The following are some of a wide range of applications for Price Setter and it’s patented transaction arbiter system and method. Price Setter will eventually expand to other cloud categories such as Discount Setter, Ad Setter, Deal Setter and others.
Mobile Comparison Shopping
Many existing Android, iPhone and Microsoft smart phone and tablets’ shopping applications claim to be the “original” and the “most popular application” in the mobile world these days, some of them have won prestigious awards and recognition for “best shopping application” etc., but all of them have one major problem, they have been published after 2007 when the iPhone was born, this is two years after “Price Setter” and the Transaction Arbiter patent was applied for in 2005; in the patent world the date of a patent application takes priority over any subsequent publications.
As demonstrated under our “Case Examples” page, “Price Setter” offers a wide range of features to make comparison shopping a more satisfying experience for both Buyers and Sellers, a true Win-Win deal; Buyers can not only engage Sellers to compete for the best prices but also they can engage similar products and similar manufacturers that offer arbitrated value discounts or arbitrated value coupons when conducting their shopping.
Buyers can also hand enter the value, a picture or the URL of a non-participant competitor’s price or printed or digital coupon or discount in to a field allocated in any application integrated with “Price Setter” and have those prices or values beaten on the spot by the bidding functions of participant competitors.
Electronic Coupons, Discounts, and Deals
Price Setter knows electronic coupons, discounts and deals better than any of the other mobile applications available, why? because Price Setter can generate arbitrated variable value coupons and arbitrated variable value discounts and deals by applying the same competition principles of Transaction Arbiter using bidding parameters and functions custom set by their sponsors, meaning that the value of the coupons or the discount percentages adjust up or down automatically in real time, that way the sponsors do not have to offer high fixed value coupons or discounts across the board all of the time, but only when or if necessary to compete with competitor’s coupons or discounts and only for each individual transaction.
UPC Codes, and QR Codes
Price Setter cloud database will eventually store millions of UPC codes, QR codes and other codes and operate as central source of code bidding functions where manufacturers can deposit and store custom code bidding parameters and functions to their individual product codes and be able to offer via Sellers “variable value coupons” and “variable value discounts” to compete with coupons and discounts from similar products from other manufacturers; from Price Setter active Sellers and providers anywhere in the world can “pull” this stored data and integrate it in to searches and price quotes requested by Buyers and obtain an even better price, bypassing coupon printing and distribution and coupon processing and handling costs by the Sellers or service providers, clearing Houses and their Agents.
Real Time Biding For Targeted Advertising
Price Setter and Transaction Arbiter patent also covers targeted advertising in combination with its real time bidding. On July 28, 2011 Google published a white paper about “The Arrival of Real-Time Bidding (RTB)” and what it means for media buyers.
Google’s white paper makes reference to the initiation of Real Time Bidding around 2009 and 2010 another perfect example of Price Setter being ahead of its time back in 2005 when its patent application was filed.
Millions of targeted ads impressions are published each and every day on existing Mobile Shopping applications, just another arena that Price Setter is ready to embrace.
Electronic Shopping Lists
On Aug. 7, 2012 Apple was awarded patent No. 8,239,276 named On-the-go shopping list, the application for this patent was filed in Sept. 30, 2008 more than three years after Price Setter application filing which covers exactly the same disclosure and even more than Apple’s own patent.
Both, Apple’s patent and Price Setter patent disclose the ability for Buyers to use the code scanner on their phone to scan the products they want at a local brick and mortar store and obtain pricing and other relevant information of those products, generate an electronic shopping list and take that list to a self check out for automatic processing, another patent embodiment of both Apple and Price Setter disclose the ability for Buyers to conduct local area searches of Sellers that sell the products they want, compare prices and generate a list with routes to those Sellers who sell the products at the lowest price. There are hundreds of smart phone shopping applications that do the exact same thing, developers of these applications have been copying each other to death for the last five years except that… yes, none of them hold a patent.
There are many software developers these days dedicated to creating and improving applications for price matching, most of them dedicated for winning the buy box in Amazon, other applications are designed for eBay, buy.com and other marketplaces, some of these developers include Teika Metrics, Reprising Console, Feedvisor, Seller Engine, Solid Commerce, Appeagle and many others. With these tools Amazon’s Sellers are “fixing” their prices too low permanently on Amazon’s website and on their own website unnecessarily, whereas using Price Setter prices are adjusted temporarily only at the time the best price is being requested by a Buyer and only for each individual transaction without changing the price on the seller’s website.
Price matching/re-pricing is just another feature covered in Price Setter patent. Some of the above mentioned developers hold patents dated after Price Setter patent, others do not have a patent.
Digital Wallets are nothing new, there is a big Digital Wallet war going on between PayPal, Google, Apple, Isis and MCX to name a few, why such a big war? Patents. Now there is a new player in this arena and that is Price Setter platform, posed to embrace the markets giving Buyers the ability to engage Sellers in a real time, unattended price competition before paying for the products or services using the patented Price Setter digital wallet feature. None of the above mentioned digital wallet developers have patents that date back to 2005 only Price Setter does.