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Pricing News Daily > 2/19/19

PND is a digest of pricing focused news, thought leadership, events, jobs, training and certification resources for pricing professionals.

This Edition is brought to you by:

PriceBeam

B2B and B2C Pricing, Marketing, and Finance team leaders struggle to capture fresh, reliable, and actionable Willingness-To-Pay Pricing data to be able to effectively optimize all prices for all market segments GLOBALLY.

  • Are you confident that you have the right price for your existing products or services in every market?
  • Do you know what the price should be for a new product yet to be launched, or existing products into new markets?
  • Do you know what features are REALLY driving your customers willingness to pay by micro-market segment?
  • Do you have the tool to capture the data required to support REAL value-based pricing?

Click to learn more

Texas Rangers’ fans upset at prices in new Globe Life Field | Fort Worth Star-Telegram

Texas Rangers’ fans upset at prices in new Globe Life Field | Fort Worth Star-Telegram

When the Texas Rangers polled their season ticket customers on what their biggest priority was for seats at the new stadium, the message was no personal seat licenses. The dreaded PSL is the bane of every single season ticket customer all over this great nation. The Rangers delivered. There are no personal seat licenses for […]

 

Potential price-setting power of institutional landlords flagged | Irish Times

Potential price-setting power of institutional landlords flagged | Irish Times

The influx of large private landlords into Ireland has raised the risk of investors developing “monopolistic or oligopolistic pricing power” in rent-setting, especially in densely populated city centres, according to a newly published report. The report, compiled by the economics division of the Department of Finance it says institutional landlords, who own in some instances […]

 

Letter: Allow drug price negotiations | The Columbian

Letter: Allow drug price negotiations | The Columbian

Current laws have tied the hands of our state medical programs by denying them the right to negotiate medication prices with pharmaceutical manufacturers. We tell them that they will have to take what they can get and deal with the price gouging. So in turn, the state programs have to constantly judge which brand is […]

 

TV Drug Ads Will Soon Include Prices: Will It Help Consumers? | HealthLine

TV Drug Ads Will Soon Include Prices: Will It Help Consumers? | HealthLine

Prices coming to television The whole purpose of direct-to-consumer (DTC) advertising is to get patients to go to their doctors and inquire about a brand-name drug, which is why most ads’ “action item” is telling you to “talk to your doctor.” DTC is also a practice that’s banned in every country except for the United […]

 

Stop Lowering Your Prices and Start Increasing Value | Fstoppers

Stop Lowering Your Prices and Start Increasing Value | Fstoppers

Pricing was the area of professional photography I struggled with the most in the early years. However, it was far too recently that I realized I had a fundamental error in my approach to pricing and value. I’ve always been completely open about my naivety towards business when I first jumped in to full-time photography. I […]

 

Does your website comply with price transparency rules? | Legal Futures

Does your website comply with price transparency rules? | Legal Futures

For many law firms, new rules on price transparency came into force on December 6th, 2018. With a widespread public shift in behaviour over recent years towards comparing providers online, the new rules make it even easier for consumers to make the best decision. Your firm should now be asking itself if your your website […]

 

Commentary: Make drugmakers justify their price increases | HeraldNet

Commentary: Make drugmakers justify their price increases | HeraldNet

At a time when we at Kaiser Permanente are working hard to find efficiencies that bring down costs, our pharmaceutical costs keep going up. In the last two years, prescription drug prices for Kaiser Permanente in Washington have increased by $70 million. The situation is even worse for specialty drugs. These higher-cost, hard-to-manufacture, or hard-to-handle/administer […]

 

The decoy effect: how you are influenced to choose without really knowing it | The Conversation

The decoy effect: how you are influenced to choose without really knowing it | The Conversation

Price is the most delicate element of the marketing mix, and much thought goes into setting prices to nudge us towards spending more. There’s one particularly cunning type of pricing strategy that marketers use to get you to switch your choice from one option to a more expensive or profitable one. It’s called the decoy […]

Webinar (On-Demand): Pricing in New Product Development – From Afterthought to Integral Part of the Process | PriceBeam

This webinar looks at how pricing can and should play a more integral role in New Product Development (NPD) instead of being an afterthought once the product is already designed and produced.

Participants and viewers will learn about:

  • How to use pricing and willingness-to-pay research to create new products or services that have higher success rates once launched
  • How to integrate willingness-to-pay research in the product design process
  • How to better understand what prospective customers actually value, and what they don’t value
  • How to test different concepts for market viability and ability to achieve solid prices in the market place.

 

Webinar (On-Demand): Machine Learning & Data – The Latest Pricing Opportunity | PPS and Vistaar

In today’s ever-evolving world, data and software driven strategies are imperative to creating sustained commercial success.

Computers are more adept than humans at sorting through data with complex variables such as frequently fluctuating costs, rapidly evolving pricing models, and shifting customer priorities. Modern pricing software solutions, powered by advanced algorithms and machine learning techniques, enable businesses to constantly analyze data on an unparalleled scale and drive decision making based on data.

In this PPS webinar, Vistaar’s Director of Product Management, Dushyant Zutshi, discusses how advanced algorithms and machine learning techniques drive intelligent pricing and sales strategies for success in the data-driven world.

 

Webinar (On-Demand): Machine Learning & Pricing with PPS | Perfect Price

Watch CEO of Perfect Price, Alexander Shartsis, discuss machine learning and pricing with the Professional Pricing Society (PPS).

PPS is the world’s largest association of pricing professionals, and usually asks tough questions!

 

Webinar (On-Demand): Value-Based Pricing foundation done right – Conjoint Analysis | PriceBeam

Value-Based Pricing is considered a superior strategy for most industries and businesses. But it also requires a solid foundation of data and market insights. In this webinar we will take an in-depth look at the powerful insights that can be created through price research, in particular using conjoint analysis

Participants and viewers will learn about:

  • How Value-Based Pricing can be supported with price research
  • Different price research methods
  • How Conjoint Analysis can provide powerful insights and support for a Value-Based Pricing strategy
  • Tips and tricks for running a conjoint analysis price research project.

 

30th Annual Spring Workshops & Conference May 7-10, 2019 | PPS

We are excited to announce we’ll be in Atlanta, GA for our 30th Annual Spring Pricing Workshops & Conference May 7-10, 2019! You can register now and take advantage of our Early Bird Offer (Buy 2 Get 1 Free, expires March 29th).

 

Explore our collection of valuable pricing resources including:

 

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Join 1,000’s of your peers in the our LinkedIn discussion group. The group features informative pricing strategy and technology focused news, events, resources, thought leadership, cartoons, quotes, and discussions about the latest pricing strategy, tactics, and tech successes and failures in the news.

 

 

“The single most important decision in evaluating a business is pricing power,” Buffett told the Financial Crisis Inquiry Commission in an interview released by the panel last week. “If you’ve got the power to raise prices without losing business to a competitor, you’ve got a very good business. And if you have to have a prayer session before raising the price by 10 percent, then you’ve got a terrible business.”

     – Warren Buffett

Posted in: Pricing News Daily