Patent ID: 7257561
Filing Date: 2007-08-14
Classification: G06Q

Abstract:
1. A computer program product embodied on a computer readable medium for utilizing feedback in generating an optimal price, comprising: computer code for generating an optimal price, utilizing a processor of a computer system, wherein the optimal price is generated by receiving a plurality of prices associated with a price-frequency mathematical distribution, a number of competitors, a business objective, and a cost associated with a good or service, via an input device coupled to the processor of the computer system; and calculating the optimal price based on the prices, number of competitors, business objective, and cost associated with the good or service, utilizing the processor of the computer system; computer code for identifying an expected result of utilizing the optimal price; computer code for reacting by adjusting the price-frequency mathematical distribution based on a difference between the expected result and an actual result, utilizing the processor of the computer system; and computer code for outputting the optimal price; wherein the computer code is executed on the processor of the computer system for aiding in the achievement of the business objective.