U.S. patent application number 12/705328 was filed with the patent office on 2010-06-17 for alternative selections for compound price quoting.
This patent application is currently assigned to ResponseLogix, Inc.. Invention is credited to L. Thomas Mohr, Jagdish Rajan, Timothy D. Weaver.
Application Number | 20100153235 12/705328 |
Document ID | / |
Family ID | 42241677 |
Filed Date | 2010-06-17 |
United States Patent
Application |
20100153235 |
Kind Code |
A1 |
Mohr; L. Thomas ; et
al. |
June 17, 2010 |
ALTERNATIVE SELECTIONS FOR COMPOUND PRICE QUOTING
Abstract
Methods and systems for automated alternative selection for
compound price quotes are provided. A requesting party submits a
request that includes information regarding at least one
specification. A database is searched based on the information
provided by the request. The search results are evaluated to
determine whether they meet a predefined target. When the search
results do not meet a predefined target, an alternative
specification is identified. At least a second set of search
results is retrieved from the database that may be used to meet the
target. Vehicles are selected for inclusion in a compound price
quote. A compound price quote including multiple price quotes for
each selected vehicles is generated.
Inventors: |
Mohr; L. Thomas; (San Jose,
CA) ; Rajan; Jagdish; (Fremont, CA) ; Weaver;
Timothy D.; (San Jose, CA) |
Correspondence
Address: |
CARR & FERRELL LLP
2200 GENG ROAD
PALO ALTO
CA
94303
US
|
Assignee: |
ResponseLogix, Inc.
Sunnyvale
CA
|
Family ID: |
42241677 |
Appl. No.: |
12/705328 |
Filed: |
February 12, 2010 |
Related U.S. Patent Documents
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Application
Number |
Filing Date |
Patent Number |
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12475368 |
May 29, 2009 |
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12705328 |
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12215940 |
Jun 30, 2008 |
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12475368 |
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60937856 |
Jun 30, 2007 |
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Current U.S.
Class: |
705/26.1 ;
707/758; 707/E17.014 |
Current CPC
Class: |
G06Q 30/0601 20130101;
G06Q 30/0611 20130101; G06Q 30/0629 20130101; G06Q 30/00 20130101;
G06Q 10/00 20130101 |
Class at
Publication: |
705/27 ; 707/758;
707/E17.014 |
International
Class: |
G06Q 30/00 20060101
G06Q030/00; G06Q 50/00 20060101 G06Q050/00; G06F 17/30 20060101
G06F017/30 |
Claims
1. A method for automated vehicle selection for a price quote, the
method comprising: maintaining a database in memory, the database
storing information concerning a plurality of available vehicles,
the stored information including information regarding a plurality
of features associated with each vehicle; receiving a price quote
request concerning a requested vehicle, the price quote request
indicating a specification regarding a feature of the requested
vehicle; and executing instructions stored in memory, wherein
execution of the instructions by a processor: retrieves a first set
of search results from the database, the first set of search
results including available vehicles matching the specification
provided by the price quote request, determines that the first set
of search results does not meet a predefined target, identifies an
alternative specification regarding the vehicle, retrieves a second
set of search results from the database, the second set of search
results including available vehicles matching the identified
alternative specification; selects a plurality of vehicles in
accordance with the target, each vehicle being selected from the
first set or the second set of search results, and generates a
response including a price quote for each of the selected
vehicles.
2. The method of claim 1, wherein the specification is selected
from the group consisting of make, model, year, trim, color, body
style, vehicle segment, duty type, option, use level, inventory
age, equipment level, and vehicle identification number (VIN).
3. The method of claim 1, wherein the predefined target range
refers to a number of the available vehicles.
4. The method of claim 1, wherein the predefined target range
refers to a number of price quotes that can be generated for the
available vehicles.
5. The method of claim 1, wherein the predefined target range
refers to a price range of the available vehicles.
6. The method of claim 5, wherein the price range is divided into
thirds to define a low price range, a middle price range, and a
high price range.
7. The method of claim 6, wherein the available vehicles in each of
the low, middle, and high price ranges includes a plurality of
vehicle configurations and further comprising selecting a vehicle
configuration for each price range, the selection based on a number
of available vehicles with the vehicle configuration.
