This is the fourth in a six part blog series on how manufacturers and distributors can apply Six Sigma methodology to the pricing function to generate repeatable margin gains. This blog covers the importance of effective analysis of the right measurements and metrics to identify the root causes of defects in your pricing process. All pricing practice […]

The Mylan executive has some familiarity with Capitol Hill — she is the daughter of Sen. Joe Manchin, D-W.Va. But lawmakers so far haven’t given any deference to her, and several other committees have called for investigations into the price increase. Bresch noted that Mylan has said it will begin selling its generic version for […]

In this 2016 report, Channel Harvest Research has found disconnects between agents’ perceptions of the importance of insurance pricing and technology and the performance of their favored independent agency carriers on those attributes. Survey of 1,900 agents and agency principals shows performance lags expectation Channel Harvest’s 2016 online survey drew nearly 1,900 responses, with 72% […]

All prices are ultimately based on feelings, both yours and theirs. It’s important to note other feelings, such as how strongly the clients feel their need, and what they feel they can pay. It’s especially important to understand what they feel you’re worth. But most important is what *you* feel you’re worth. Oscar Wilde once […]

One day recently, we visited Amazon’s website in search of the best deal on Loctite super glue, the essential home repair tool for fixing everything from broken eyeglass frames to shattered ceramics. In an instant, Amazon’s software sifted through dozens of combinations of price and shipping, some of which were cheaper than what one might […]

Pricing News Daily is a digest of top pricing strategy in the news, strategy expert and technology leader’s thought leadership, industry news and events, and resources for pricing professionals, business owners, creative professionals, and independent contractors. This Edition is brought to you by:    SPOSEA B.V. SPOSEA B.V. drives increased profitability for SAP users by SIMPLIFYING […]

The decision marked a sharp contrast with how the company has handled surge pricing during disasters—natural and otherwise—in the past. In October 2012, Uber enraged New Yorkers by hiking prices during Hurricane Sandy. It angered them again the following year when it charged as much as seven times normal fares during a heavy snowstorm. And […]

This Week in Pricing is a recap of the week’s best pricing focused news, strategy expert and technology leader’s thought leadership, industry news and events, and resources for pricing professionals. This Edition is brought to you by:     Strategic Pricing Associates SPA is the leading provider of pricing analytics to 100′s of complex companies of all […]

Using Pricing to Differentiate When your price is higher because you create greater value and need to capture more to deliver it, it often makes better sense to go on the offensive and immediately disclose your higher pricing—especially when you can easily justify a higher price. By sharing the price very early in a conversation, […]

Last week a friend told me that her sister’s business had overpaid their taxes and without justification the government would not refund the overpayment.  I was skeptical of the story and responded that there is a very clear process for requesting refunds of overpaid taxes or applying them to the subsequent year, and the IRS […]

Anonymous asked: Yo E, how do you deal with the anxiety of pricing a commission/job for a client in person? I tend to avoid agreeing to things in person and I usually ask for 24 hours before I say yes to anything. It takes discipline because sometimes I get anxiety it appears sus to the […]

Pricing is not just about having the right price point, but to a large extent also about having the right price perception. Behavioral pricing is an area that provides you with several different tactics on how to communicate price and adjust your offer so that the price looks right.  #1 Offer alternatives and the ‘anchor’ effect […]

Warren Buffet famously said that “if you have to have a prayer session before raising the price by 10 percent, then you’ve got a terrible business”. However most businesses are facing an ever increasing pricing pressure, possibly due to lack of prayer sessions. The text-book answer to this situation is to increase value delivered to […]

Does it really matter if Amazon eliminates list prices? There have been several recent articles focused on the death of list pricing and/or on how list pricing is so deceptive that it’s useless anyway. Here is my take… 1 – This sounds like an overreaction to lawsuits where sellers are manufacturing list pricing that is […]

While we all understand what a price represents few realize the impact of prices in an organization. But pricing is not an occult science or the area of study only for post-graduates and C-level executives. Pricing is everywhere and sometimes it works against the very nature of understanding how to price your products. Why? Because […]

In the early days of music streaming, companies experimented with offerings priced at around $5, but those services usually came with stringent limitations on song skipping or number of registered devices. Consumer response was tepid, as users seemed willing to spend the extra money for full control over their listening experience. Industry competitors, led by […]

Pharmaceutical companies’ power to raise prices is firmly intact despite pushback from health insurers, scrutiny by U.S. lawmakers and anxiety about rising prescription drug spending. More than two-thirds of the 20 largest​pharmaceutical companies said price increases boosted sales of some or most of their biggest ​products in the first quarter, according to a Wall Street […]

Sometimes you call an Uber, and what you thought would be an $8 ride is going to be two, three, even four times more — the result of greater demand brought on by a blizzard, or a baseball game. Whatever the reason, surge pricing is not fun. It turns out Uber is working to fix […]

Since joining Paramount Paper and Plastics Inc. I have experienced working under a different business model. Under this model an item is marked up a fixed maximum percentage to all customers. If there is extreme competitive pressure on an item it is reduced a maximum of 5%. Other items on the order are not raised […]

I had an interesting experience this week: I just bought a brand-new hardcover novel for less than I would have paid for the ebook. I wouldn’t have noticed except that I’ve been doing a lot of stuff online this week, and Amazon, good marketers that they are, sent me an e-mail to let me know […]