Patent ID: 7822692

Claim:
Non-transitory machine-readable media for controlling pricing for sale of a product using an automated process, the non-transitory machine-readable media comprising program code stored therein executable by one or more machines to perform the automated process, the automated process comprising: selecting a markdown profile to be used for the product; selecting a retail price for the product; determining a target sales quota for the product; acquiring by a program module sales data regarding the product; comparing by the program module the sales data to the target sales quota; determining by the program module a best seller based on a sales data to target sales quota comparison; determining by the program module that the product is within a product lifecycle; when the product is within the product lifecycle, acquiring by the program module updated sales data regarding the product; determining by the program module whether the product is still the best seller based on an updated sales data to target sales quota comparison; when the product is not within the product lifecycle, ending the automated process; storing at least one of a determination that the product is the best seller and data related to ending the automated process; wherein the best seller determination is based on at least one of a sales data to target sales quota comparison and an updated sales data to target sales quota comparison.