Top Headlines

Petrol, diesel pricing: Here is a way out for beleaguered Indian fuel retailers | The Financial Express

Petrol, diesel pricing: Here is a way out for beleaguered Indian fuel retailers | The Financial Express

In an earnest effort to ‘clean up’ the markets and wean them off subsidies, the government, on June 16, rolled out a dynamic pricing mechanism for petrol and diesel fuel prices across India. In an earnest effort to ‘clean up’ the markets and wean them off subsidies, the government, on June 16, rolled out a […]

How ‘Gaming’ the System Helped This Business Get Thousands More Customers | Entrepreneur

How ‘Gaming’ the System Helped This Business Get Thousands More Customers | Entrepreneur

Sometimes it’s busy, sometimes it’s slow. Such is the nature of running nearly any kind of business. Off-season lulls seem to drag on forever, and bad weather causes customers to change their plans and spend their dollars elsewhere. Simply offering a coupon, sale, matinee price or happy hour doesn’t always cut it. Even dynamic, demand-based […]

5 Features Your Retail App Is Missing | Twice

5 Features Your Retail App Is Missing | Twice

Personalized content and offers: Nearly nine in 10 consumers say that personalization has some impact on their purchasing decisions. By personalizing content, retailers can help present shoppers with the products and/or deals that are most relevant to them, and that they are most likely to take advantage of. By recommending products based on previous shopping history or […]

Optimization Beyond Prediction: Prescriptive Price Optimization | NEC

Optimization Beyond Prediction: Prescriptive Price Optimization | NEC

This paper addresses a novel data science problem, prescriptive price optimization, which derives the optimal price strategy to maximize future profit/revenue on the basis of massive predictive formulas produced by machine learning. The prescriptive price optimization first builds sales forecast formulas of multiple products, on the basis of historical data, which reveal complex relationships between […]

J.C. Penney’s Buzz Is Gone For Good | Forbes

J.C. Penney’s Buzz Is Gone For Good | Forbes

What haunts J.C. Penney? Competition from on line retailers is the first thing that comes in mind, as explained in the company’s financial report. Then there are two strategic mistakes made close to six years ago. The first mistake was the company’s pricing strategy – the replacement of sales through coupons with everyday low prices. The […]

Featured Content

Pricing News Daily > 8/18/17

Pricing News Daily > 8/18/17

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:     Strategic Pricing Solutions Strategic Pricing Solutions, LLC (SPS) is a management […]

This Week in Pricing > 8/19/17

This Week in Pricing > 8/19/17

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:     Value Innoruption Advisors Founded by Dr. Stephan Liozu, Value Innoruption Advisors provides training and consulting resources for organizations […]

Uber drivers gang up to cause surge pricing, research says | The Telegraph

Uber drivers gang up to cause surge pricing, research says | The Telegraph

Uber drivers team up in gangs to force higher prices before they pick up passengers, research has revealed. Researchers at the University of Warwick found Uber drivers in London and New York have been tricking the app into thinking there is a shortage of cars in order to raise surge prices. According to the study. drivers manipulate Uber’s algorithm […]

Smartphone Market Competition Will Keep iPhone 8 Prices Below $1,200 | eWeek

Smartphone Market Competition Will Keep iPhone 8 Prices Below $1,200 | eWeek

There’s no question that an Apple iPhone is an expensive device. The cheapest iPhone 7 will set you back $649. A fully tricked-out iPhone 7 Plus costs $969, which is really expensive for any smartphone. But if mobile market blogger’s prediction becomes reality, the iPhone 8 prices will reach a record high when it’s introduced […]

Strikes stall normal life in district | The Hindu

Strikes stall normal life in district | The Hindu

While the dealers would refill their stocks on Wednesday, the shortage is expected to continue for another day. According to Thiruvananthapuram District Petroleum Traders Association secretary P.K. Biju, the stir has been organised in protest against the alleged discrepancies in the dynamic pricing system of petroleum products and the alleged failure of oil marketing companies […]

