Architecture and methods for generating intelligent offers with dynamic base prices
AssigneeEversight, Inc.
InventorsJamie Rapperport, Michael Montero, David Moran
Life of this patent
Estimating the term…
Abstract
Methods and apparatus for generating intelligent offers with base prices are provided. In one embodiment, a promotion generator receives a current product base price, and also receives or calculates a remaining promotional program budget, a remaining promotional program duration, and a minimum discounted price for the product using the current product base price and any available previous base price data for the promoted product, creating or updating a predictive model of future product base prices.
Claims10
A computer-implemented method for managing a promotional program for a product, the promotional program having an associated budget and duration that may be subdivided into time units, the product having a base price that may vary over time, the method comprising:
- receiving or calculating:
- a remaining promotional program budget;
- a remaining promotional program duration;
- and
- generating a model, using predictive analytic techniques, of how a product base price varies over time, as commodity and stock levels fluctuate;
- calculating a plurality of future product base prices, each future base price corresponding to a week t within the remaining promotional program duration, using the model;
- and
- calculating a plurality of discounts each discount for the week t, and each discount optimized to maximize a sales volume for each given week t, subject to the following constraints:
- i) one minus each of the plurality of discounts multiplied by the associated future base price to yield a first metric, wherein the first metric is above the minimum discounted price;
- and
- ii) the discount for week t multiplied by the associated base price for week t multiplied by the associated sales volume for week t summed over the weeks t equal to 1 to n to yield a second metric, wherein the second metric is below the remaining promotional budget.
Dependencies are inferred from the claim text.