Real-Time Individual Price Adjustments via User Interest Monitoring
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Solution Overview
Problem
Current online pricing systems, such as online bargaining and automated price management, face challenges in real-time price adjustments, including high transaction costs, inability to verify customer willingness to pay, and lack of perfect price differentiation, as well as limitations in circumventing bot protection mechanisms.
Innovation Solution
A system that monitors user interest through network communications, uses a database to determine individual willingness to pay, and adjusts prices in real-time based on predefined rules, allowing for perfect price differentiation and individual price manipulation within legal contracts, without requiring merchant involvement.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If online bargaining system is used for real-time price adjustment, then price flexibility is improved, but transaction costs increase
Solution Approach 1:
The system enables automated price adjustment through monitoring user communications and automatically determining willingness to pay, eliminating the need for manual bargaining between parties. The system serves itself by automatically initiating and executing price adjustments based on monitored data, reducing transaction costs while maintaining price flexibility.
Solution Approach 2:
The patent replaces the mechanical bargaining process between human parties with an automated electronic system that monitors communications and automatically adjusts prices. This substitution eliminates the need for direct interaction and negotiation, significantly reducing transaction costs while preserving real-time price adaptability.
2Adaptability or versatility
If online bargaining system is used for real-time price adjustment, then price negotiation capability is improved, but verification of customer willingness to pay becomes more difficult
Solution Approach 1:
The system monitors user communications to gather feedback about their interest and willingness to pay for products. By analyzing this feedback data, the system can verify customer willingness to pay with greater precision than traditional bargaining systems, while maintaining real-time price negotiation capability.
Solution Approach 2:
The system performs preliminary analysis of user communications and interest levels before executing price adjustments. This preliminary action allows the system to verify willingness to pay in advance, ensuring accurate price setting while maintaining negotiation capability.
3Productivity
If automated price management system is used based on competitor analysis, then price adjustment capability is improved, but perfect price differentiation is prevented
Solution Approach 1:
The system applies different pricing strategies to different individual users based on their specific communications and interest levels. Each user receives a customized price reflecting their individual willingness to pay, achieving perfect price differentiation while maintaining automated price adjustment capability.
Solution Approach 2:
The patent segments the market at the individual user level rather than using broad competitor-based pricing. By dividing the customer base into individual segments and analyzing each user's communications separately, the system achieves precise price differentiation for each customer while maintaining automated efficiency.
4Loss of information
If automated price management system uses web crawling for competitor analysis, then market intelligence is improved, but bot protection mechanisms prevent successful data collection
Solution Approach 1:
The system uses an intermediary approach by monitoring user communications and interest expressions rather than directly crawling competitor sites. This intermediary method of gathering market intelligence through user behavior data avoids bot protection mechanisms while still obtaining reliable market information for price adjustment.
Data Source
AI summary
A method, system and computer program product for adjusting prices for goods and services offered using a computer network. In one embodiment, data relating to goods and services offered over the computer network by a number of entities using the computer network are stored in a database, communications are monitored, using the computer network, to identify an interest of a user, and this interest of the user and the data in the database are used to identify one of the entities to offer a specified product or service to the user. Information is obtained relating to a price for the specified product or service, and this information and the data in the database are used to determine an adjusted price for the specified product or service. In one embodiment, the information the user has about a price for the specified product or service is used to determine the adjusted price.