Patent ID: 7481367

Claim:
A method of controlling pricing using a markdown profile, comprising: selecting a first markdown profile for a product group, the product group comprising a first product and a second product, the first markdown profile configured to compare a first targeted sales amount during at least a first time period to a first markdown amount for the at least first time period; setting the first markdown profile as a product category markdown profile for the first product and the second product; assigning a second markdown profile to the second product, the second markdown profile configured to compare a second targeted sales amount during at least a second time period to a second markdown amount for the at least second time period; selecting a first sales plan; selecting a second sales plan; selecting a first retail price for the first product; selecting a second retail price for the second product; acquiring first updated sales data for the first product; acquiring second updated sales data for the second product; determining at least one of a first exception to the first sales plan and a second exception to the second sales plan based on comparing at least one of the first updated sales data to the first sales plan and the second updated sales data to the second sales plan; determining a markdown to be applied to at least one of the first retail price and the second retail price based on at least one of the first updated sales data, the second updated sales data, the first exception and the second exception; and adjusting at least one of the first retail price and the second retail price by the markdown.