8. A computer-readable storage medium having embodied thereon a
program, the program being executable by a processor to perform a
method for automated vehicle selection for a price quote, the
method comprising: maintaining a database for storing information
concerning a plurality of available vehicles associated with a
dealer, the stored information including information regarding a
plurality of features associated with each vehicle; receiving a
price quote request concerning a requested vehicle, the price quote
request indicating geographic location and a specification
regarding a feature of the requested vehicle; retrieving a first
set of search results from the database, the first set of search
results including available vehicles matching the specification
provided by the price quote request; determining that a number of
available vehicles included the first set of search results does
not meet a predefined target; identifying an alternative
specification regarding the vehicle; retrieving a second set of
search results from the database, the second set of search results
including available vehicles matching the identified alternative
specification; and selecting a plurality of vehicles in accordance
with the target, each vehicle being selected from the first set or
the second set of search results, and generating a response
including a price quote for each of the selected vehicles.
Description
CROSS-REFERENCE TO RELATED APPLICATIONS
[0001] The present application is a continuation-in-part and claims
priority benefit of U.S. patent application Ser. No. 12/475,368
filed on May 29, 2009, which is a continuation-in-part of U.S.
patent application Ser. No. 12/215,940 filed on Jun. 30, 2008,
which claims the priority benefit of U.S. provisional patent
application No. 60/937,856 filed Jun. 30, 2007, the disclosures of
which are incorporated herein by reference.
BACKGROUND
[0002] 1. Field of the Invention
[0003] The present disclosure relates generally to price quoting.
Specifically, the present disclosure relates to automating the
selection of alternatives for compound price quotes.
[0004] 2. Background Art
[0005] When making purchases, one of the most important
considerations for a buyer is price. However, pricing can be
dependent on multiple factors: including type of item,
specifications and features of the item, age, demand, degree of use
(i.e., used, new), location, seller/dealer, etc. Such factors may
affect the price dramatically and further complicate the process of
determining, analyzing, and comparing prices for a desired product.
Automobiles, for example, may come in various makes, models, trims,
colors, features (standard equipment, options, and upgrades), etc.
Such options and upgrades, or removal thereof, may increase or
decrease the price of the final product.
[0006] Another consideration when customers are shopping for a
particular product is availability, specifically availability
within a certain geographic region. Many customers wish to see,
touch, and test a product before committing to a purchase,
especially costly purchases. Some items, due to size, weight,
rarity, etc., may be difficult, costly, or time-consuming to
transport to the customer. As such, the customer may wish to find a
seller or dealer of the product within a certain geographic region
that is convenient to the customer. The geographic location of a
car dealer, for example, may be an important factor to a car-buyer,
since transporting an automobile from a distant location may be
either costly, time-consuming, or both. Determining availability
within a geographic region therefore becomes very important to the
customer.
[0007] In some instances, a customer may request a particular
vehicle, but may be open to considering alternatives, particularly
if the alternative has a more attractive price point or has a
different set of desirable features. Such alternatives may include
vehicles that share some similarities to the requested vehicle, but
may not turn up in a search for the requested vehicle. For example,
a customer who requests a particular make and model of truck may be
open to purchasing alternative trucks, either of the same make,
model, year, trim, color, body style, usage level, etc. Because
customers generally lack the ability to review dealer inventories,
however, they may not know to ask whether such alternatives exist
or are available.
[0008] As such, there is therefore a need in the art for improved
systems and methods for selection of alternatives and generation of
compound price quotes, including quotes for alternatives.
SUMMARY OF THE INVENTION
[0009] Exemplary methods and systems for automated alternative
selection for compound price quotes are provided. A database is
maintained regarding a variety of vehicles and the features
associated with each. A requesting party submits a request that
includes information regarding at least one specification. A
database is searched based on the information provided by the
request. The search results are evaluated to determine whether they
meet a predefined target. When the search results do not meet a
predefined target, an alternative specification is identified. At
least a second set of search results is retrieved from the database
that may be used to meet the target. Vehicles are selected for
inclusion in a compound price quote. A compound price quote
concerning multiple vehicles each with a price quote is generated.
Such price quotes may then be provided to consumer 110. The
requesting party may be a potential customer, a dealer, or a third
party acting on behalf of the potential customer or dealer.
