Demand aggregation through online buying group
US6604089B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Dec 30, 1999 |
| Grant date | Aug 5, 2003 |
| Priority date | — |
| Expiry date | Dec 30, 2019 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q30/0641
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
An online buying group (referred to herein as a “co-op”) is formed for the specific purpose of purchasing a particular product at (102) by defining a start time, end time, critical mass, any minimum number of units offered, any maximum number of units offered, starting price and product cost curve. As data is gathered from buyers, by means of their making binding purchase offers, the co-op is modified at (108) using a pricing tool, so as to take into account for this market data in the definition of the price curve. A buyer chooses a product co-op of interest at (114). The buyer is presented with the following essential co-op information: current price, closing time, next price level (as defined by a price curve visibility window and the price curve) sufficient to entice the buyer to make an offer. Once a buyer has made up his mind, the decision must be made at (116) to offer a purchase price which includes the current price, guaranteeing availability if critical mass has been achieved, or to make an offer at a lower price range that can be accepted only if the co-op price drops to that level, which may not occur. Given a decision to make an offer at such lower price, t…
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.