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:
Feb. 12, 2013
Filed:
Sep. 30, 2008
Loren Williams, Decatur, GA (US);
Xingchu Liu, Austin, TX (US);
Reetabrata Mookherjee, Austin, TX (US);
Shi Zhong, Austin, TX (US);
Loren Williams, Decatur, GA (US);
Xingchu Liu, Austin, TX (US);
Reetabrata Mookherjee, Austin, TX (US);
Shi Zhong, Austin, TX (US);
Zilliant Incorporated, Austin, TX (US);
Abstract
To determine pricing recommendations for goods and service products in a business-to-business environment, a set of transaction data corresponding to a set of products are processed to generate a set of pricing recommendations optimized according to an objective. Furthermore, a set of product segments may be determined, transaction data may be associated with one or more of the product segments and a demand model and associated price elasticity may be formulated for one or more of the product segments based upon the transaction data associated with the segment. Using these formulated price elasticities, pricing recommendations for each product may be determined for each of a set of customers. Using an optimization process, price elasticities are used to determine price dependent entity goals for any combination of products, customers and sets of prices, using a mathematical objective function.