System for concurrent optimization of business economics and customer value satisfaction

• US 8,275,667 B1
• Filed: 10/31/2007
• Issued: 09/25/2012
• Est. Priority Date: 10/24/2003
• Status: Active Grant

• Current Assignee: Tenon & Groove LLC
• Original Assignee: Tenon & Groove LLC
• Inventors: Goel, Sachin
• Primary Examiner(s): ALLEN, WILLIAM J
• Application Number:
  US11/981,716
• Time in Patent Office: 1,791 Days
• Field of Search: 705 26- 272, 705/80, 705 5- 6
• US Class Current: 705/26.1
• CPC Class Codes: G06Q 10/02 Reservations, e.g. for tickets, services or events
• CPC Class Codes: G06Q 10/025 Coordination of plural reservations, e.g. plural trip segments, transportation combined with accommodation
• CPC Class Codes: G06Q 30/00 Commerce
• CPC Class Codes: G06Q 30/0623 Item investigation

Abstract

A method of dynamically formulating value options that maximize customer satisfaction and company profitability includes identifying a set of demand segments for a company, each demand segment having a satisfaction value. The method further includes identifying a set of demand options falling under each of the demand segments for each product offered by the company, each demand option having a preference value. Whenever a customer demands a product, the method further includes interacting with the customer in a structured manner to determine advanced and ongoing preferences of the customer for the product. The method further includes setting the preference value of each demand option based on the advanced and ongoing preferences of the customer for the product demanded by the customer. The method further includes formulating a set of value options that satisfy the customer demand. Each value option has a set of demand options and a customer satisfaction value based on an aggregate of individual satisfaction values for the demand segments and the company profitability in satisfying the demand options in the value option. The satisfaction value of each demand segment is based on the preference values of the demand options satisfied within the demand segment.

Claims

1. A method for concurrent enhancement of value in a transaction between at least two entities, comprising:

a. (1) dynamically receiving input defining multiple customers'"'"' needs and preferences with respect to a product offering of a business, (2) determining the customers'"'"' preferences with respect to at least one product offering of the business; and

(3) storing the determined customer preferences in a structured manner in a computer accessible database, wherein steps (1)-(3) are performed using a Customer Engine module;

b. creating, by a computer processor, executing stored program instructions configuring the processor as a module, termed a Value Option Creator module, Value Option Frameworks, and formulating corresponding multiple types of value options for said business that can be offered to customers while enhancing the business'"'"'s operations, in consideration of said determined customer preferences;

c. receiving from customers inputs representing purchase selections of value options;

d. on a computer processor, executing stored program instructions configuring the processor as a module, termed an Event Optimizer module, monitoring business operational information and executing event algorithms related to the types of value options which customers have purchased, the Event Optimizer module further invoking pre-designed protocols on occurrences of predetermined events associated with said option types;

e. dynamically integrating said preferences with the economics of said business using said Event Optimizer module; and

f. concluding a sale of the product, whereby concluding the sale thereby enhances both the customer'"'"'s purchase utilities expressed in said preferences and the business'"'"'s profitability with respect to its sales.

2. The method of claim 1, wherein the Customer Engine module is part of one or more web sites or call centers.

3. The method of claim 1, wherein a Value Option Framework a provides at least one option to a customer according to which the customer may choose n out of m selected products, where n is less than or equal to m and the customer defines at least one of the n chosen products.

4. The method of claim 1, wherein a Value Option Framework provides at least one option to a customer according to which the customer may choose n out of m selected products, where n is less than or equal to m and an entity other than the customer defines at least one of the n chosen products and after each of said n chosen products are defined, the customer can utilize said chosen products.

5. The method of claim 1, wherein a Value Option Framework provides at least one option to a customer according to which the customer may express a preference desired if a specified event or type of event occurs.

6. The method of claim 1, wherein a Value Option Framework provides at least one option to the business according to which the business may buy back some of the products already selected by the customer.

7. The method of claim 1, wherein a Value Option Framework provides at least one option to a customer according to which the customer may choose a single product providing similar value instead of a plurality of products.

8. The method of claim 7, wherein said Value Option Framework provides at least one option according to which a customer booked on connecting flights may choose a direct flight, instead.

9. The method of claim 1, wherein a Value Option Framework provides at least one option to a customer according to which the customer may choose a higher ranked product.

10. The method of claim 1, wherein a Value Option Framework provides at least one option to a customer according to which the customer may provide the customer'"'"'s preferences within a designated framework and establish relative utilities associated with those preferences by setting a target value.

11. The method of claim 1, wherein a Value Option Framework provides at least one option to a customer according to which the customer may enter into a pre-determined agreement and the customer utilizes the products of the same business within a specified parameter.

12. The method of claim 11, wherein said specified parameter includes a specified time period.

13. The method of claim 11, wherein said specified parameter includes a specified quantity.

14. The method of claim 1, wherein a Value Option Framework provides at least one option according to which the customer may utilize n out of m products, where:

a. n is less than m; and

b. m is equal to or greater than 2.

15. The method of claim 14, wherein said utilization is governed by a pre-determined agreement.

16. The method of claim 14, wherein said utilization must occur within a specified time period.

17. The method of claim 1, wherein a Value Option Framework provides at least one option according to which a customer may accept a delay in the delivery of a product in exchange for compensation.

18. A system for concurrent enhancement of value in a transaction between a business entity and customers of the business entity, comprising:

at least one memory storing program instructions;

one or more processors configured to execute said program instructions, said one or more processors configured to;

a. (1) dynamically receive input defining multiple customers'"'"' needs and preferences with respect to a product offering of a business, (2) determine the customers'"'"' preferences with respect to at least one product offering of the business; and

(3) store the determined customer preferences in a structured manner in a computer accessible database;

b. create Value Option Frameworks and formulate corresponding multiple types of value options for said business that can be offered to customers while enhancing the business'"'"'s operations, in consideration of said determined customer preferences;

c. receive from customers inputs representing purchase selections of value options;

d. monitor business operational information, execute event algorithms related to the types of value options which customers have purchased, and invoke pre-designed protocols on occurrences of predetermined events associated with said option types;

e. dynamically integrate said preferences with the economics of said business using; and

f. conclude a sale of the product, whereby concluding the sale thereby enhances both the customer'"'"'s purchase utilities expressed in said preferences and the business'"'"'s profitability with respect to its sales.

19. The system of claim 18, wherein the Customer Engine module is part of one or more of a web site and a call center.