Digital online exchange

• US 7,080,030 B2
• Filed: 02/27/2002
• Issued: 07/18/2006
• Est. Priority Date: 02/28/2001
• Status: Active Grant

• Current Assignee: Digonex Technologies Incorporated (Emmis Communications Corporation)
• Original Assignee: Digonex Technologies Incorporated (Emmis Communications Corporation)
• Inventors: Voils, Josh, Davis, Roger D., Eglen, Jeremy, Goldfinger, Todd, Schmidt, David Russell, Lindquist, Ephraim, Drapac, David, Dasbach, Garrick, Marmaros, David P., Eglen, Jan Alan, Bakke, Justin
• Primary Examiner(s): Hayes, John W.
• Assistant Examiner(s): NELSON, FREDA ANN
• Application Number:
  US10/084,777
• Publication Number:
  US 20030023505A1
• Time in Patent Office: 1,602 Days
• Field of Search: 705/1, 705/14, 705 26- 27, 705/400, 186/36, 709/226, 235/281
• US Class Current: 705/26.41
• CPC Class Codes: G06Q 10/00 Administration; Management
• CPC Class Codes: G06Q 10/02 Reservations, e.g. for tickets, services or events
• CPC Class Codes: G06Q 20/201 Price look-up processing, e.g. updating
• CPC Class Codes: G06Q 30/00 Commerce
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0206 Price or cost determination based on market factors
• CPC Class Codes: G06Q 30/0207 Discounts or incentives, e.g. coupons or rebates
• CPC Class Codes: G06Q 30/0222 During e-commerce, i.e. online transactions
• CPC Class Codes: G06Q 30/0267 Wireless devices
• CPC Class Codes: G06Q 30/0277 Online advertisement
• 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 30/0613 Third-party assisted
• CPC Class Codes: G06Q 30/0633 Lists, e.g. purchase orders, compilation or processing
• CPC Class Codes: G06Q 30/0635 Processing of requisition or of purchase orders
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

A system for dynamically pricing media content is operatively coupled to one or more clients over a network. The system dynamically adjusts pricing of the media content and delivers the media content to the clients that order the media content at a dynamically adjusted price. The price can be dynamically adjusted based on profit optimization. Alternatively or additionally, the price can be adjusted based to time between purchases. Further, the system is capable of rewarding institutions for allowing their members to access the system.

Claims

1. A method, comprising:

sending a first price of an item for sale from a processor to one or more clients over a network;

receiving one or more orders for the item at the first price from one or more of the clients;

delivering the item to the one or more clients that ordered the item at the first price;

pricing the item at a second price with the processor based at least on the one or more orders for the item at the first price;

sending the second price over the network to one or more clients; and

wherein said pricing includes at least one of;

(i) determining if a profit at the first price is at least equal to a best profit for one or more previous price levels for the item with the processor and increasing the first price to the second price if the profit at the first price is at least equal to the best profit for the one or more previous price levels for the item, wherein the second price is greater than the first price, and

(ii) determining if the profit at the first price is less than the best profit for the one or more previous price levels with the processor and reducing the first price to the second price if the profit at the first price is less than the best profit for the one or more previous price levels, wherein the second price is less than the first price.

2. The method of claim 1, wherein said increasing the first price to the second price includes setting the second price as a random percentage above the first price.

3. The method of claim 1, wherein said reducing the first price to the second price includes reducing the first price to the second price such that the second price is halfway between the first price and a best price at which the best profit for the previous price levels was obtained.

4. The method of claim 1, wherein the first price is an initial price.

5. The method of claim 4, further comprising receiving the initial price from a supplier of the item over the network.

6. The method of claim 4, further comprising setting the initial price with the processor based on historical data for the item.

7. The method of claim 1 further comprising:

receiving a minimum price far the item from a supplier of the item; and

wherein said reducing the first price to the second price includes setting the second price of the item to the minimum price for the item.

8. The method of claim 1, further comprising:

wherein the one or more clients that ordered the item at the fir st price include a first client; and

debiting at least the first price from an account of the first client with the processor.

9. The method of claim 8, further comprising:

registering the first client;

receiving one or more deposits from the first client; and

crediting the out or more deposits to the account of the first client with the processor before said debiting.

