Model-based promotion and price computation system and method
AssigneePhilip Morris USA Inc.
InventorWilliam R. SWEENEY
Life of this patent
Estimating the term…
Abstract
A system and method for providing model-based promotion and price computation is described in which promotional offers in the form of promotion information from a manufacturer are combined with price determination parameters from the retailer to calculate a final retail price. The system prevents fraud by eliminating the heavy dependence on unverifiable trust between the retailer and manufacturer and by assuring that the consumer will receive the benefit of the promotions intended by the manufacturer.
Claims18
A method for monitoring a contractual agreement between a retailer and manufacturer in a model-based promotion and price computation model over a network, comprising:
- implementing a sales promotion through a promotion and price computation model based on information and data received from manufacturer and retail computing devices, respectively;
- monitoring a plurality of sales parameters received from the retail computing device;
- calculating, in real-time, an adjusted retail price of goods based on at least one of the monitored sales parameters;
- transmitting the adjusted retail price of goods to the retail computing device;
- and
- auditing the sales promotion for proper implementation based on the plurality of sales parameters.
A device for monitoring a contractual agreement between a retailer and manufacturer over a network, the device comprising:
- a communication interface for communicating information including pricing data with the retailer and the manufacturer over the network;
- and
- a processor configured to execute a promotion and price computation model in which a plurality of sales parameters received from a retail computing device are monitored, an adjusted retail price of goods based on at least one of the monitored sales parameters is calculated in real-time, and a sales promotion of the manufacturer is audited for proper implementation by the retailer based on the plurality of sales parameters.
A non-transitory computer readable medium having recorded thereon program code for monitoring a contractual agreement between a retailer and manufacturer in a model-based promotion and price computation model over a network, which when the computer readable medium is placed in communicable contact with a computing device the program code causes the computing device to execute a method comprising:
- implementing a sales promotion through a promotion and price computation model based on information and data received from manufacturer and retail computing devices, respectively;
- monitoring a plurality of sales parameters received from the retail computing device;
- calculating, in real-time, an adjusted retail price of goods based on at least one of the monitored sales parameters;
- transmitting the adjusted retail price of goods to the retail computing device;
- and
- auditing the sales promotion for proper implementation by the retailer based on the plurality of sales parameters.
Dependencies are inferred from the claim text.