OnDemand WTP Pricing Research

Pricing News Daily > 2/20/19

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:

The Perfect Price AI platform makes millions of pricing decisions for forward-thinking companies around the world. Our cloud-based service allows customers to quickly anticipate and react to changes in demand in real-time – enabling them to maximize revenues, profit, and utilization.

Its machine learning leverages proprietary data – the biggest competitive advantage–to increase average rates, utilization, and profit.

Perfect Price works with forward-thinking companies in industries ranging from rental car and airline to sports clubs and gas stations.

Study Reveals Issues with Online Pricing Strategies | ShopSafe

Study Reveals Issues with Online Pricing Strategies | ShopSafe

Research conducted by academics in Bologna has revealed that while safe shopping online can often be the best way for consumers to hunt for a bargain, the rise of AI-controlled pricing systems might make this harder to achieve in the future. Experts warn that algorithms used to balance prices automatically across a number of major […]

 

Pricer’s Points: Why Does Bottled Water Cost Significantly More than Tap Water?
 | Elena Galli

Pricer’s Points: Why Does Bottled Water Cost Significantly More than Tap Water?
 | Elena Galli

More or less one month ago I was at the airport, heading back to Barcelona after having spent some days in my hometown, Ferrara, a little city in Northern Italy. I was very thirsty so I headed to the first bar I saw and ended up spending an excruciatingly expensive price for my half a […]

 

Lilly, other insulin makers must face price-gouging lawsuit, judge rules | Indianapolis Business Journal

Lilly, other insulin makers must face price-gouging lawsuit, judge rules | Indianapolis Business Journal

Indianapolis-based Eli Lilly and Co. and two other insulin makers must face claims they gouged diabetes patients through deceptive price lists for their life-saving drugs. U.S. District Judge Brian Martinotti in New Jersey on Friday allowed a proposed class-action lawsuit filed by 67 diabetics against Lilly, Novo Nordisk A/S and the U.S. unit of French […]

 

Fonterra and Synlait in war of words over dairy reform | RNZ News

Fonterra and Synlait in war of words over dairy reform | RNZ News

In a submission on the reform process, Fonterra said there was now plenty of competition, so many of those rules could be relaxed. But Synlait’s submission accused Fonterra of often paying more to farmers than market conditions for milk said it should. It funded this higher price by sacrificing the value of its own shares. […]

 

Hospital price rule causes confusion | Rushville Republican

Hospital price rule causes confusion | Rushville Republican

“While mycareINsight is more user friendly than the chargemaster, it still provides charges, which are not what people will pay,” Platt said. “Charges represent a starting point for hospitals contracting with insurers who routinely negotiate discounts from charges on behalf of enrollees.” Platt said the guidelines are a step in the right direction. “I think […]

 

Crank Up the A/C, Crank Up the Cost: States Consider ‘Surge Pricing’ for Power | The Pew Charitable Trusts

Crank Up the A/C, Crank Up the Cost: States Consider ‘Surge Pricing’ for Power | The Pew Charitable Trusts

Crews from Southern California Edison work on damaged power lines. The utility and several others in the state are required to switch to time-of-use pricing, which charges more when electricity is costlier to produce. Just as more people fly during the holidays and drive during rush hour, the demand for electricity peaks at predictable times. […]

 

Warriors take ticket prices back to the 1990s for season-opener against Bulldogs | Stuff NZ

Warriors take ticket prices back to the 1990s for season-opener against Bulldogs | Stuff NZ

The Warriors are going back to the ’90s as they look to pack out Mt Smart Stadium for the season-opening game against the Bulldogs next month. As part of the club’s 25th anniversary celebrations, the Warriors have unveiled a ‘1995 prices’ concept which sees adult tickets for the March 16 clash set at a price that […]

 

Study: Digital behavior could impact car insurance prices | WISH TV

Study: Digital behavior could impact car insurance prices | WISH TV

“If consumers want to take those steps, then they can shop online in the morning versus wait late at night or they can use a certain device,” Connolly said, “but I think a lot of consumers wouldn’t want to make massive changes in their online behaviors.” Connolly said these digital behavior ratings factors could be implemented […]

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:

 

Pricing News on LinkedIn

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