Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Including point of sale terminal or electronic cash register
Patent
1997-10-10
1999-11-16
MacDonald, Allen R.
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Including point of sale terminal or electronic cash register
705 1, 705 5, 705 14, 705 16, 705 23, 705 26, 34082549, G06F15100, G06F 1760
Patent
active
059874252
ABSTRACT:
A variable margin pricing system and method that generates retail prices based on customer price sensitivity. Products are grouped into pools from a first pool for most price sensitive products to a last pool for least price sensitive products. A logical relationship between margins and the customer price sensitivity is determined for the products. Based on this logical relationship and each product's pool assignment, the system and method calculate each product's margin and corresponding retail price. The method is also used to generate retail price labels having retail prices based on customer price sensitivity for the products to which the labels are to be affixed or located proximate.
REFERENCES:
patent: 4962466 (1990-10-01), Revesz et al.
patent: 5250789 (1993-10-01), Johnsen
patent: 5794211 (1998-08-01), Goodwin, III et al.
patent: 5812985 (1998-09-01), Lailing et al.
patent: 5822736 (1998-10-01), Hartman et al.
patent: 5839116 (1998-11-01), Goodwin, III
patent: 5870714 (1999-02-01), Shetty et al.
Sirvanci, Mete B.; An Empirical Study of Price Thresholds and Price sensitivity; Journal of Applied Business Research; V.2; n 2; p. 43, Spr'93.
Christman, Ed.; Majors Irket by Retallers' Markups on Developing Titles; Billboard;; p. 1, Nov. 11, 1993.
Hartman David J.
Lewandowski Frank
Kanof Pedro R.
MacDonald Allen R.
United Hardware Distributing Company
LandOfFree
Variable margin pricing system does not yet have a rating. At this time, there are no reviews or comments for this patent.
If you have personal experience with Variable margin pricing system, we encourage you to share that experience with our LandOfFree.com community. Your opinion is very important and Variable margin pricing system will most certainly appreciate the feedback.
Profile ID: LFUS-PAI-O-1337286