Price grabber
OwnerEric Maas, David Platt +1inventors
InventorsEric Maas, David Platt, Jalali Hartman
Life of this patent
Estimating the term…
Abstract
Systems and methods for automatic price monitoring of an online marketplace. The online marketplace is a virtual store (e.g., web-based) for buyers and sellers to exchange goods or products. A system includes a price monitoring module coupled to a market server, and buyer and seller devices. The price monitoring module retains a position garnered by a seller with the lowest price by periodically adjusting a subscribing seller's listing price to beat competing seller prices. The price monitoring module can be configured according to price parameters which gauge how much sellers are willing to concede. The price parameters can include, for example, a default listing price for a product, a decrement amount, a minimum listing price, and the like.
Claims22
A computer-implemented method for product placement on an online marketplace, comprising:
- receiving a listing request for a product offered online by a subscribing seller, the listing request including price parameters that indicate a default listing price and a minimum listing price;
- receiving a lowest listing price of a competing seller for the product;
- and
- responsive to the lowest listing price being lower than the default listing price, reducing the default listing price to at least the lowest listing price.
A method for product placement on an online marketplace, comprising:
- receiving a listing request for a product offered online by a subscribing seller, the listing request including price parameters that indicate a default listing price and a minimum listing price;
- receiving a plurality of listing prices associated with the product;
- and
- adjusting the default listing price such that the subscribing seller is ranked highest among a plurality of sellers offering the product by having a lowest listing price among the plurality of listing prices.
A computer-readable medium storing a computer program product configured to perform a computer-implemented method for product placement on an online marketplace, the method comprising:
- receiving a listing request for a product offered online by a subscribing seller, the listing request including price parameters that indicate a default listing price and a minimum listing price;
- receiving a lowest listing price of a competing seller for the product;
- and
- responsive to the lowest listing price being lower than the default listing price, reducing the default listing price to at least the lowest listing price.
A system for product placement on an online marketplace, comprising:
- an inventory module configured to receive a listing request for a product offered online by a subscribing seller, the listing request including price parameters that indicate a default listing price and a minimum listing price;
- a product listing manager, coupled in communication with the inventory module, the product listing manager configured to receive a lowest listing price of a competing seller for the product;
- and
- a price adjustment module, coupled in communication with the product listing manager, the price adjustment module configured to, responsive to the lowest listing price being lower than the default listing price, reduce the default listing price to at least the lowest listing price.
Dependencies are inferred from the claim text.