[0010] Embodiments of the present invention include methods for
automated alternatives selection for compound price quotes. Such
methods may include maintaining a database concerning vehicles and
their features, receiving a price quote request from a requesting
party, the price quote request comprising information concerning at
least one specification, searching a database based on the
specification, determining that the first set of search results do
not meet a predefined target, determining an alternative
specification, searching a database based on the alternative,
selecting a plurality of vehicles in order to meet the target, and
generating a response including a compound price quote regarding a
price for each selected vehicle. For vehicles, specifications may
include make, model, year, trim, color, body style, vehicle
segment, duty type, option, use level, inventory age, equipment
level, and vehicle identification number (VIN).
[0011] Further embodiments of the present invention may further
include computer-readable storage media having embodied thereon
programs executable by a processor to perform a method for
automated alternatives selection for compound price quotes. Such
computer-readable storage media may provide for performance via
integration into existing client systems and/or via plug-in.
BRIEF DESCRIPTION OF THE FIGURES
[0012] FIG. 1A illustrates an exemplary architecture for generating
a price quote.
[0013] FIG. 1B illustrates an alternative architecture for
generating a price quote according to another embodiment of the
present invention.
[0014] FIG. 2 illustrates an exemplary embodiment of a quoting
engine system for generating a price quote.
[0015] FIG. 3 illustrates an exemplary architecture for receiving
dealer information.
[0016] FIG. 4 illustrates an exemplary method for alternative
selection for compound price quotes.
[0017] FIG. 5A illustrates an exemplary screenshot of a compound
price quote according to one embodiment.
[0018] FIG. 5B illustrates an exemplary screenshot of a compound
price quote according to an alternative embodiment.
[0019] FIG. 5C illustrates an exemplary screenshot of a compound
price quote according to another alternative embodiment.
DETAILED DESCRIPTION
[0020] Embodiments of the present invention include methods and
systems for alternatives selection for compound price quotes. A
database is maintained regarding a variety of vehicles and the
features associated with each. A requesting party submits a request
that includes information regarding at least one specification.
Search results are retrieved from the database regarding the
specification provided by the request. It is determined that the
search results do not meet a predefined target, and an alternative
specification is identified. At least one other set of search
results is retrieved from the database. Vehicles are selected from
the first set or subsequent sets of search results in order to meet
the target. A price quotes is generated for each of the selected
vehicles. The automated nature of such price quotes provides a
customer with information that is timely, detailed, and accurate
with respect to features, pricing, and availability. In addition,
identifying alternatives and providing quotes for such alternatives
provides the requesting party with choice and variety. Such price
quoting also provides dealers with speed of response to the
requesting party, more pricing flexibility, greater accuracy, and
significant time savings.
[0021] FIG. 1A illustrates an exemplary architecture for generating
an automated price quote. The parties involved may include the
customer 110, dealer (or seller) 120 of a product, and the quoting
engine 200. In the illustrated embodiment, the customer 110
communicates with quoting engine 200, which in turn, can convey
information to the dealer 120 through the dealer's customer
relationship management (CRM)/Internet lead management (ILM)
system.
[0022] FIG. 1B illustrates an alternative architecture for
generating a price quote according to another embodiment of the
present invention. Such an architecture may result from a plug-in
model, in which price quoting in integrated into the CRM/ILM system
of the dealer. As such, the customer communicates with the dealer's
120 CRM/ILM system, the CRM/ILM system communicates the issuance of
the price quote to the quoting engine 200, the quoting engine 200
issues the price quote to consumer 120.
[0023] FIG. 2 illustrates an exemplary embodiment of a quoting
engine system 200 for generating a price quote. The quoting engine
200 includes a database 210, a matching engine 220, and a price
quote preparation engine 230. Database 210 stores information
concerning various product specifications. If the product is a
vehicle, for example, database 210 may store vehicle mappings 210A,
vehicle configurations 210B, vehicle information 210C, information
from dealer inventory feeds 210D, dealer pricing rules 210E,
manufacturer incentives 210F, and communication templates 210G, as
illustrated in FIG. 2.
[0024] Vehicle mappings database 210A includes various translations
understood to be a particular vehicle by the quoting engine 200.
For example, a customer 110 may request a particular vehicle (e.g.,
2009 Toyota Corolla LE 4-door sedan), while the quoting engine 200
understands the same vehicle as a 2009 Toyota Corolla LE 4-dr SDN.
