PacWest Bancorp has patented a tool that matches manufacturer incentives with dealership inventory to generate custom vehicle offers. The method involves selecting a vehicle, choosing incentives, and publishing the offer to a specific target audience. GlobalData’s report on PacWest Bancorp gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on PacWest Bancorp, was a key innovation area identified from patents. PacWest Bancorp's grant share as of February 2024 was 85%. Grant share is based on the ratio of number of grants to total number of patents.
Generating and publishing vehicle offers based on manufacturer incentives and inventory
A recently granted patent (Publication Number: US11869029B2) outlines a method implemented by at least one hardware processor for streamlining the process of generating and publishing offers for vehicles at a dealership. The method involves receiving incentives from a vehicle manufacturer, inventory data from the dealership, and user selections to create personalized offers. The system utilizes machine learning to tailor offers based on selected incentives, vehicles, and publication destinations. Users can also choose audience settings for targeted publication, enhancing the effectiveness of the marketing strategy.
Furthermore, the patent includes additional claims related to the unique identification of vehicles through identifiers like Vehicle Identification Numbers (VINs), the inclusion of vehicle images in generated offers, and the use of component templates to structure offer content. The system is designed to integrate data from third-party sources, ensuring a comprehensive approach to offer creation and publication. By automating the process and leveraging machine learning capabilities, the method aims to optimize the efficiency and effectiveness of generating and distributing vehicle offers, ultimately enhancing the dealership's marketing efforts and customer engagement.
To know more about GlobalData’s detailed insights on PacWest Bancorp, buy the report here.
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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
