Capital one services, llc (20240296473). SYSTEM AND METHOD FOR SOCIAL THROTTLING simplified abstract
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 20240296473 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
- Additional 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 - Reduced prices for customers - Enhanced customer loyalty
- Commercial Applications:**
Discounting systems for e-commerce platforms and retail stores to increase sales and customer engagement.
- Prior Art:**
Prior art related to discounting systems in e-commerce and retail industries.
- Frequently Updated Research:**
Research on consumer behavior and the effectiveness of discounting strategies in marketing.
- Questions about discounting based on social throttling:**
1. How does social throttling impact customer behavior in terms of making purchases? 2. What are the potential drawbacks of discounting based on social throttling?
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.