Because the descriptions are slightly different, quoting engine 200
may map, translate, or otherwise understand that both descriptions
apply to the same vehicle based on information stored under vehicle
mappings database 210A:
[0025] 2009 Toyota Corolla LE 4-dr SDN=2009 Toyota Corolla LE
4-Door Sedan
[0026] The matching is performed by matching engine 220. Once an
incoming price quote request is received from the customer 110, a
product description may be identified in the request and matched to
a product description of one or more dealers 120 by matching engine
220. Matching engine 220 uses the information stored in vehicle
mappings 210A to determine what product is being requested by the
customer 110. In some embodiments, new and updated vehicle mappings
may be added manually, automatically, or both, to vehicle mappings
database 210A. Some embodiments may track manual mappings,
determine that manual mappings have occurred a certain number of
times, and store the particular mappings under mappings 210A for
automatic mapping in the future.
[0027] Vehicle configurations database 210B includes information
concerning specific products. Such information may be expressed as
any combination of options or features associated with a vehicle
identified by matching engine 220. The configurations may be stored
in the form of a specific vehicle as uniquely identified by its VIN
number (very specific) or vehicle configurations available at a
given dealership or dealerships in a geographic region (less
specific). For a given combination of "Year, Make, Model" or "Year,
Make, Model, Trim," vehicle configurations database 210B may list
multiple vehicle configurations that will be included in the price
quote. In some embodiments, new and updated configurations may be
added to vehicle configurations database 210B due to the use of the
quoting engine 200, just as new mappings may be added to vehicle
mappings 210A.
[0028] Vehicle information database 210C includes further
information and specifications for a given vehicle type. The
information in 210C provides customer 110 of the vehicle price
quote with the vehicle's description as well as the descriptions of
the options, features, and equipment available and/or included on
the quoted vehicles. For example, a customer 110 may request a
particular make and model, but be unaware of what further options
and features are available. Such information may be accessed from
vehicle information 210C of the database 210 and provided to the
customer 110, for each vehicle within the compound price quote.
[0029] Exemplary specifications may include make, model, year,
trim, color, body style, vehicle segment, duty type, option, use
level, inventory age, equipment level, and vehicle identification
number (VIN). Make may refer to a manufacturer branded line of
vehicles (e.g., Ford, Toyota, Nissan). Model may refer to a
specific branded model of vehicle within the line (e.g., Focus
(Ford), Camry (Toyota)). Trim may refer to a style of vehicle for
the model (e.g., DX, EX, LX). Body style may refer to a
classification of vehicles based on a type of vehicle body (e.g.,
sedan, truck, sport utility vehicle (SUV)) independent of the
particular manufacturer. Vehicle segment may refer to another
generalized classification of vehicles (e.g., compact, mid-sized,
luxury, all-wheel drive (AWD)). Duty type may refer to any
sub-classification within a body style or vehicle segment (e.g.,
light duty, heavy duty).
[0030] In addition, options may include any additional features or
accessories that may be included or added to a vehicle (e.g., sound
system, security system, global positioning system (GPS)). Use
level may refer to whether the vehicle is new, pre-owned, and
indicators regarding extent of usage, such as mileage. Inventory
age may refer to a length of time the dealer has had the particular
vehicle in inventory. Equipment level may refer to a generalized
classification regarding the various features or options included
in a vehicle (e.g., conservatively equipped, comfortably equipped,
generously equipped). A VIN is a unique identifier associated with
each vehicle. Within a dealership, the vehicle may also be referred
to by a stock number.
[0031] Dealer inventory feed database 210D includes lists of
vehicles currently at a given dealer 120 along with information
that may be obtained by decoding the vehicle identification number
(VIN) number associated with each vehicle. This database is used to
provide information relating to actual new and used vehicles
available from a particular dealer 120 that may match the price
quote request submitted by the customer 110. In some embodiments,
available alternatives to the new vehicle may be determined and
presented to the customer 110. Such alternatives may include
higher-end models/trims, lower-end models/trims, as well as
used/new alternatives. For example, a customer 110 requesting a
price quote for a used vehicle may also be presented with price
quotes for new vehicles with the same (or similar) specifications,
and vice versa. The information stored in dealer inventory feed
database 210D may be received from multiple dealers in any
geographic region. FIG. 3, described in further detail below,
illustrate one way that information may be provided to data
inventory feed database 210D.
[0032] Dealer pricing rules database 210E includes rules and the
pricing values by which the dealer 120 arrives at the final price
of a given vehicle. These rules are stored in advance of an
incoming vehicle price quote request.
[0033] Manufacturer incentive database 210F contains manufacturer
incentives offered directly to customer 110. These incentives may
include cash back rebates, special financing rates, or special
lease rates to influence a customer's purchase decision.
