) send the second price of the item to one or more clients over the network,

(e) receive one or more orders for the item at the second price from one or more of the clients,

(f) deliver the item to the one or more clients that ordered the item at the second price,

(g) price the item at a third price based at least on the one or more orders for the item at the second price,

(h) send the third price over the network to one or more clients.

(i) determine if the profit at the second price is less than the best profit for the one or more previous price levels, and

(j) reduce the second price to the third price if the profit at the second price is less than the best profit for the one or more previous price levels.

7. The apparatus of claim 6, wherein the plurality of instructions, when executed by the processor, further cause the processor to reduce the second price to the third price such that the third price is halfway between the second price and a best price at which the best profit for the previous price levels was obtained.