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US 10,332,139 B2Granted
Dynamic re-pricing of items on electronic marketplaces and/or online stores
AssigneeFeedvisor Ltd.
InventorsEyal Lanxner, Victor Rosenman
Life of this patent
Estimating the term…
Abstract
A method of dynamically re-pricing items, comprising: a) Receiving from a seller a sale policy for one or more items offered for sale by one or more plurality of vendors. b) Creating a state machine to execute the sale policy by adjusting a price of the one or more items. c) Collecting commerce information by monitoring in real time a plurality of prices given to the one or more items by the one or more vendors. d) Dynamically adjusting a plurality of price setting rules according to analysis of said commerce information. e) Executing the state machine to select one or more of the plurality of price setting rules and modifying the price according to one or more selected price setting rule.
Claims37
A computer-implemented method of dynamically re-pricing items offered for sale on an electronic marketplace or an online store, the method executed by a re-pricing system comprising at least one processing unit and one or more software modules configured and operable to communicate data with said electronic marketplace or online store, the method comprising:
- receiving, at a user interface module, from a client terminal of a seller, parameters defining goals of a sale policy for sale of at least one item in said electronic marketplace or online store:
- creating, at a state machine module, a state machine configured and operable to execute said sale policy by causing an adjustment to a price of said at least one item, wherein the creating further includes automatically determining by the state machine module, an aggressiveness level based on the parameters defining goals of said sale policy, wherein the aggressiveness level controls a rate of said state machine in causing said adjustment to said price to achieve the sale goals defined in said sale policy;
- monitoring in real time, by the monitor module, a plurality of prices given to said at least one item in said electronic marketplace or online store and generating preliminary commerce data indicative thereof, said monitoring being performed within a time period derived from said automatically determined aggressiveness level;
- analyzing, at an analysis module, the preliminary commerce data and dynamically producing a plurality of price setting rules including automatically adjusting at least one of said plurality of price setting rules based on said analysis of the preliminary commerce data to adapt the at least one of the price setting rules to changing trade in the electronic marketplace or online store dynamically in real time and ensure that price adjustments occur within the parameters defining goals of the sale policy, the analysis module evaluating the parameters defining goals of the sale policy with respect to the preliminary commerce information to generate rule selection criteria and at least one data input requirement for adjusting the at least one of the price setting rules, said analyzing being performed using the preliminary commerce data generated within the time period derived from said automatically determined aggressiveness level;
- monitoring, by the monitoring module, prices given to said at least one item in said electronic marketplace or online store, to generate current commerce data;
- responsive to the aggressiveness level, the rules selection criteria, and the current commerce data, executing said state machine by the state machine module to select at least one of said plurality of price setting rules, adjusted based on analysis of the preliminary commerce data and calculate a new price for said at least one item in said electronic marketplace or online store using the adjusted at least one of said price setting rules;
- responsive to the aggressiveness level, controlling, by the state machine, a rate of adjustment of said price to achieve the sale goals defined in said sale policy by adjusting the at least one data input requirement for implementing a price adjustment to the calculated new price by the state machine, the at least one data input requirement including at least one of a time period allocated for collecting commerce data, an amount of commerce data analyzed, an amount of commerce data required for statistical analysis, and a scope of statistical analysis;
- implementing, by the state machine, a price adjustment of the at least one item from a current price to the new calculated price responsive to analysis of commerce data meeting the adjusted at least one data input requirement.