Pricer's Points

Pricer’s Points: Pricing Optimization – The business practice most managers love to hate | Gregory Grzegorzyk

Pricer’s Points: Pricing Optimization – The business practice most managers love to hate | Gregory Grzegorzyk

This is the direction of pricing optimization. It’s not that sales executives, marketing promotion managers, sales operations, and merchandising people are idiots. It’s just that the process has become so complex and the competition so smart, that it’s imperative companies apply advanced analytic science to solving the multidimensional challenge of setting the right price, for every customer […]

Pricer’s Points: This Map Ranks The Affordability Of Houses In Major U.S. Cities (Relative To Income) | Anastasia Ivanov

Pricer’s Points: This Map Ranks The Affordability Of Houses In Major U.S. Cities (Relative To Income) | Anastasia Ivanov

Using median income data from the U.S. census and median home prices from Zillow, this map shows how many years of median income it costs to purchase a median house in each of these cities. Based on this calculation, Detroit is the most affordable city because the median home price is only 1.5 times the […]

Pricer’s Points: Buying A Big House Comes With Big Hidden Costs | Anastasia Ivanov

Pricer’s Points: Buying A Big House Comes With Big Hidden Costs | Anastasia Ivanov

You have to consider all the angles before buying a home. While owning big beautiful home might be your dream, the cost of owning one over 30 years can quickly turn it into a nightmare. It’s important not to let short-term decisions impact long-term financial goals like retiring early or saving for your child’s education. […]

Pricer’s Points: Private labels can be more powerful and profitable than classic brands, enabling richer experiences and faster growth | Peter Fisk

Pricer’s Points: Private labels can be more powerful and profitable than classic brands, enabling richer experiences and faster growth | Peter Fisk

When I want to cook a great dinner at home, I head straight to Marks & Spencer’s food store. M&S’s Cook range of premium quality, organically farmed self-assembly dishes makes entertaining easy. Not only do they bring together all the ingredients, fresh and locally sourced, but there is an instore tasting kitchen and even a […]

Pricer’s Points: The idea of an energy price cap could damage the energy markets | Lord Redesdale

Pricer’s Points: The idea of an energy price cap could damage the energy markets | Lord Redesdale

The recent hikes in energy prices, has led to the government contemplating price caps, because as they have said, the energy markets are not working. This idea was widely derided when Ed Miliband announced the Labour policy of a price freeze out of the blue in 2015. Even though Labour where not likely to be […]

Top Discussions

Discussion: How Hype and Greed Are Ruining Chinese Bike-Sharing (i.e., Mobike and Ofo) | Jeffrey Towson

Discussion: How Hype and Greed Are Ruining Chinese Bike-Sharing (i.e., Mobike and Ofo) | Jeffrey Towson

During the 2007 financial crisis, former Citigroup CEO Charles Prince famously said: “When the music stops, in terms of liquidity, things will be complicated. But as long as the music is playing, you’ve got to get up and dance.” Looking at the bike-sharing business in China today, you see a lot of such dancing. You […]

Discussion: Amazon looks to debut Echo-only streaming music service, undercut industry pricing by half | Apple Insider

Discussion: Amazon looks to debut Echo-only streaming music service, undercut industry pricing by half | Apple Insider

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 […]

Discussion: Drugmakers’ Pricing Power Remains Strong | WSJ

Discussion: Drugmakers’ Pricing Power Remains Strong | WSJ

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 […]

Discussion: Uber Plans To Kill Surge Pricing, Though Drivers Say It Makes Job Worth It | NPR

Discussion: Uber Plans To Kill Surge Pricing, Though Drivers Say It Makes Job Worth It | NPR

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 […]

Discussion: Why Smart People Pay Too Much For Paper Products And Cleaning Supplies | Bruce Gottfried

Discussion: Why Smart People Pay Too Much For Paper Products And Cleaning Supplies | Bruce Gottfried

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 […]