Multiple Criteria Buying and Selling Model
A multiple criteria buying and selling system and method is provided. A seller initially establishes a deal structure for a product, which provides seller defined selling criteria information relating to the purchasing of the product, such as volume per unit price, quality, delivery time and warranty information. A buyer will be able to review a list of deals if the seller's selling criteria matches a buyer defined buying criteria. The deal structure is preferably set up so as to provide buyers with both price and non-price criteria information that the buyer's would consider important in a purchase of the type of product being offered by the seller. The deal structure is electronically made available to potential buyers of the product. For example, the deal structure may be displayed on an Internet site.
1 . An electronic-based forum for conducting business transactions, comprising:
means for creating a virtual deal room accessible by at least one seller and a plurality of buyers, the virtual deal room being dedicated to carrying out a business transaction for a specific product or service;
means for aggregating purchase orders from at least two of the buyers of the plurality of buyers;
means for presenting the aggregated purchase orders to the at least one seller; and
means for closing a transaction between the at least one seller and the at least two buyers regarding the aggregated purchase orders.
2 . An electronic-based forum for conducting business transactions, comprising:
a first system for creating a virtual deal room accessible by at least two sellers and at least two buyers, the virtual deal room being dedicated to carrying out a business transaction for a specific product or service;
a second system for aggregating at least one of purchase orders or offers for sale of the specific product or service from at least one group of the sellers and buyers;
a third system for presenting the at least one of the aggregated purchase orders or aggregated offers for sale to at least one seller or buyer, respectively; and
a fourth system for closing a transaction for the specific product or service.
3 . An electronic-based forum for conducting business transactions, comprising:
a first system for creating a virtual deal room accessible by one buyer and a plurality of sellers of a specific product or service;
second system for aggregating offers for sale of the specific product or service from at least two of the sellers;
a third system for presenting the aggregated offers for sale to the buyer; and
a fourth system for closing a transaction for the specific product or service.