Market-based price optimization system
US8463639B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Jun 8, 2012 |
| Grant date | Jun 11, 2013 |
| Priority date | — |
| Expiry date | Jun 8, 2032 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/00
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Disclosed is a market-based software system that will help user-retailers manage price and inventories more effectively. The system will take advantage of available price and sales data to provide pricing recommendations that will achieve a retail user's objectives. The system will offer a solution that will allow for pricing improvement shortly after installation by utilizing data that is readily available. The system will recommend price changes that help a user achieve specified objectives such as contribution, sales volume, desired margins, and the like.The system can also collect and process price and sales data on an ongoing basis, which can enable improved estimates of customer price sensitivity and performance on a category-by-category basis. This data can be used to improve further pricing decisions.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.