18116597. SYSTEM AND METHOD FOR SOCIAL THROTTLING simplified abstract (Capital One Services, LLC)
SYSTEM AND METHOD FOR SOCIAL THROTTLING
Organization Name
Inventor(s)
Michael Mossoba of Great Falls VA (US)
Timur Sherif of Silver Spring MD (US)
Amita Sharma of Potomac MD (US)
SYSTEM AND METHOD FOR SOCIAL THROTTLING - A simplified explanation of the abstract
This abstract first appeared for US patent application 18116597 titled 'SYSTEM AND METHOD FOR SOCIAL THROTTLING
The patent application describes a system and method for discounting the cost of goods based on social throttling.
- Starting price for the good
- Price progression based on the numbers of purchases
- Maximum discount
- Discount incentives for individuals who promote the promotion on social media or based on other factors
This innovation allows for increased sales for retailers and reduced prices for customers.
- Potential Applications:**
- E-commerce platforms - Retail stores - Online marketplaces
- Problems Solved:**
- Encouraging more purchases - Rewarding customers for promoting products - Increasing customer engagement
- Benefits:**
- Increased sales for retailers - Lower prices for customers - Enhanced customer loyalty
- Commercial Applications:**
Discounting systems for various industries such as retail, e-commerce, and online marketplaces.
- Questions about the System:**
1. How does the discounting system determine the starting price for goods? 2. What are the different parameters that can be included in the discounting system?
- Frequently Updated Research:**
Stay updated on consumer behavior trends and social media marketing strategies to optimize the discounting system for maximum effectiveness.
Original Abstract Submitted
A system and method for discounting the cost of goods based on social throttling is disclosed. A discount system is provided with discounting parameters that can include a starting price for the good, a price progression of the good based on the numbers of purchases, a maximum discount, and other parameters. During the promotion, as the number of purchases increases, the total discount also increases according to those parameters. Additionally, further discount incentives can be provided to individuals who promote the promotion on social media, or based on other factors, such as whether they are early adopters or frequent participants. Accordingly, the retailer benefits from increased sales and the customers benefit from reduced prices.