[0034] Communication template database 210G is stored in advance of
the issuance of a price quote. The template may contain information
layout, copy, graphics or the like that may be used at the time a
vehicle price quote request is issued. The communication method
used to inform the customer 110 of a vehicle price quote may be
e-mail, webpage, text message, mobile communication, and other
forms of communication commonly used in the art.
[0035] Searching the information available in database 210 A-G
allows for determination of answers to the following questions:
[0036] What is the specified product, [0037] Whether the specified
product is available in the specified geographical region and from
what dealers, [0038] What other specifications are available for
the specified product, [0039] How many units of the specified
product are available from a dealer, [0040] How much the dealer is
quoting for the specified product, [0041] Whether any alternatives
exist and any cost adjustment for each alternative, [0042] Whether
the specified product qualifies for any manufacturer incentives
(e.g., cashback rebates, special financing options, special lease
rates), [0043] Which sales representative at a dealership is
issuing the price quote, [0044] How the price quote will appear to
consumer 110 and the means of delivery.
[0045] FIG. 3 illustrates an exemplary architecture for receiving
dealer information. The availability of a product by configuration,
as well as by dealer 120 or dealers 120 in a geographic region, may
need to be determined before generation of a price quote. In some
cases such as the customer 110 calling the dealer 120 by telephone
or requesting an updated/refined price quote based on new
information provided to the dealer 120, a dealer 120 may request
the issuance of a price quote on behalf of a customer 110.
[0046] The dealer 120 as part of requesting the issuance of a price
quote to consumer 110 may select an existing vehicle configuration
from the vehicle configurations database 210B or create a new
vehicle configuration if needed. Alternatively, the request for
issuing a price quote by dealer 120 may be based on a regional
vehicle search using a tool such as a regional vehicle locator 310
provided by, for example, the original equipment manufacturer
(OEM), prior to submitting the price quote request. Regional
vehicle locator 310 operates in conjunction with inventory supply
management (ISM) systems at one or more dealers 120 to provide
dealer cost and inventory availability of a vehicle manufactured by
the OEM. Multiple uses of the regional vehicle locator 130 provides
frequent updates 311-314 concerning such dealer cost and inventory
of one or more dealers 120 in a geographic region. As such, the
information concerning inventory of vehicles available across
dealerships within a particular region may be continuously provided
to quoting engine 200. Upon locating a vehicle in the region, the
dealer 120 may submit a price quote request on behalf of the
customer 110 based on the configuration of the vehicle retrieved
from the regional vehicle locator 130. As such, the particular
vehicle configuration is passed along to the quoting engine 200 and
stored in vehicle configurations database 210B.
[0047] FIG. 4 illustrates an exemplary method 400 for alternatives
selection for compound price quotes. Method 400 may include
maintaining a database of vehicles and their respective features,
receiving a quote request indicating a specification, retrieving a
set of search results from the database based on the specification,
determining that the set of search results does not meet a target,
determining an alternative to the specification, retrieving a set
of search results based on the alternative, selecting a plurality
of vehicles in order to meet the target, the selections coming from
the first set or subsequent sets of search results, and generating
a compound price quote including quotes for a plurality of vehicles
in a response to the request.
[0048] In step 410, a database is maintained regarding multiple
vehicles and the features associated with each vehicle. Each
vehicle in database 210 may be associated with a dealer/location
and described in terms of its specifications such as make, model,
year, trim, color, body style, vehicle segment, duty type, option,
use level, inventory age, equipment level, price, and vehicle
identification number (VIN). The database may be searched based on
a variety of parameters. For example, a search may be based on
geographic location such that the vehicles available from one or
more dealers in a particular geographic location may be identified.
The available vehicles may further be filtered based on one or more
specifications (e.g., make, model). Changing the specifications
allows for different results to be retrieved.
[0049] In step 420, a price quote request is received. Such a price
quote request may be sent directly from a customer 110 or from a
dealer 120, who may be submitting the price quote request on behalf
of one or more customers 110. The price quote request may indicate
a particular product of interest and at least one specification
indicating a feature. For example, a price quote request may be as
broad as "Blue Honda Civic" or as specific as indicating an exact
vehicle by VIN. The price quote request may further specify
preferences with respect to any feature of the requested vehicle.
