System and method for classifying relevant competitors
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United States of America Patent
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Nov 9, 2021
Grant Date -
Apr 9, 2020
app pub date -
Dec 10, 2019
filing date -
Nov 15, 2012
priority date (Note) -
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status (Latency Note)
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Abstract
Competitors are classified in terms of products the competitors offer. A product set is generated from product information received from a user. Also, a competitor set is generated, where the competitor set comprises at least one competitor determined to be relevant to one or more products in the product set. A target price rule is generated that is operative to change a price offered by the user for the at least one product. A competitor's relevancy can be determined by considering factors such as: (1) unique visitors to the competitor's website, (2) reviews on the competitor's website (3), ratings on the competitor's website, (4) absolute number of products common to the user's website and the competitor's website, (5) percentage number of products common to the user's website and the competitor's website, and (6) number of products offered by the competitor that comprise the product set.
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