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Automated synchronous product pricing and advertising system
| Details |
Inventors: Freeny, Jr., Charles C.;
Assignee: Automated Business Companies (Irving, TX)
Primary Examiner: MacDonald; Allen R.
Assistant Examiner: Kanof; Pedro R.
Attorney, Agent or Firm: Dunlap, Codding & Rogers, P.C.
An automated product pricing system including a physical store system, a virtual store system, and a control system. The physical and virtual store systems are capable of transmitting sales data indicative of the number of sales of identified respective products. The control system is adapted to receive the sales data from the physical store system and the virtual store system. In response thereto, the control system generates price change data including a changed price of an identified product based on the sales data received from at least one of the physical and virtual store systems. The price change data is then transmitted by the control system to at least one of the physical and virtual store systems to thereby change the price of the identified product. |
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DETAILED DESCRIPTION OF THE INVENTION Referring now to the drawings, and more particularly to FIG.
1, shown therein is an automated synchronous product pricing and advertising system 10 constructed in accordance with the present invention.
Broadly, the automated synchronous product pricing and advertising system 10 includes an owner control system 12, a plurality of physical store systems 14, a plurality of product supplier systems 16, at least one virtual store system 18 and a competition pricing information system 20.
Only two of the physical store systems 14, and product supplier systems 16 are shown in FIG.
1 for purposes of clarity.
The respective physical store systems are designated in FIG.
1 by the general reference numerals 14a and 14b.
The respective product supplier systems are designated in FIG.
1 by the general reference numerals 16a and 16b.
The owner control system 12 is adapted to communicate with the physical store systems 14a and 14b via respective signal paths 24a and 24b.
The owner control system 12 also communicates with the product supplier systems 16a and 16b via respective signal paths 26a and 26b, the virtual store system 18 via a signal path 28 and the competition pricing information system 20 via a signal path 30.
It is envisioned that the physical store systems 14 be located in establishments having product locations, such as shelves, boxes, slots, areas, or the like for storage and/or sale of products.
For example, the establishments in which the physical store systems 14 are located can be retail supermarkets, drug stores, home building supply stores, inventory stocking areas or assembly sites at manufacturing or distribution facilities.
It is envisioned that the product supplier systems 16 be located at establishments which serve to supply products to the stores where the physical store systems 14 are located or to a warehouse for distribution after an order is received by the virtual store system 18.
The competition pricing information system 20 can include a program for obtaining information from an internet search engine, such as YAHOO or EXCITE which look for the prices at which predetermined competitors are selling the same or similar products
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Finance 
