Method of transacting pooled sales based on an accumulated time rate

• US 8,032,422 B2
• Filed: 06/17/2009
• Issued: 10/04/2011
• Est. Priority Date: 09/21/1999
• Status: Expired due to Fees

• Current Assignee: LG Display Co., Ltd.
• Original Assignee: LG Display Co., Ltd.
• Inventors: Monsanto, Raphael A., Pickard, Stuart G.
• Primary Examiner(s): Shah; Amee A
• Application Number:
  US12/456,590
• Publication Number:
  US 20100004978A1
• Time in Patent Office: 839 Days
• Field of Search: 705/26, 705/27, 705/26.2, 705/26.1
• US Class Current: 705/26.2
• CPC Class Codes: G06Q 30/0241 Advertisements
• 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 30/0605 Supply or demand aggregation
• CPC Class Codes: G06Q 30/0625 Directed, with specific intent or strategy
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

A method of transacting sales over a computerized network correlates in a first database record a first product and a plurality of first purchasers to form a pool; further correlates a plurality of second purchasers; issues an offer to a vendor of the first product; and consummates a transaction between the vendor and the first and second purchasers. The offer is issued to the vendor responsive to a time rate of accumulation of buyers in the pool. A first commitment price for buyers is responsive to historical sales performance of the first product; a price trend of an article similar to the first article; or a price trend of the first article itself over time. A second product desired to be purchased by a first purchaser is defined, and an offer is made to a vendor for the purchase of the second product.

Claims

1. A method of transacting sales over a computerized network, the method comprising the steps of:

defining a first product desired to be purchased by a plurality of first purchasers;

calculating, by a pricing engine in a computerized system, a first commitment price;

producing a plurality of first database records, each corresponding to a correlation between the first product and a respective one of the first purchasers;

storing the plurality of first database records in a database memory;

identifying a time rate at which the plurality of first database records are accumulated in the database memory during performance of said step of storing;

further producing a further plurality of first database records, each corresponding to a correlation between the first product and a respective one of a plurality of second purchasers;

calculating a first offer price based on the first commitment price, the quantity of first database records, and the time rate identified in said step of identifying;

issuing an offer to a vendor for the purchasers to purchase the first product at the calculated first offer price in a quantity responsive to a number of first database records; and

consummating a transaction between the vendor and the first and second purchasers.

2. The method of claim 1, wherein there are further provided the steps of:

storing the further plurality of first database records in the database memory; and

identifying a time rate at which the plurality of further first database records are accumulated in the database memory.

3. The method of claim 1, wherein said step of calculating a first commitment price is responsive to the number of first purchasers that are correlated in said step of correlating in a first database record the first product and the first purchasers prior to performing said step of calculating a first commitment price.

4. The method of claim 1, wherein said step of calculating a first commitment price is responsive to historical sales performance of the first product.

5. The method of claim 1, wherein said step of calculating a first commitment price is responsive to a price trend of an article similar to the first article.

6. The method of claim 5, wherein said step of calculating a first commitment price is responsive to a price trend of the first article.

7. The method of claim 1, wherein there are further provided the steps of:

defining a second product desired to be purchased by at least one of the first purchasers; and

producing a second database record corresponding to a correlation between the second product and the least one first purchaser.

8. The method of claim 7, wherein there is further provided the step of producing a plurality of second database records, each corresponding to a correlation between the second product and a respective one of a plurality of third purchasers.

9. The method of claim 8, wherein there is further provided the step of issuing a further offer to a vendor to purchase the second product at a second offer price in a quantity responsive to the plurality of second database records.

10. The method of claim 9, wherein there is further provided the step of formulating a first consolidated report for presentation to the first purchaser responsive to the first and second offer prices.

11. The method of claim 8, wherein there is further provided the step of formulating a first consolidated report for presentation to the first purchaser responsive to the first and second database records.