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Pricing News Daily > 11/13/14

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.

EditionSponsor-Wiser

This Edition is Sponsored by:

Wiser

Wiser provides a complete suite of solutions to give retailers, brands, and manufacturers the edge to stay both competitive and most importantly, profitable. Wiser’s flagship product is WisePricer, a full-featured dynamic pricing and merchandising engine that monitors, analyzes and reprices retail products in real-time. WisePricer enables retailers to boost profit margins and revenue, price with confidence, and improve merchandising through powering the development of a sound pricing strategy. Wiser also offers a MAP monitoring solution, WiseMapper, for brands and manufacturers to monitor and protect their pricing across the thousands of retailers selling their products.

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Headlines

Pricing fashion with science | McKinsey on Marketing & Sales

Pricing is one of the most challenging areas for fashion apparel retailers due to high SKU complexity, limited item comparability, and frequent flow of new collections. Historically, pricing has been more art than science. However, the ability to apply statistical approaches to even highly seasonal products such as fashion shorts, or high-priced goods such as […]

Snagging the Best Holiday Deals | WSJ

When it comes to holiday shopping, it pays to track what retailers do, not what they say. For all the hype, Black Friday isn’t the day to find the best deals, according to new data from Adobe Systems Inc., which has collected information on one trillion visits to 4,500 retailing websites since 2008. Instead, retailers’ […]

Sprouts taking long-term approach to pricing | Supermarket News

Sprouts Farmers Market looks at pricing as a long-term proposition rather than responding quickly to competitive changes, chain executives told analysts in a conference call. “We don’t react to pricing the day someone changes a line item on a cost sheet,” James Nielsen, COO for the Phoenix-based chain, said. “We look at 1,300 items in […]

Microsoft’s ‘loss leader’ Office 365 pricing strategy? NO THANKS | The Channel

Sales staff are paid on margin and profit and “can’t afford to sell products at a loss”, said Martin Hellawell, chairman at Microsoft LSP Softcat. “I don’t believe in the principle that you need to sell at a loss on the first sale [to get a foot in the door]. I want to make money […]

Companies Will Start Reading Your Mind To Figure Out How Much You’re Willing To Pay | know-loghy

The price that companies set for their products is already a high-stakes game of psychology and competitive strategy. But there’s still a lot of guesswork and uncertainty. Would pricing be more simple and profitable if market researchers could just read consumers’ minds? Like it or not, such “feel good” pricing could be coming down the […]

Adding additional value to your products | Retail Contrarian

Price is the amount of money your customer pays for a product.  Value is what your customer perceives the benefits of that product to be, and the emotional connection he/she has to the product, the employee, and the company, in relation to the price. How retail associates handle and present products to her/his customer adds […]

Why You’re Losing Proposals | Jeff Archibald

You didn’t practice price-bracketing. Price bracketing is a simple concept to execute with proven results. Here’s a quick ‘n’ dirty explanation: in the Pricing section of your proposal, lay out a pricing table with three options for your services/product (as opposed to just one option). Give those options names like Premium, Pro, and Standard – […]

4 Pricing SNAFUs You Need to Fix Right Now | Miki Strong

When it comes to pricing your products and services, there’s an over-abundance of how-to information available online. The problem is, how do you know what’s good, what’s garbage and what’s great advice? How do separate the fluff and filler from the fabulous? How do you get pricing advice that makes sense for YOU and YOUR […]

Four ways to work out the best price for your product or service | SmartCompany

Ned Dwyer launched his web development business Tweaky in 2012 as a way for SMEs to make small changes to their websites for a set fee. The idea was to charge people $25 per tweak – hence the business’s name – for services such as adding a shopping cart button or a new logo to […]

Pittsburgh City Council considers possible ‘dynamic’ parking pricing | Pittsburgh Post-Gazette

Pittsburgh City Council will consider continuing a pilot program on dynamic pricing for public parking, with an eye toward extending the concept citywide. At a council public hearing Thursday, a pair of Carnegie Mellon University professors reported on a pilot program they have been using since January 2013 on 400 parking spaces near the university […]

This Week in Pricing > 11/9/14

TWIP 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 Sponsored by: Value Innoruption Advisors Founded by Dr. Stephan Liozu, Value Innoruption Advisors provides training and consulting resources for organizations interested in embedding value-based methodologies in their […]

 

Events and Resources

Webcast: Learn How Crawford Supply Uses Strategic Pricing Tools to Identify and Capture Available Margin Premiums | SPA

Tuesday, November 18, 2014 2:00 PM Eastern Register to attend our webcast that starts at 2:00 PM EST where Jeff Heksh, Sales Director of Crawford Supply will share their journey to pricing excellence and how they are leveraging science-based strategic pricing tools to identify and capture available margin premiums. To implement a solution that enhanced […]

Webcast: Learn How B&B Trade Distribution Centre Uses Strategic Pricing Tools to Identify Price-sensitive Products and Services | SPA

Tuesday, December 9, 2014 2:00 PM Eastern Register to attend our webcast that starts at 2:00 PM EST where Robb Howe, General Manager for B&B Trade will share their journey to pricing excellence and how they are leveraging science-based strategic pricing tools to identify price-sensitive products and services. To implement a solution that enhanced profitability, […]

Conference: Strategic Pricing Conference | SPA

When: January 15-16, 2015 Where: Ft. Lauderdale, FL at the Ritz Carlton Learn how leading manufacturing and distribution executives have unlocked the keys to faster growth, stronger customer relationships, and market-leading profitability with SPA’s proven strategic pricing processes and technology. Event Overview Equal parts strategy and practical tactics, this complimentary Strategic Pricing Executive Overview event at the Ritz […]

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