Such preferences may specify a particular model, trim level, body
style, price range, equipment level, presence of a particular
option, etc. Alternatively, the preference may indicate a minimum
level of a feature (e.g., at least LX trim), such that higher
levels may be acceptable and of interest to the requesting party.
The preference may also indicate a maximum level (e.g., no more
than $40,000) to allow for lower levels to be retrieved for
consideration.
[0050] In step 430, a set of search results is retrieved from
database 210 based on the specification(s) indicated in the
request. As part of the search, the specification provided in the
price quote request is compared to the information stored in
mappings 210A. For example, a price quote request concerning a
particular make and model is automatically mapped/translated to the
description understood by quoting engine 200. Specifically,
availability information regarding one or more dealers in or around
a particular location may be determined. If a search is based on
make and model (e.g., Toyota Camry), for example, a set of search
results may include information regarding the twenty Toyota Camry
vehicles available from the local Toyota dealer.
[0051] In step 440, it is determined whether the predefined target
is met when including alternatives in the compound price quote. The
target may include one or more parameters predefined by a dealer,
an administrator, the user, or a combination of the foregoing. The
target may refer to the type(s) of search results desired. For
example, a target may refer to a desired number of results (e.g.,
different vehicle configurations, different price quotes), a
desired range of results (e.g., price range), etc. Rather than just
giving just one quote for one vehicle or one average quote, a
dealer may wish to provide its customers with specific price quotes
for multiple vehicles, for example, representing a range of prices
and/or features. Additionally, the dealer may want to include
alternative pre-owned vehicles within the compound price quote when
the request is for a new vehicle and vice versa (i.e., including
alternative new vehicles within the compound price quote in
response to a request for a pre-owned vehicle).
[0052] For example, a dealer may specify that its customers receive
at least three price quotes in low, medium, and high ranges that
are at least $2000 apart. A customer of that dealer who searches
for a 2010 Toyota Camry CE may therefore receive price quotes for
three 2010 Toyota Camry CE vehicles with price quotes of $25,000,
$30,000, and $35,000. Where a request does not specify trim or the
dealer wants to include alternative trims within the compound price
quote, the differences in the price quotes may be based on
differing trim (e.g., DX, LX, EX). The difference in price quotes
may further be based on differences in other features not
specifically enumerated in the request (e.g., options, duty level,
equipment level). If the search results meet the target, then the
method may proceed to step 480 for price quote generation.
[0053] If the search results do not meet the target, the method may
proceed to step 450. Depending on how specific the specifications
of the search are, a dealer may not have any or enough vehicles in
inventory that meet the requested specification. Where search
results based solely on a request fails to meet a target number,
close alternatives may be identified. As such, in step 450, an
alternative specification may be determined. Selection of the
alternative specification may be based on default parameters and/or
be defined based on preferences of a dealer, administrator, etc.
Depending on the target specified, the alternative specification
may be chosen to substitute or supplement the requested
specification to broaden, narrow, or otherwise supplement the
search.
[0054] FIG. 5A illustrates an exemplary screenshot of a compound
price quote according to one embodiment. Specifically, the
illustrated compound price quote is based on a price quote request
for a specific VIN of a 2008 Chevrolet Impala LT. Based on the
dealer inventory, a search based on a particular VIN number may not
retrieve any results or only retrieves one result, despite the
target specifying at least four results. To find alternatives to
include in the price quote, an alternative specification may be
substituted, specifying a different year, make, model, trim,
etc.
[0055] An alternative specification may pertain to a feature not
specified in the request, but identified from the retrieved search
results. For example, a search may refer to a vehicle having a
particular VIN. Information regarding that vehicle may be
retrieved, and the make, model, and other features of the vehicle
having that VIN number may be determined. Referring to the previous
example, a particular 2008 Chevrolet Impala LT may be identified
from the VIN number. In selecting alternatives to meet the target,
the determined alternative specification may broaden the search to
find vehicles having the same or similar vehicle configuration or
combination of features. A subsequent search may retrieve other
Chevrolet Impala LT vehicles (e.g., same make/model/trim), other
Chevrolet Impala vehicles (e.g., same make/model), other sedans
(e.g., same body style), etc., based on alternate and/or broader
specifications.
[0056] Similarly, where the retrieved vehicle has a particular
usage status (e.g., pre-owned), an alternative specification may be
a different usage status (e.g., new). Requests for a pre-owned
vehicle may therefore result in quotes for not only the pre-owned
vehicles, but also new alternatives matching other features of the
requested vehicle. The same logic may apply to determination of an
alternative specification for any other feature or combination of
features specifying make, model, year, trim, color, body style,
vehicle segment, duty type, option, use level, inventory age,
equipment level, etc.