10. The method of claim 9, wherein said receiving the one or more deposits includes receiving payment from the first client over the network.

11. The method of claim 10, wherein said receiving the one or more deposits includes receiving payment through a third party.

12. The method of claim 1, wherein said delivering the item includes transmitting the item from the processor to the one or more clients that ordered the item at the first price over the network.

13. The method of claim 1, wherein said delivering the item includes transmitting the item from a content supplier device for the item to the one or more clients that ordered the item at the first price.

14. The method of claim 1, further comprising:

wherein the one or more clients that ordered the item at the first price include a first client;

wherein the network includes an institutional network operated by an institution and the first client is operatively coupled to the processor through the institutional network;

identifying the first client as a member of the institution with the processor; and

compensating the institution for the order of the item at the first price from the first client.

15. The method of claim 14, wherein the institution includes an educational institution.

16. The method of claim 15, wherein said compensating includes funding a scholarship at the educational institution.

17. The method of claim 16, further comprising registering the institution with the processor.

18. The method of claim 14, further comprising:

receiving an identifier from the first client; and

wherein said identifying includes matching the identifier from the first client with the institution.

19. The method of claim 18, wherein the identifier includes an email address.

20. The method of claim 18, wherein the identifier includes a network address.

21. The method of claim 1, wherein the network includes the Internet.

22. The method of claim 1, wherein at least one of the clients include a personal computer.

23. The method of claim 1, wherein said sending the first price includes encoding the first price into a web page.

24. The method of claim 1, wherein said delivering includes physically transporting the item to the client.

25. The method of claim 1, wherein the item includes music.

26. The method of claim 1, wherein the item includes text.

27. The method of claim 1, where the item includes a video content.

28. The method of claim 1, wherein the item includes a picture.

29. The method of claim 1, wherein the item includes software.

30. The method of claim 1, wherein the item is selected from a group consisting of goods and services.

31. A method, comprising:

sending a first price of an item for sale from a processor to one or more clients over a network;

receiving one or more orders for the item at the first price from one or more of the clients;

delivering the item to the one or more clients that ordered the item at the first price;

pricing the item at a second price with the processor based at least on the one or more orders at the first price;

sending the second price over the network to one or more clients; and

wherein said pricing includes;

determining profit at the first price is less than a best profit for previous price levels with the processor;

determining a difference between a best price at which the best profit for the previous price levels was obtained and the first price is less than a minimum limit; and

setting the second price to a randomly adjusted price within a range about the best price.

32. The method of claim 31, wherein the minimum limit is one-percent of the best price.

33. The method of claim 31, wherein the item includes music.

34. The method of claim 31, wherein the first price is an initial price.

35. The method of claim 34, further comprising receiving the initial price from a supplier of the item over the network.

36. The method of claim 34, further comprising setting the initial price with the processor based on historical data for the item.

37. The method of claim 31, further comprising:

wherein the one or more clients that ordered the item at the first price include a first client; and

debiting at least the first price from an account of the first client with the processor.

38. The method of claim 31, wherein said delivering the item includes transmitting the item from the processor to the one or more clients that ordered the item at the first price over the network.

39. The method of claim 31, wherein said delivering the item includes transmitting the item from a content supplier device for the item to the one or more clients that ordered the item at the first price.

40. The method of claim 31, wherein said delivering includes physically transporting the item to the client.

41. The method of claim 31, further comprising

wherein the one or more clients that ordered the item at the first price include a first client;

wherein the network includes an institutional network operated by an institution and the first client is operatively coupled to the processor through the institutional network;

identifying the first client as a member of the institution with the processor; and

compensating the institution for the order of the item at the first price from the first client.

