Patent ID: 7124116

Claim:
A computer-based method for setting market-adapted prices for prices for planning prices for a plurality of target products, said method comprising the following steps: determining a current price for each target product of said plurality of target products; obtaining market prices for a set of products competitive to each of said target products; for each said set of products, calculating a first quartile price and a third quartile price and a percentage difference between said first and third quartile prices; sorting, electronically, said first and third quartile prices for each product set based on said percentage difference between said first and third quartile prices; displaying a graph of said sorted first and third quartile prices such that the first and third quartile pricing for said product sets having a smaller percentage difference are plotted on one end of the graph and said first and third quartile pricing for said product sets having a larger percentage difference are plotted on the other end of the graph; and setting prices, in a database, for each of said product sets based on said graph wherein the prices for the product sets are set closer to an average or median of the market prices of the competitive products for product sets having the smaller percentage difference and the prices for the product sets are set further from the average or median for product sets having the larger percentage difference.