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:
Apr. 20, 2010
Filed:
Jul. 12, 2004
Thomas Kelly, Dade City, FL (US);
Nicholas M. Kiefer, Ithaca, NY (US);
Sebastián Fernández, Tampa, FL (US);
Thomas Kelly, Dade City, FL (US);
Nicholas M. Kiefer, Ithaca, NY (US);
Sebastián Fernández, Tampa, FL (US);
Revenue Management Solutions, Inc., Tampa, FL (US);
Abstract
A method of grouping retail units of a set of units in a chain uses, store and market-specific characteristics, including store profitability, to group stores into like economic markets. The relation between profits and prices defines markets; stores facing the same relation, that is the same profit function, are in the same economic market. These stores can follow similar pricing and promotion strategies. Multiple regression analysis is used to identify those characteristics that affect the relation between prices and profits (not simply variables correlated with profits). Upon suitable standardization and weighting, these variables are subsequently used with a statistical cluster analysis to classify units in two markets. Based on the estimated relationship and homegenity valuations from discriminant analysis, new stores can be more accurately added to the appropriate group.