5 more elements
A re-pricing system for dynamically re-pricing items offered for sale on an electronic marketplace or an online store, wherein said system comprises:
- at least one processor configured and operable to communicate data with said electronic marketplace or online store over a data network;
- and
- one or more computer-readable media storing computer-executable modules comprising:
- an input module configured and operable to communicate with a client terminal and receive therefrom parameters defining goals of a sale policy for at least one item offered for sale on said electronic marketplace or online store, said at least one processing unit configured to automatically determine an aggressiveness level based on the parameters defining goals of said sale policy;
- a monitor module configured and operable to communicate data with said electronic marketplace or online store for monitoring, in real time within a time period derived from said automatically determined aggressiveness level, a plurality of prices given to said at least one item in said electronic marketplace or online store and generating preliminary commerce data indicative thereof, and thereafter to monitor prices given to said at least one item in said electronic marketplace or online store, to generate current commerce data;
- an analysis module configured and operable to analyze the preliminary commerce data and dynamically produce a plurality of price setting rules accordingly, including automatically adjusting at least one of said plurality of price setting rules based on said preliminary commerce data to adapt the at least one of the price setting rules to changing trade in the electronic marketplace or online store dynamically in real time and ensure that price adjustments occur within the parameters defining goals of the sale policy, the analysis module evaluating the parameters defining goals of the sale policy with respect to the preliminary commerce information to generate rule selection criteria and at least one data input requirement for adjusting the at least one of the price setting rules, said analyzing being performed using the preliminary commerce data generated within the time period derived from said automatically determined aggressiveness level;
- and
- a state machine module configured and operable, responsive to the aggressiveness level, the rules selection criteria, and the current commerce data, to select at least one of said plurality of price setting rules, adjusted based on the analysis of the preliminary commerce data and cause an adjustment to a price from a current price to a new calculated price for said at least one item in said electronic marketplace or online store using the adjusted at least one of said price setting rules;
- wherein, responsive to the aggressiveness level, the state machine controls a rate of adjustment of said price to achieve the sale goals defined in said sale policy by adjusting the at least one data input requirement for price adjustment by a state machine created by the state machine module, including at least one of a time period allocated for collecting the commerce data, an amount of commerce data analyzed, an amount of commerce data required for statistical analysis, and a scope of statistical analysis for adjusting the least one of the plurality of price setting rules;
- the state machine implementing the price adjustment of the at least one item from the current price to the new calculated price responsive to analysis of commerce data meeting the adjusted at least one data input requirement.
7 more elements
A computer-implemented method of dynamically re-pricing items offered for sale on an electronic marketplace or an online store, the method executed by a re-pricing system comprising at least one processing unit and one or more software modules configured and operable to communicate data with said electronic marketplace or online store, the method comprising:
- (a) receiving, at a user interface module, from a client terminal, parameters defining goals of a sale policy for sale of at least one item in said electronic marketplace or online store;
- (b) creating, at a state machine module, a state machine configured and operable to execute said sale policy by causing an adjustment to a price of said at least one item, wherein the creating further includes automatically determining by the state machine module, an aggressiveness level based on the parameters defining goals of said sale policy, wherein the aggressiveness level controls a rate of causing said adjustment to said price to achieve the sale goals;
- (c) monitoring in real time, by the monitor module, a plurality of prices given to said at least one item in said electronic marketplace or online store and generating preliminary commerce data indicative thereof, said monitoring being performed within a time period derived from the aggressiveness level;
- (d) analyzing, at an analysis module, the preliminary commerce data and dynamically producing a plurality of price setting rules including automatically adjusting at least one of said plurality of price setting rules based on said analysis of the preliminary commerce data to adapt the at least one of the price setting rules to changing trade in the electronic marketplace or online store dynamically in real time and ensure that price adjustments occur within the parameters defining goals of the sale policy, the analysis module evaluating the parameters defining goals of the sale policy with respect to the preliminary commerce information to generate rule selection criteria and at least one data input requirement for adjusting the at least one of the price setting rules, said analyzing being performed using the preliminary commerce data generated within the time period derived from said aggressiveness level;
- (e) automatically adjusting said aggressiveness level based on the analysis of the preliminary commerce data to achieve the goals of the sale policy;
- (f) monitoring, by the monitoring module, prices given to said at least one item in said electronic marketplace or online store, to generate current commerce data;
- (g) responsive to the aggressiveness level, the rules selection criteria, and the current commerce data, executing said state machine by the state machine module to select at least one of said plurality of price setting rules, adjusted based on the analysis of the preliminary commerce data and calculate a new price for said at least one item in said electronic marketplace or online store using the adjusted at least one of said price setting rules;
- (h) controlling, by the state machine, based on the automatically defined aggressiveness level, a rate of said state machine in adjusting said price to achieve the sale goals defined in said sale policy by adjusting the at least one data input requirement for implementing a price adjustment to the calculated new price by the state machine, the at least one data input requirement including at least one of:
- a number of samples for the monitoring of the prices of the at least one item in the electronic marketplace or online store within the time period derived from said automatically defined aggressiveness level;
- a scope of statistical analysis;
- and a price amount unit defining size of steps taken based on an amount of data input analyzed for adjusting the price of the at least one item,
- (i) implementing, by the state machine, a price adjustment of the at least one item from a current price to the new calculated price responsive to analysis of commerce data meeting the adjusted at least one data input requirement;
- and
- repeating steps (b) to (i) accordingly.
11 more elements
Dependencies are inferred from the claim text.