[0057] In step 460, a set of search results is retrieved based on
the alternative specification. Referring again to FIG. 5A, a search
for a particular 2008 Chevrolet Impala LT may retrieve that
vehicle. Alternatives may include a 2008 Chevrolet Impala LS (e.g.,
different trim), a 2009 Toyota Camry Hybrid sedan, and a 2009 Camry
SE sedan ((e.g., different make/model, similar body style).
[0058] Additionally, FIG. 5B illustrates an exemplary screenshot of
a compound price quote according to alternative embodiments of the
invention. With respect to the heavy-duty 2008 Ford Expedition, the
alternatives may include additional options within the same year,
make, model and trim (e.g., "air suspension read-load leveling" and
"rear seat entertainment DVD"). While it is possible for customer
110 to specify a desired product configuration, the product
manufacturer (e.g., OEM) may not have built such a configuration.
In such a case, an alternative/equivalent product may be selected.
For example in the case of the 2008 Ford Expedition, the price
quote request may have contained the desire for a heavy duty
radiator which was not built for Expeditions within the customer
110's region. FIG. 5B illustrates the alternatives available which
do not include the heavy duty radiator. The particular product
configuration (or alternative/equivalent) can then be determined
based on a preprogrammed selection algorithm. Preprogramming may be
based on default configurations and/or customized by dealer 120,
OEM, etc.
[0059] FIG. 5C illustrates an exemplary screenshot of a compound
price quote according to alternative embodiments of the invention.
With respect to the 2009 Honda Civic, the price quote request may
be for the LX 5-Speed Automatic 4dr Sedan and the alternatives are
based on differing trims of the same Civic model (i.e., the LX-S
and the EX) each of which have varying levels of equipment, ranging
from a "conservatively equipped" unit to a "comfortably equipped
unit" to a "generously equipped" unit.
[0060] In step 470 for some embodiments of the invention,
representative vehicles are selected from the first set of search
results based on the requested specification or the second set of
search results based on the alternative specification. In some
instances, the search incorporating the requested specification may
retrieve too many vehicles to meet the target. As such,
representative vehicles may need to be selected to comply with the
target. For example, the search may need to be filtered to meet the
target based on an alternative specification. The alternative
specification may therefore supplement the requested specification
in narrowing down the search results to meet the target. For
example, a request for a "2010 Toyota Camry CE sedan" may result in
10 matches from a dealer who has defined a target to provide one
vehicle each for a high price range, a middle price range, and a
low price range. The ranges may be determined by taking the
difference between the highest price (e.g., $40,000) and lowest
price (e.g., $31,000) and dividing into thirds (e.g.,
$40,000-$31,000=$9000; $9000/3=$3000). The low range would be
$31,000-$34,000; the middle range would be $34,000-$37,000; and the
high range would be $37,000-$40,000. A dealer may specify any
number of ranges as part of defining their respective targets for
price quoting.
[0061] In this embodiment, the alternative specification may refer
to a count of vehicle configurations (e.g., vehicles with the same
features) identified for each price range. A vehicle having a
configuration with the highest count within each price range (e.g.,
2010 Toyota Camry CE sedans with leather seats, GPS, leather seats
and GPS) would be selected for inclusion in the price quote. Where
there are ties in number of configurations within each price range,
additional factors may come into play. For example, depending on
which range the vehicle configuration falls into, a vehicle with
the cheapest, median, or priciest vehicle configuration may be
selected. Another factor in the selection is whether the prices of
the selected vehicle configuration represent enough of a range for
comparison.
[0062] Once the vehicles have been selected, the method may return
to step 440 for determination of whether the target has been met.
If so, the method proceeds to step 480 for generation of each price
quote for the selected vehicles.
[0063] In step 480, a compound price quote is generated for the
vehicles retrieved in steps 430 and/or 460. The compound price
quote includes a price quote for each of a plurality of vehicles,
each calculated according to the particular pricing scheme of the
dealer(s) 120. A pricing scheme is a set of one or more pricing
rules for a particular vehicle configuration. The pricing rules
specified by a particular dealer 120 may refer to absolute selling
price, pricing relative to the product's manufacturer-suggested
retail price (MSRP), or pricing relative to the dealer's invoice
price. Dealer invoice pricing may be obtained from the dealership
in absolute fashion or through a formulaic calculation. The dealer
120 may also specify different rules for different configurations.
