System and method for dynamic product pricing
First Claim
1. A method for pricing a product to be sold over the internet comprising a server computer connected to a network, a computer processor, and a database, the method comprising:
- storing sales characteristics for each of a plurality of products in the database, the sales characteristics including sale history and sale queue information, the sale queue information being information regarding a sale queue and including current list prices for the plurality of products currently being offered for sale, the sale queue information further including the number of products being offered for sale at each of the current list prices, the sale queue information further including the condition of each product being offered for sale;
receiving, at the server computer via the network, a sale order from a seller, the sale order including product information of a list product associated with one of the plurality of products;
calculating, by the computer processor, a market price prior to listing the list product for sale to a potential buyer of the list product, the market price being calculated based on the product information in the sale order and the sale characteristics of the list product;
causing to display, by the computer processor, after calculating the market price and prior to listing the list product for sale to the potential buyer of the list product, a suggested list price to the seller based on the market price, the suggested list price indicating a suggested price of the list product at which the seller may attempt to sell the list product to the potential buyer; and
causing to display to the potential buyer only a lowest price offered by the best seller of each product, with higher prices by other sellers being held in said sale queue and caused to be displayed only after the sale of products at lower prices;
wherein the best seller is the seller with the highest reliability rating.
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Abstract
Embodiments of the present invention provide a system and method for dynamic product pricing. According to one embodiment, sale characteristics for a plurality of products are stored in a database. A user places a sale order including information associated with a product to be listed on a website, and a market price for the product is calculated based on the stored sale characteristics of the product. The sales characteristics include a queue of current list prices of the product as well as recent sale prices, with the queue having the number of the product available for sale at each different price. A suggested list price is displayed to the seller based on the market price. The seller is provided with a means for adjusting the suggested list price or listing the product at the suggested list price.
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Citations
20 Claims
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1. A method for pricing a product to be sold over the internet comprising a server computer connected to a network, a computer processor, and a database, the method comprising:
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storing sales characteristics for each of a plurality of products in the database, the sales characteristics including sale history and sale queue information, the sale queue information being information regarding a sale queue and including current list prices for the plurality of products currently being offered for sale, the sale queue information further including the number of products being offered for sale at each of the current list prices, the sale queue information further including the condition of each product being offered for sale; receiving, at the server computer via the network, a sale order from a seller, the sale order including product information of a list product associated with one of the plurality of products; calculating, by the computer processor, a market price prior to listing the list product for sale to a potential buyer of the list product, the market price being calculated based on the product information in the sale order and the sale characteristics of the list product; causing to display, by the computer processor, after calculating the market price and prior to listing the list product for sale to the potential buyer of the list product, a suggested list price to the seller based on the market price, the suggested list price indicating a suggested price of the list product at which the seller may attempt to sell the list product to the potential buyer; and causing to display to the potential buyer only a lowest price offered by the best seller of each product, with higher prices by other sellers being held in said sale queue and caused to be displayed only after the sale of products at lower prices; wherein the best seller is the seller with the highest reliability rating. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A computer-implemented system for distributing a product sold over the internet, the system comprising:
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a computer processor; a database configured to store sale characteristics for a plurality of products, the sales characteristics including sales history and sale queue information, the sale queue information being information regarding a sale queue and including current list prices for the plurality of products currently being offered for sale, the sale queue information further including the number of products being offered for sale at each of the current list prices, the sale queue information further including the condition of each product being offered for sale; a communication interface configured to receive a sale order from a seller, the sale order including product information of a list product associated with one of the plurality of products; and computer readable media including computer readable code for a software application comprising; a market price calculating section configured to calculate a market price prior to listing the list product for sale to a potential buyer of the list product, the market price being calculated based on the product information in the sale order and the sale characteristics of the list product; and a user interface for causing to display, after calculating the market price and prior to listing the list product for sale to the potential buyer of the list product, a suggested list price to the seller based on the market price, the suggested list price indicating a suggested price of the list product at which the seller may attempt to sell the list product to the potential buyer; wherein the communication interface is further configured to transmit for display to the potential buyer only a lowest price offered by the best seller of each product, with higher prices by other sellers being held in said sale queue and caused to be displayed only after the sale of products at lower prices; wherein the best seller is the seller with the highest reliability rating. - View Dependent Claims (12, 13, 14, 15, 16)
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17. A method for pricing a product to be sold over the internet comprising a server computer connected to a network, a computer processor, and a database, the method comprising:
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storing sales characteristics for each of a plurality of products in the database, the sales characteristics including sales history and sale queue information, the sale queue information being information regarding a sale queue and including current list prices for the plurality of products currently being offered for sale, the sale queue information further including the number of products being offered for sale at each of the current list prices, the sale queue information further including the condition of each product being offered for sale; receiving, at the server via the network, a sale order from a seller, the sale order including product information of a list product associated with one of the plurality of products; calculating, by the computer processor, a market price prior to listing the list product for sale to a potential buyer of the list product, the market price being calculated based on the product information in the sale order and the sale characteristics of the list product; causing to display, by the computer processor, after calculating the market price and prior to listing the list product for sale to the potential buyer of the list product, a suggested list price to the seller based on the market, the suggested list price indicating a suggested price of the list product at which the seller may attempt to sell the list product to the potential buyer; listing, by the computer processor, in response to agreement by the seller, the list product at the suggested list price; varying, by the computer processor, the price of the list product in accordance with variations in the market price, without further input from said seller; and causing to display to the potential buyer only a lowest price offered by the best seller of each product, with higher prices by other sellers being held in said sale queue and caused to be displayed only after the sale of products at lower prices; wherein the best seller is the seller with the highest reliability rating. - View Dependent Claims (18, 19, 20)
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Specification