System and method for utilizing a wireless communications device
First Claim
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1. A computer, comprising:
- a transceiver operable to receive product information and transmit a discount;
a processor, wherein the processor is configured with processor-executable instructions to perform operations comprising;
the processor receiving product information;
the processor receiving a first lowest price for the product and a store price for the product from a first retailer;
the processor defining a seeding store price based upon the store price from the first retailer;
the processor receiving a second lowest price for the product as offered from each of a plurality of second retailers;
the processor determining participation among at least one the plurality of second retailers;
the processor determining consumer costs associated with purchasing the product from the first and the participating second retailers;
the processor defining a bid increment;
the processor determining a first offer in which (i) the first retailer presents the seeding store price as an offer and (ii) each of the participating second retailers subtract the associated consumer costs and the bid increment from the seeding store price to determine an offer for each of the participating second retailers;
the processor determining a subsequent offer, comprising;
(a) preventing the first or participating second retailers from participating further if the first offer is below or equal to the first or second lowest price as defined by each of the first and participating second retailers respectively;
(b) recalculating the offer for each of the remaining first or participating second retailers as remaining after (a) by subtracting the bid increment from the remaining first or participating second retailers'"'"' previously calculated offers; and
(c) repeating steps (a) through (b) until a final offer is determined; and
the processor transmitting a discount to purchase the product from each of the first or participating second retailers, wherein the discount is based on the most recently determined offer for each of the first and participating second retailers.
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Abstract
A system and method for determining the identity of a product and then calculating an offer price for the product are disclosed. The identity of the product may be determined using near-field communication in one aspect. The system and method are operable to enable retailers to provide a lowest price for the product and conduct a series of offer calculations to determine an offer for a consumer. The offer is based, in part, on costs to the consumer in executing the transaction (e.g., travel time, fuel, etc.). The offer may be higher than the lowest price as determined by each retailer, respectively, while still providing a discount to the consumer to entice a purchase of the product.
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Citations
32 Claims
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1. A computer, comprising:
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a transceiver operable to receive product information and transmit a discount; a processor, wherein the processor is configured with processor-executable instructions to perform operations comprising; the processor receiving product information; the processor receiving a first lowest price for the product and a store price for the product from a first retailer; the processor defining a seeding store price based upon the store price from the first retailer; the processor receiving a second lowest price for the product as offered from each of a plurality of second retailers; the processor determining participation among at least one the plurality of second retailers; the processor determining consumer costs associated with purchasing the product from the first and the participating second retailers; the processor defining a bid increment; the processor determining a first offer in which (i) the first retailer presents the seeding store price as an offer and (ii) each of the participating second retailers subtract the associated consumer costs and the bid increment from the seeding store price to determine an offer for each of the participating second retailers; the processor determining a subsequent offer, comprising; (a) preventing the first or participating second retailers from participating further if the first offer is below or equal to the first or second lowest price as defined by each of the first and participating second retailers respectively; (b) recalculating the offer for each of the remaining first or participating second retailers as remaining after (a) by subtracting the bid increment from the remaining first or participating second retailers'"'"' previously calculated offers; and (c) repeating steps (a) through (b) until a final offer is determined; and the processor transmitting a discount to purchase the product from each of the first or participating second retailers, wherein the discount is based on the most recently determined offer for each of the first and participating second retailers. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
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9. A computer, comprising:
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means for receiving product information; means for receiving a first lowest price for the product and a store price for the product from a first retailer; means for defining a seeding store price based upon the store price from the first retailer; means for receiving a second lowest price for the product as offered from each of a plurality of second retailers; means for determining participation among the plurality of second retailers; means for determining consumer costs associated with purchasing the product from the first and the participating second retailers; means for defining a bid increment; means for determining a first offer in which (i) the first retailer presents the seeding store price as an offer and (ii) each of the participating second retailers subtract the associated consumer costs and the bid increment from the seeding store price to determine an offer for each of the participating second retailers; means for determining a subsequent offer, comprising; (a) means for preventing the first or participating second retailers from participating further if the first offer is below or equal to the first or second lowest price as defined by each of the first and participating second retailers respectively; (b) means for recalculating the offer for each of the remaining first or participating second retailers remaining after (a) by subtracting the bid increment from the remaining first or participating second retailers'"'"' previously calculated offers; and (c) means for repeating steps (a) through (b) until a final offer is determined; and
means for transmitting a discount to purchase the product from each of the first or participating second retailers, wherein the discount is based on the most recently determined offer for each of the first and participating second retailers. - View Dependent Claims (10, 11, 12, 13, 14, 15, 16)
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17. A non-transitory processor-readable medium having stored thereon processor executable instructions configured to cause a processor to perform operations comprising:
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receiving product information; receiving a first lowest price for the product and a store price for the product from a first retailer; defining a seeding store price based upon the store price from the first retailer; receiving a second lowest price for the product as offered from each of a plurality of second retailers; determining participation among the plurality of second retailers; determining consumer costs associated with purchasing the product from the first and the participating second retailers; defining a bid increment; determining a first offer in which (i) the first retailer presents the seeding store price as an offer and (ii) each of the participating second retailers subtract the associated consumer costs and the bid increment from the seeding store price to determine an offer for each of the participating second retailers; determining a subsequent offer, comprising; (a) preventing the first or participating second retailers from participating further if the first offer is below or equal to the first or second lowest price as defined by each of the first and participating second retailers respectively; (b) recalculating the offer for each of the remaining first or participating second retailers remaining after (a) by subtracting the bid increment from the remaining first or participating second retailers'"'"' previously calculated offers; and (c) repeating steps (a) through (b) until a final offer is determined; and transmitting a discount to purchase the product from each of the first or participating second retailers, wherein the discount is based on the most recently determined offer for each of the first and participating second retailers. - View Dependent Claims (18, 19, 20, 21, 22, 23, 24)
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25. A computer-implemented method for providing a discount for a product, the method comprising:
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receiving a first lowest price for the product and a store price for the product from a first retailer with a processor; defining a seeding store price based upon the store price from the first retailer with a processor; receiving a second lowest price for the product as offered from each of a plurality of second retailers with a processor; determining participation among the plurality of second retailers with a processor; determining consumer costs associated with purchasing the product from the first and the participating second retailers with a processor; defining a bid increment with a processor; determining a first offer with a processor in which (i) the first retailer presents the seeding store price as an offer and (ii) each of the participating second retailers subtract the associated consumer costs and the bid increment from the seeding store price to determine an offer for each of the participating second retailers; determining a subsequent offer with a processor, comprising; (a) preventing the first or participating second retailers from participating further if the first offer is below or equal to the first or second lowest price as defined by each of the first and participating second retailers respectively; (b) recalculating the offer for each of the remaining first or participating second retailers remaining after (a) by subtracting the bid increment from the remaining first or participating second retailers'"'"' previously calculated offers; and (c) repeating steps (a) through (b) until a final offer is determined; and transmitting a discount to purchase the product from each of the first or participating second retailers with a processor, wherein the discount is based on the most recently determined offer for each of the first and participating second retailers. - View Dependent Claims (26, 27, 28, 29, 30, 31, 32)
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Specification