Method and apparatus for determining promotion pricing parameters

US10192243B1 · kind B1 · utility

Assignee

• Groupon, Inc. · US

Inventors

• Latife Genc-Kaya · Santa Clara, US
• Kamson Lai · Palo Alto, US
• Francisco Jose Larrain Wicha · Palo Alto, US
• Gaston L'Huillier · Cambridge, US

Key dates

• Filing date: Jun 10, 2013
• Grant date: Jan 29, 2019
• Expiry date: Jun 8, 2034

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q30/0247
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A method, apparatus, and computer program product are disclosed to improve selection of promotion pricing parameters. The method may determine one or more promotion pricing parameters for a promotion that is offered by a promotion and marketing service. The method includes generating one or more predictive models based on historical promotion performance data and generating a revenue equation using the one or more predictive models. The revenue equation provides an estimate of a revenue received by the promotion and marketing service based on the one or more predictive models. The method further includes determining an estimated revenue using the revenue equation based on one or more input sets of promotion pricing parameters provided as input to the revenue equation, and selecting at least one of the input sets of promotion pricing parameters for the promotion based on the estimated revenue. A corresponding apparatus and computer program product are also provided.