Patent ID: 8306851
Filing Date: 2012-11-06
Classification: G06Q

Abstract:
1. A system for price management, the system comprising: a plurality of first network communication devices, each device associated with at least one of a plurality of retail sales sites, including a first network communication device of a first retail sales site at a physical location; a first price management module configured to operate on the first network communication device of the first retail sales site and configured to electronically transmit sales data of the first retail sales site and competitor price data of another retail sales site at a different physical location than the first retail sales site, wherein both the sales data and the competitor price data: a second network communication device associated with the central pricing site; and a second price management module configured to operate on the second network communication device, the second price management module further configured to electronically receive the data transmitted by the plurality of first network communication devices, determine if a site-specific price adjustment is required for a retail sales site based upon the data received from the plurality of first network communication devices, and, when the site-specific price adjustment is required for a retail sales site, electronically transmit the site-specific price adjustment to the first network communication device associated with the retail sales site of the site-specific price adjustment when a site-specific price adjustment is determined to be required,