February 7, 2012
Digonex Positions to Dominate Dynamic Pricing Market with 2 New Patents
Newly Awarded U.S. Patents Strengthen Current Portfolio While Adding Significant Protections
Indianapolis, IN. -- Digonex, a leader in dynamic pricing technology, today announced that it has been issued 2 new patents by the United States Patent and Trademark Office. The company now has a portfolio of 7 issued patents relating to dynamic pricing, clearly establishing its position as the leading owner of dynamic pricing patents in the sports and entertainment industries.
The newly awarded US patents: #8112303 and #8095424 demonstrate Digonex’s continuing innovation in the field of dynamic pricing. These new patents give specific protections to Digonex’s proprietary pricing platforms, including pricing of items that have a limited quantity and an expiration time like tickets for an event or hotel room reservations, and the pricing of items which have unlimited quantities like digital music or eBooks.
“As companies, hotels and sports team become more sophisticated in how they price their services and communicate to their customers our patents ensure the safety of their investment in our technology,” said Jan Eglen, CEO of Digonex. "These patents underscore our commitment to lead in all aspects of the pricing market. We are particularly pleased to have been issued our “303” patent which is important to pricing in the sports, entertainment, and hospitality industries.”
The newly issued patents issued relate to the following:
- Patent #8112303 - Digital online exchange for pricing items to exhaust inventory by an expiration time: A computer, which knows the sales history for an item available in a limited quantity, prices that item to sell it out by its expiration.
- Patent #8095424 - Dynamic pricing of items based on sales criteria: A computer prices media items (e.g. music tracks, eBooks, or movies) which are grouped according to similar sales criteria. The items in some groups are more valuable than the items in others, and their pricing reflects that.
These new pieces of the Digonex plan position the company as a technological powerhouse in the rapidly developing smart pricing marketplace. Designed to integrate easily with most platforms, Digonex pricing solutions continuously identify the ‘sweet spot’ where prices follow perceived market value and generate maximum economic return for clients while still providing prices consumers find acceptable.
The impact that dynamic pricing can have on selling and purchasing behaviors is significant and can provide a win-win solution for retailers and consumers. Dynamic pricing is already becoming prevalent in many industries including event ticketing, e-commerce and digital media.
Since its beginning, Digonex has been focused on pursuing patents to protect the company’s assets. In addition to the 7 awarded patents, Digonex has eleven further applications pending at the USPTO, ensuring that the company will continue to be able to defend its position as a leader in a competitive marketplace.
Digonex Technologies focuses primarily on development of automated and optimized pricing platforms for e-commerce, allowing client companies to increase customer retention, and maximize revenue. Digonex has been awarded five patents for their innovative pricing systems.
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Media Contact -- Chris Pohl, Director of Public Relations - 317.638.4150 X222