Method for pricing products in a retail store
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United States of America Patent
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N/A
Issued Date -
Apr 13, 2006
app pub date -
Mar 4, 2005
filing date -
Oct 13, 2004
priority date (Note) -
Abandoned
status (Latency Note)
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Abstract
A method for pricing products such as goods that are sold in a retail store. The method of the present invention is carried out using the following five-step process: (a) evaluating transaction data for a plurality of consumers; (b) classifying the plurality of consumers into a plurality of consumer groups; (c) identifying a product category; (d) classifying products in the product category into a plurality of product groups, the product groups being based at least in part on the plurality of consumer groups; and (e) setting the retail price of a product in the product category, the retail price being based at least in part on the product group into which the product is classified.
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