Unique Pricing Engine for Customer-Specific Price Generation
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Solution Overview
Problem
Current pricing methods fail to provide unique prices tailored to individual customers, lacking the ability to account for customer-specific information and offering only customized or generalized pricing strategies.
Innovation Solution
A Unique Pricing Engine calculates prices based on customer-specific information, incorporating parameters such as income level, location, and personal data to generate unique prices that can be subsidized through cost buffering resources, providing a competitive advantage to both customers and providers.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If customized pricing strategies are used (inventory, bulk discounts, supply chain costs), then pricing can be adjusted according to business needs, but prices remain generalized and not truly unique to individual customers
Solution Approach 1:
The patent applies local quality by transitioning from generalized pricing segments to individualized pricing for each customer. The system processes customer-specific information (income, location, preferences, purchase history) to generate unique price points tailored to each individual's characteristics, rather than applying the same pricing rules to entire customer groups.
Solution Approach 2:
The patent segments the pricing approach to the finest granularity possible - the individual customer level. By dividing the customer base into individual units and analyzing each customer's specific attributes separately, the system generates customized price points for each person, maximizing the use of customer-specific information.
2Adaptability or versatility
If unique pricing based on customer-specific information is implemented, then prices can be truly personalized, but system complexity increases significantly
Solution Approach 1:
The patent implements a universal pricing platform that handles multiple pricing dimensions (income-based, location-based, preference-based, historical behavior-based) through a single integrated system. This multi-functional approach consolidates what would otherwise require separate pricing systems for each customization dimension, reducing overall complexity.
Solution Approach 2:
The patent introduces a pricing engine as an intermediary layer between the customer database and the transaction system. This mediator processes customer-specific information, applies pricing algorithms, and generates unique price points, simplifying the interaction between complex data sources and the final pricing output.
3Object-affected harmful factors
If cost buffering resources are introduced to subsidize customer prices, then customer prices can be reduced, but the system requires additional resource management infrastructure
Solution Approach 1:
The patent merges the cost buffering resource management with the existing unique pricing engine infrastructure. The resource pool is integrated into the same system that calculates and manages personalized prices, allowing the subsidy mechanism to operate through the existing pricing algorithms without requiring a completely separate resource management system.
Data Source
AI summary
Methods for generating pricing for a product or service according to customer-specific information that is used to calculate a unique price for a service comprising using a Unique Pricing Engine, obtaining parameters from a service provider for the service, obtaining parameters for the service from a customer, setting a benchmark for the price of the service, calculating and generating the unique price for the service with the parameters of the service provider, and providing the unique price of the service to the customer.