Digital online exchange
A system for dynamically pricing media content is operatively coupled to one or more clients over a network. The system dynamically adjusts pricing of the media content and delivers the media content to the clients that order the media content at a dynamically adjusted price. The price can be dynamically adjusted based on profit optimization. Alternatively or additionally, the price can be adjusted based to time between purchases. Further, the system is capable of rewarding institutions for allowing their members to access the system.
1. An apparatus, comprising:
memory containing at least one item, wherein the item includes media content; and
a processor operatively coupled to said memory and responsive to input over a network from one or more clients, said processor being operable to deliver the item from memory to the one or more clients that order the item at a dynamically adjusted price;
wherein said processor is operable to adjust the pricing of the item by comparing profits generated by the item at different price levels;
wherein said network includes the Internet;
wherein said processor is operable to increase the pricing of the item when profit at a current price for the item is at least greater than or equal to a profit associated with a previous price for the item;
wherein said processor is operable to increase the pricing of the item by a random percentage above the current price; and
wherein the random percentage is within a specified range.
2. The apparatus of claim 1 , wherein the profit associated with the previous price and the previous price is stored in the memory.
3. The apparatus of claim 1 , wherein said processor is operable to decrease the pricing of the item when profit associated with the current price is less than profit associated with the previous price.
4. The apparatus of claim 1 , wherein said processor is operable to randomly adjust the pricing of the item within a specified range around the previous price at which the profit associated with the previous price for the item was previously obtained when there is a predetermined price difference between a current price and the previous price and when profit associated with the current price is less than the profit associated with the previous price.
5. An apparatus, comprising: memory containing at least one item, wherein the item includes media content; and
a processor operatively coupled to said memory and responsive to input over a network from one or more clients, said processor being operable to deliver the item from memory to the one or more clients that order the item at a dynamically adjusted price;
wherein said processor is operable to adjust the pricing of the item by comparing profits generated by the item at different price levels;
wherein said network includes the Internet; and
wherein said processor is operable to randomly adjust the pricing of the item within a specified range around a previous price at which a first profit for the item was previously obtained when there is a predetermined price difference between a current price and the previous price and when profit associated with the current price is less than the first profit.
6. The apparatus of claim 5 , wherein the profit associated with the previous price and the previous price is stored in the memory.
7. An apparatus, comprising: memory containing at least one item, wherein the item includes media content; and
a processor operatively coupled to said memory and responsive to input over a network from one or more clients, said processor being operable to deliver the item from memory to the one or more clients that order the item at a dynamically adjusted price;
wherein said processor is operable to adjust the pricing of the item by comparing profits generated by the item at different price levels;
wherein said network includes the Internet; and
wherein said processor is operable to increase the pricing of the item by a random percentage above the current price when profit at a current price for the item is at least greater than or equal to profit associated with a previous price for the item; and
wherein said processor is operable to randomly adjust the pricing of the item within a specified range round the previous price at which the profit associated with the previous price for the item was previously obtained with there is a predetermined price difference between a current price and the previous price and when profit associated with the current price is less than the profit associated with the previous price.
8. The apparatus of claim 7 , wherein the profit associated with the previous price and the previous price is stored in the memory.