Ocean Tomo Bid-Ask Market patent auction lot 113 enables unique, engaging, geo-targeted marketing and sales campaigns to empower brands and drive sales

Ocean Tomo Transactions, LLC will auction technology applicable to e-commerce retailers, multi-channel marketing firms, online auction companies, retail kiosk operators, digital signage companies and interactive entertainment companies. The Ocean Tomo Bid-Ask™ Market Lot 113 patent discloses an auctioning system and methods of performing an auction interacting with multiple devices that include the main server, remote terminals, and remote individual communication devices that communicate with one another and are adapted to display information to a user about a product or service for sale, and information pertaining to predefined auction parameters for the user to attempt to purchase said product or service.

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The invention relates to a data transmission system which, by means of a precise method, allows the displaying of products on devices equipped with a display, with the possibility for an immediate interaction with the individual concerned, who in real time may make a bid and be informed as to the prices of the other bids and then find out whether he/she has been awarded the product and/or service. Once the auction has terminated, the winner may collect the product and/or the service directly from the retail outlet, ensuring the maximum privacy and the non-traceability of any remotely transmitted data. The system also envisions the possibility of assigning points to the purchaser so that, in the event of failure to collect and pay for the merchandise, the purchaser may be penalized. The same scoring system may be applied to the suppliers depending on the quality of the goods/services provided.

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The technology in lot 113 enables geographic consumer targeting, enhancing brand engagement to increase transaction volume. With global ecommerce volume surpassing $3 trillion USD, according to Internet Retailer, the technology in this lot provides important business value creation for retailers, mobile device and payment companies as well as multi-channel marketing firms.

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