As such, multiple pricing schemes may be associated with a
particular dealer 120. For each vehicle, a pricing scheme may be
identified from possibly multiple pricing schemes by dealer 120 and
determined as being relevant to the specified product and
customer.
[0064] Further, customer incentive information may also be provided
by manufacturer incentives 210F in database 210 and applied to
generate the price quote. This information may include but is not
limited to cash back rebates, special financing rates, or special
lease rates. In some instances, special pricing rules may apply.
For example, a dealer 120 may be having a sale during a particular
weekend in which a friends-and-family discount is available. Such
special pricing rules may also be taken into account in the
generation of the price quote.
[0065] The identified pricing scheme is applied to determine a
price quote for each vehicle. A response may be prepared including
the multiple price quotes and sent to the requesting party, which
may be a customer 110 or a dealer 120. In addition to the price
quote, other information may be provided to assist the customer 110
in making a decision. For example, a detailed description of each
vehicle (including various other specifications available) may be
provided from vehicle information 210C stored in database 210.
[0066] Further, if the dealership wishes to indicate that the
compound price quote has been sent on behalf of a particular
individual (i.e., a sales representative), such information may
also be sent along with the price quote. Such information, along
with dealer-specific information (i.e., address, operating hours)
may be provided by communication template 210G stored in database
210. The information for the vehicle price quote is incorporated
into the template dynamically to produce the desired vehicle price
quote communication. The compound price quote (and any accompanying
information) may then be issued via e-mail, web, SMS, text, mobile
communication and others known in the art. If the compound price
quote is issued to a customer 110, a copy may also be provided to
the identified dealer 120.
[0067] Some of the above-described functions can be composed of
instructions that are stored on storage media (e.g.,
computer-readable medium). The instructions may be retrieved and
executed by the processor. Some examples of storage media are
memory devices, tapes, disks, integrated circuits, and servers. The
instructions are operational when executed by the processor to
direct the processor to operate in accord with the invention. Those
skilled in the art are familiar with instructions, processor(s),
and storage media.
[0068] It is noteworthy that any hardware platform suitable for
performing the processing described herein is suitable for use with
the invention. The terms "computer-readable medium" and
"computer-readable media" as used herein refer to any medium or
media that participate in providing instructions to a CPU for
execution. Such media can take many forms, including, but not
limited to, non-volatile media, volatile media and transmission
media. Non-volatile media include, for example, optical or magnetic
disks, such as a fixed disk. Volatile media include dynamic memory,
such as system RAM. Transmission media include coaxial cables,
copper wire and fiber optics, among others, including the wires
that comprise one embodiment of a bus. Transmission media can also
take the form of acoustic or light waves, such as those generated
during radio frequency (RF) and infrared (IR) data communications.
Common forms of computer-readable media include, for example, a
floppy disk, a flexible disk, a hard disk, magnetic tape, any other
magnetic medium, a CD-ROM disk, digital video disk (DVD), any other
optical medium, punch cards, paper tape, any other physical medium
with patterns of marks or holes, a RAM, a PROM, an EPROM, an
EEPROM, a FLASHEPROM, any other memory chip or cartridge, a carrier
wave, or any other medium from which a computer can read.
[0069] Various forms of computer-readable media may be involved in
carrying one or more sequences of one or more instructions to a CPU
for execution. A bus carries the data to system RAM, from which a
CPU retrieves and executes the instructions. The instructions
received by system RAM can optionally be stored on a fixed disk
either before or after execution by a CPU.
[0070] The above description is illustrative and not restrictive.
Many variations of the invention will become apparent to those of
skill in the art upon review of this disclosure. The scope of the
invention should, therefore, be determined not with reference to
the above description, but instead should be determined with
reference to the appended claims along with their full scope of
equivalents.
[0071] While the present invention has been described in connection
with a series of preferred embodiment, these descriptions are not
intended to limit the scope of the invention to the particular
forms set forth herein. It will be further understood that the
methods of the invention are not necessarily limited to the
discrete steps or the order of the steps described. To the
contrary, the present descriptions are intended to cover such
alternatives, modifications, and equivalents as may be included
within the spirit and scope of the invention as defined by the
appended claims and otherwise appreciated by one of ordinary skill
in the art.
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