Method and system for generating pricing recommendations
US8321262B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Jun 4, 2008 |
| Grant date | Nov 27, 2012 |
| Priority date | — |
| Expiry date | Sep 28, 2031 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q30/0283
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Systems and methods for optimizing marketing strategies. Various embodiments implement methods which can include generating a plurality of candidate solutions which satisfy pricing rationality constraints. The candidate solutions can be generated when processing resources are available for performing a Monte Carlo algorithm. The candidate solutions can be stored and a master and trade off metric can be selected. Values for these selected metrics can be evaluated (at the candidate solutions) and then input into the approximate efficient frontier algorithm. The algorithm can output an approximate efficient frontier. Users can select any of the efficient solutions on the frontier to obtain associated pricing recommendations by mousing over the efficient frontier. Various metrics associated with the efficient frontier may be updated at about the same time as the master and trade off metrics are selected.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.