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Automated system for generating proposed markdown strategy and tracking results of proposed markdown

  • US 7,996,330 B2
  • Filed: 07/28/2004
  • Issued: 08/09/2011
  • Est. Priority Date: 03/08/2004
  • Status: Active Grant
First Claim
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1. A non-transitory machine readable media having stored therein instructions that, when executed, cause a processor to implement a method for controlling pricing of a product or service using a markdown profile, which comprises the steps of:

  • selecting the markdown profile to be used for the product or service;

    selecting a price for the product or service;

    acquiring updated sales data regarding the product or service;

    determining a markdown planned budget, a cumulative markdown budget, and an exhausted markdown budget;

    determining a first markdown to be applied to the price from the markdown profile using the updated sales data;

    determining an available markdown budget based on the markdown planned budget, the cumulative markdown budget, and the exhausted markdown budget;

    determining a markdown cost based on the first markdown and a quantity of available products or services;

    determining that the markdown cost exceeds the available markdown budget;

    determining a second markdown based on the markdown cost exceeding the available markdown budget, wherein the second markdown is determined by applying predetermined rules regarding the available markdown budget; and

    when the second markdown exceeds the available markdown budget, adjusting the price of the product or service by the second markdown.

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