42. A method, comprising:

sending a first price of an item for sale from a processor to one or more clients over a network;

receiving one or more orders for the item at the first price from one or more of the clients;

delivering the item to the one or more clients that ordered the item at the first price;

pricing the item at a second price with the processor based at least on the one or more orders at the first price;

sending the second price over the network to one or more clients;

receiving one or more second orders forte item at the second price;

wherein said pricing includes determining the second price based on time between the one or more orders at the first price and the one or more second orders at the second price;

wherein said pricing includes determining an average time between a number of previous orders; and

wherein said pricing includes at least one of;

(i) determining if the time between the one or more orders at the first price and the one or more second orders at the second price is less then the average time between the number of previous orders and increasing the first price to the second price if the time between the one or more orders at the first price and the one or more second orders at the second price is less than the average time between the number of previous orders, wherein the second price is greater than the first price, and

(ii) determining if the time between the one or more orders at the first price and the one or more second orders at the second price is greater than the avenge time between the number of previous orders and decreasing the first price to the second price if the time between the one or more orders at the first price and the one or more second orders at the second price is greater than the average time between the number of previous orders, wherein the second price is less than the first price.

43. The method of claim 42, wherein the item includes music.

44. The method of claim 42, wherein the first price is an initial price.

45. The method of claim 44, further comprising receiving the initial price from a supplier of the item over the network.

46. The method of claim 44, further comprising setting the initial price with the processor based on historical data for the item.

47. The method of claim 42, further comprising:

wherein the one or more clients that ordered the item at the first price include a first client; and

debiting at least the first price from an account of the first client with the processor.

48. The method of claim 42, wherein said delivering the item includes transmitting the item from the processor to the one or more clients that ordered the item at the first price over the network.

49. The method of claim 42, wherein said delivering the item includes transmitting the item from a content supplier device for the item to the one or more clients that ordered the item at the first price.

50. The method of claim 42, wherein said delivering includes physically transporting the item to the client one or more clients that ordered the item at the first price.

51. The method of claim 42, further comprising:

wherein the one or more clients that ordered the item at the first price include a first client;

wherein the network includes an institutional network operated by an institution and the first client is operatively coupled to the processor through the institutional network;

identifying the first client as a member of the institution with the processor; and

compensating the institution for the order of the item at the first price from the first client.

52. The method of claim 42, further comprising:

receiving a minimum price for the item from a supplier of the item; and

wherein said decreasing the first price to the second price includes setting the second price of the item to the minimum price for the item.

53. An apparatus, comprising:

memory containing at least one item, wherein the item includes media content;

a processor operatively coupled to said memory and responsive to input over a network from one or more clients, said processor being operable to dynamically adjust pricing of the item, said processor being operable to deliver the item from memory to the one or more clients that order the item at a dynamically adjusted price;

wherein said processor is operable to adjust the pricing of the item by comparing profits generated by the item at different price levels;

wherein the network includes the Internet;

wherein said processor is operable to increase the pricing of the item when profit at a current price for the item is at least greater than a previous best profit for the item;

wherein said processor is operable to increase the pricing of the item when the profit at the current price is at least equal to the previous best profit for the item; and

wherein said processor is operable to increase the pricing of the item by a random percentage above the current price.

54. The apparatus of claim 53, wherein the random percentage is within a specified range.

55. An apparatus, comprising:

memory containing at least one item, wherein the item includes media content;

a processor operatively coupled to said memory and responsive to input over a network from one or more clients, said processor being operable to dynamically adjust pricing of the item, said processor being operable to deliver the item from memory to the one or more clients that order the item at a dynamically adjusted price;

wherein said processor is operable to adjust the pricing of the item by comparing profits generated by the item at different price levels;

wherein the network includes the Internet;

wherein said processor is operable to decrease the pricing of the item when profit at a current price for the item is less than a previous best profit at a previous best price for the item; and

wherein said processor is operable to decrease pricing of the item to halfway between the current price and the best price.

56. An apparatus, comprising:

memory containing at least one item, wherein the item includes media content;

a processor operatively coupled to said memory and responsive to input over a network from one or more clients, said processor being operable to dynamically adjust pricing of the item, said processor being operable to deliver the item from memory to the one or more clients that order the item at a dynamically adjusted price;

wherein said processor is operable to adjust the pricing of the item by comparing profits generated by the item at different price levels;

wherein the network includes the Internet; and

wherein said processor is operable to randomly adjust the pricing of the item within a specified range around a best price at which a best profit for the item was previously obtained when there is a predetermined price difference between the current price and the best price.

57. The apparatus of claim 56, wherein the predetermined price difference is one-percent of the best price.