ONLINE MARKETPLACE FOR DEALS LEVERAGING COLLECTIVE PURCHASING POWER

摘要

A market system in which buyers and sellers design deals for goods and services, and buyers attain discounts by leveraging their collective purchasing power. Buyers or sellers can design a new deal ("proposed deal"), which is then broadcasted to other system users, inviting buyers to join the purchasing pool and informing relevant sellers of a possible business opportunity. The seller meets contractual terms with the purchasing pool or a segment of the purchasing pool ("deal acceptance") at which point transactions are executed at the designated price cut ("deal consummation"). The system facilitates the processes of initiating the right deal at a realistic discount, accumulating group-buying power, negotiating terms, and closing the deal. The system also registers buyer and seller information, monitors transactional and browsing history, and records various rates of conversion from deal participation to actual purchases. This data is analyzed and available as an informational service to market participants.