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System and method of utilizing wireless beacons, social media and smart phones for market data and research

IP.com Disclosure Number: IPCOM000246834D
Publication Date: 2016-Jul-05
Document File: 6 page(s) / 249K

Publishing Venue

The IP.com Prior Art Database

Abstract

A method to use beacons with RFID or NFC on everyday goods and integrate it with social media profile stored on personal smart phone. Every purchase and/or usage of the goods would be recorded and associated with individual social media profile. That will give huge support for targeted sales and advertising and will provide important data for market analysis.

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System and method of utilizing wireless beacons , , for market data and research

Business problem


Companies spend a lot of money and time for market analysis to sell the product and target the advertisement to specific population . It takes a lot of effort to verify what brand sells the most, what are the drivers for customers to purchase goods, what attracts the customer and what is his or hers profile . Most reliable and significant data could be gathered, while each purchase and/or usage of the goods is linked with the person's social media profile. That will enable new opportunities for companies to support and advertise their sales and perform detailed market analysis.

social media and smart phones

social media and smart phones

Wireless Tagging Device - Small, wireless device attached to products that businesses are interested in understanding buying habits , usage habits and target markets.

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Smart phone - Handheld device that is capable of receiving signals from various wireless tagging devices (like RFID) and running algorithms to determine usage GPS - Standard GPS satellites that broadcast spatial location information to the smart phone.

Mapping Software - Services such as Google Maps can be paired with GPS coordinates and Wireless Signals to understand where the product is being used . Social Media - Analysis of social media profile will be utilized to build a profile of the smart phone's owner.

Product DataStore - Centralized data store that collects information about all products, their usage patterns and user profile
Product Analysis - Analytics engine that mines data store for trends
Special Offers - Sent directly to the smart phone of the user as an incentive for continuing to use or buy a certain product such as a loyalty card .

Novelty:
Innovative way for gathering behavioral patterns of customers in diverse

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to the consumer profile, e.g. display change when specific consumer is in close proximity.

The following diagrams describe the methods by which :
A) Product in range activates users mobile device, matches with user data and sends information to data store
B) Information in data store is analyzed in terms of personal usage preferences to support targeted advertising and promotions
C) Information in data store is analyzed and used for market research to improve product quality, advertising and sales

situations utilizing wireless beacon devices.
Each subject of interest is correlated with consumer social media profile ,

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  usage combined with other products is included and available for analysis . Vast possibilities to introduce better profiled loyalty programmes based on

external conditions affecting purchase decisions, e.g. time spent in specific location, other offerings in proximity, previous choices, etc.

After purchase usage pattern, e.g. average time of usage, locations of usage,

product usage and consumption, e.g. wearing given clothes at a given location or event (concert, sport ev...