Competing simulator in multi-channel retailing environment among multiple retailers
US8386298B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Aug 18, 2010 |
| Grant date | Feb 26, 2013 |
| Priority date | — |
| Expiry date | Dec 2, 2030 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q30/02
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A system, method and computer program product for providing the ability for retailers to devise a current channel strategy (e.g., adaptive price setting) that considers competitors in a dynamic competing environment, and that enables computing a competitive advantage of a channel. To estimate a price for selling a product j in a commerce channel comprises: a) receiving, at a processor device, real market data including sales and price history data of a product j sold by one or more retailers over one or alternate sales channels t; generating, by the processor device, a competitive advantage parameter value based on the sales and price history data; and, computing, utilizing the competitive advantage parameter value, an optimum price for a particular product to be marketed in one of the one or alternate sales channel.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.