Back to results
US 8,412,560 B1Granted
Price optimization using current offers
AssigneeAmazon Technologies, Inc.
InventorsFaisal Masud, Stacy Saal, Paul D. Ohlhaut, Josiah P. Olivieri, Umair Bashir, Xiao Yu, Tao Hu
Life of this patent
Estimating the term…
Abstract
Disclosed are various embodiments for optimizing prices of items using current offers. Numerous current offers to sell an item are determined from a subset of sellers in an electronic marketplace. Each one of the subset of sellers is associated with a respective reputational score that meets a minimum threshold. A competitive price is generated for the item based at least in part on an average marketplace price determined from the current offers.
Claims26
A non-transitory computer-readable medium storing a program executable in at least one computing device, the program comprising:
- code that determines a plurality of current offers to sell an item from a subset of sellers in an electronic marketplace, each one of the subset of sellers being associated with a quantity of customer feedback ratings meeting a minimum quantity threshold and an average customer feedback rating meeting a minimum rating threshold;
- code that determines a plurality of past sale prices for the item being ordered through the electronic marketplace during a predefined time period;
- code that calculates an average past sale price for the item in a common one of a plurality of predefined item classifications using the past sale prices;
- code that calculates an average marketplace price for the item in the common one of the predefined item classifications using the current offers;
- code that blends the average past sale price and the average marketplace price to generate a normalized competitive price for the item;
- code that converts the normalized competitive price to a competitive price for the item in another one of the predefined item classifications;
- code that sets the competitive price to a price ceiling associated with the item when the competitive price is above the price ceiling;
- code that sets the competitive price to a price floor associated with the item when the competitive price is below the price floor;
- code that does not change the competitive price when the competitive price is not above the price ceiling and when the competitive price is not below the price floor;
- and
- code that offers the item for sale in the specified item condition at the competitive price.
8 more elements
A system, comprising:
- at least one computing device;
- and
- a price optimization application executable in the at least one computing device, the price optimization application comprising:
- logic that determines a plurality of current offers to sell an item from a subset of sellers in an electronic marketplace, each one of the subset of sellers being associated with a respective reputational score that meets a minimum threshold;
- logic that determines a respective average seller price for the item from the current offers of each respective one of the subset of sellers;
- logic that determines a corresponding seller reputational weight for each respective average seller price based at least in part on the respective reputational score associated with the respective one of the subset of sellers;
- and
- logic that generates a competitive price for the item based at least in part on an average marketplace price determined by blending the average seller prices according to the corresponding seller reputational weights.
5 more elements
A method, comprising the steps of:
- determining, in at least one computing device, a plurality of current offers to sell an item from a subset of sellers in an electronic marketplace, the current offers being stored in a memory, each one of the subset of sellers being associated with a respective reputational score that meets a minimum threshold;
- determining, in the at least one computing device, a plurality of past sale prices for the item from a plurality of sellers in the electronic marketplace, the past sale prices being stored in the memory;
- determining, in the at least one computing device, a respective average seller price for the item from the current offers of each respective one of the subset of sellers;
- determining, in the at least one computing device, a corresponding seller reputational weight for each respective average seller price based at least in part on the respective reputational score associated with the respective one of the subset of sellers;
- determining, in the at least one computing device, an average marketplace price for the item by blending the average seller prices according to the corresponding seller reputational weights;
- and
- generating, in the at least one computing device, a competitive price for the item based at least in part on the average marketplace price and the past sale prices.
4 more elements
Dependencies are inferred from the claim text.