Patent ID: 8224708

Claim:
A computer-implemented method for automated pricing of a product, comprising: configuring a plurality of pricing states, each pricing state having associated therewith a pricing mechanism and a trigger, wherein the pricing mechanism is configured to determine a pricing of the product while the product is in the pricing state, and wherein the trigger is configured with at least one parameter that, when satisfied, causes the product to automatically transition from the pricing state to another pricing state; determining the pricing of the product based on the pricing mechanism of the pricing state in which the product is placed; and while the product is in a pricing state, monitoring a parameter of a trigger of the pricing state, and when the parameter of the trigger is satisfied, then automatically transitioning, by a computer, the product from the particular pricing state to a next pricing state, wherein the pricing mechanism of the particular pricing state is different from the pricing mechanism of the next pricing state, wherein at least one pricing state has multiple triggers associated therewith, and when the product is in the at least one pricing state, the method comprises monitoring the parameters of the multiple triggers and when a parameter of a trigger among the multiple triggers is satisfied, then automatically transitioning the product from the at least one pricing state to one of a plurality of next pricing states depending on which trigger parameter is satisfied.