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:
Oct. 21, 2008
Filed:
Jun. 19, 2006
Claudia Keser, Shrub Oak, NY (US);
Tomasz Nowicki, Briarcliff Manor, NY (US);
Grzegorz Swirszcz, Ossining, NY (US);
Claudia Keser, Shrub Oak, NY (US);
Tomasz Nowicki, Briarcliff Manor, NY (US);
Grzegorz Swirszcz, Ossining, NY (US);
International Business Machines Corporation, Armonk, NY (US);
Abstract
The present invention provides a system and method for determining the prices and order quantities that maximize a retailer's expected profit by using a multi-dimensional distribution of the highest prices that customers are willing to pay. This is novel, as well in the literature as in the patent database. Brand switching is dealt with, taking into account that consumers who come into the store with a-priori preferences for products build a-posteriori preferences at the point of purchase based on actual retail prices and availabilities in the store.