The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Jan. 22, 2008
Filed:
Oct. 26, 2004
Thomas Kelly, Dade City, FL (US);
Nicholas M. Kiefer, Ithaca, NY (US);
Alex Wohlhueter, Riverview, FL (US);
Thomas Kelly, Dade City, FL (US);
Nicholas M. Kiefer, Ithaca, NY (US);
Alex Wohlhueter, Riverview, FL (US);
Revenue Management Solutions, Inc., Tampa, FL (US);
Abstract
A method of determining a price sensitivity index for one or more retail units is based on the relation between profits, sales or traffic and a fixed weight price index based on information from individual retail units. Statistical regression and the theory of the single-product firm is used to analyze the relation between changes in performance variables and changes in the price index, leading to a unit-specific index of sensitivity. This information allows stores to be sorted into those which can see price aggression, those which cannot, and those which are likely to respond to promotions.