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Pricing News Daily > 3/12/18

pricingnews-DailyPricing 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 logo JPG

 

SPOSEA B.V.

SPOSEA B.V. drives increased profitability for SAP users by SIMPLIFYING SAP’s Price Data Optimization, Management and Execution. We provide the SAP ecosystem with enterprise-wide Price Management that increases margins through optimized prices. Our family of products includes BrightPrice Optimizer, BrightPrice Manager, BrightPrice DealManager, and BrightPrice MarketDynamics. We provide out of the box solutions for effectively managing Pricing in SAP. SPOSEA is headquartered in Eindhoven, the Netherlands, and has offices in San Francisco, California and Walldorf, Germany.

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Headlines

Unlock Six Sigma Pricing | Professional Pricing Society

Unlock Six Sigma Pricing | Professional Pricing Society

Companies have the power to implement pricing capabilities needed for sustained profitable growth – Six Sigma Pricing. Navdeep Sodhi, Managing Director of Sodhi Pricing, is our featured guest blogger sharing expert advice on how to unlock potential in your business. The State of Pricing  Within every company exists a hidden pricing factory that holds the key […]

 

Can Xiaomi’s Killer Pricing Shake Up the TV Market in India? | NDTV Gadgets360.com

Can Xiaomi’s Killer Pricing Shake Up the TV Market in India? | NDTV Gadgets360.com

Xiaomi has now launched three TVs in India a rather short span of time and our TV expert Gagan Gupta joins host Pranay Parab to talk about this development. Can the company revolutionise the TV market in India? We discuss that and much more. We begin by talking about Xiaomi’s new TV launches namely the Mi […]

 

Legislature passes multiple health policy bills in final week – State of Reform | State of Reform

Legislature passes multiple health policy bills in final week – State of Reform | State of Reform

Prescription Drug Price Transparency The Prescription Drug Price Transparency Act (HB 4005) also passed this session. The bill requires prescription drug manufactures to annually report prices of prescription drugs and the developing and marketing costs to the Department of Consumer and Business Services. It also establishes the Task Force on the Fair Pricing of Prescription […]

 

UnitedHealthcare to pass drug rebates on to some customers | NBC News

UnitedHealthcare to pass drug rebates on to some customers | NBC News

The nation’s biggest health insurer will pass drugmaker rebates along to some customers starting next year, giving a potential break to those taking expensive prescriptions. UnitedHealthcare said Tuesday it will let people covered by certain employer-sponsored health plans collect rebates when they fill prescriptions or at the point of sale. … Separately, President Donald Trump […]

 

Ticket resale sites face crackdown on ‘opaque and misleading’ pricing | Marketing Week

Ticket resale sites face crackdown on ‘opaque and misleading’ pricing | Marketing Week

Secondary ticketing operators including StubHub, Viagogo, Seatwave and Get Me In have said the will work with the ad regulator to crackdown on some of their advertising practices as the ad regulator responds to concerns about misleading pricing in the sector. The Advertising Standards Authority has concluded a formal investigation into the sector, finding that […]

 

New Health Secretary Offers Bold Vision for Reform. But the Devil’s in the Details. | The Heritage Foundation

New Health Secretary Offers Bold Vision for Reform. But the Devil’s in the Details. | The Heritage Foundation

The root problem is that health care “prices” are not really prices, in the conventional economic sense, reflecting the direct collision between the forces of consumer demand and provider supply in anything resembling a real market. They are complex, negotiated payment agreements that take place within a sector of the economy, dominated by third-party, corporate, […]

 

Warehouse profit slumps after ‘every day low prices’ strategy | Otago Daily Times

Warehouse profit slumps after ‘every day low prices’ strategy | Otago Daily Times

The Warehouse Group today announced an adjusted net profit after tax result of $37.7 million for the first six months of the 2018 financial year (to January) – down 16 percent on the $45m posted in 2017. This profit was above the recent guidance range of $32-$35m, and delivered 9.2 cents per share dividend versus […]

 

‘Milk market resilience in 2018 continues’ | Agriland

‘Milk market resilience in 2018 continues’ | Agriland

The ongoing resilience being demonstrated in the milk market must force processors to rethink their milk pricing strategy as Irish farmers head towards peak production, according to the Irish Creamery Milk Suppliers’ Association (ICMSA). Speaking on the topic, the organisation’s dairy committee chairperson Gerald Quain said that, while he recognised that dairy markets had weakened […]

 

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Events and Resources

Webcast: Pricing Strategy Execution With Certainty 20-March | PPS and Navdeep Sodhi

Date: March 20, 2018

Time: 10:00 am Eastern

Changes in the external environment are inevitable. Companies react by rushing into strategic initiatives to defend revenues or grow profits only to realize that pricing execution is a bottleneck. Whether entering new markets — digital or traditional, major recalls, mergers or acquisitions, large-scale reorganization, or breakthrough technology, companies need be ready for unexpected pricing challenges. Rather than yield price control, companies should inspect and validate their pricing operations prior to launching any major initiative.

We will discuss how price and profit are dependent not only on external causes but also on the company’s internal operations and readiness for any eventuality. We will discuss a step-wise approach AARTI TM to help prepare your pricing operations for successful deployment.

Attendees will learn how to:

  • Assess challenges and perception gaps
  • Analyze the source and size of challenges
  • Recommend a prioritized plan to improve trust and speed to value capture
  • Train key stakeholders to understand shared objectives as well as their own roles and responsibilities to…
  • …Implement with certainty.

 

 

Workshop: Value-Based Pricing and Differential Value Quantification | Stephan M. Liozu, CPP

Date: Tue, 1 May, 2018 | 9:00 am – 4:00 pm

Location: PPS Spring Conference | Loews Chicago O’Hare Rosemont Hotel in Chicago, IL

More firms and their pricing leaders are embarking on value-based pricing strategies every year. Research shows increased adoption from 17% of firms in 2008 to about 25-30% of firms in 2016. Part of the deployment process of value-based pricing is the implementation of the Economic Value Estimation® (EVE®) process to quantify differential value. While adoption of value-based pricing and the implementation of EVE® is increasing, pricing professionals still face difficulties in designing and executing value-based pricing strategies and particularly executing the EVE® methods across their organizations.

In this unique one-day workshop, we go through the latest science on value-based pricing and on the EVE® process. We also review how to operationalize the outcome in value-based innovation, value-based marketing and value-based selling strategies. This is a unique and powerful workshop to learn theoretical and practical dimensions of EVE® and value quantification. Participants will also receive a signed copy of the “Dollarizing Differentiation Value” book as well as an eBook called “A User’s Guide to Value Modeling.”

Attendees will learn:

  • How to operationalize value-based pricing and EVE® in your daily business and track that your approach is successful
  • How to practically link value-based pricing with value-based innovation, value-based marketing, and value-based selling
  • How to use multi-functional collaboration to accelerate deployment of value-based pricing

(Level 600 Workshop)

 

 

Workshop: Price Execution for Sustained Profitable Growth | Navdeep Sodhi

Date: Wed, 2 May, 2018 | 9:00 am – 4:00 pm

Location: PPS Spring Conference | Loews Chicago O’Hare Rosemont Hotel in Chicago, IL

DESCRIPTION

Many companies find themselves ill-prepared to handle disruption or tap into innovation opportunities due to a legacy of weak pricing execution. New product introduction, organizational redesign, big data solutions, and other strategic investments – all of these critical functions can fall short without solid price operations.  Customers frame their perception of value received or procurement risk based on their vendors’ ability to execute pricing. Given the ever-changing marketplace, even smart companies need to adapt quickly with continuous price improvement.

However, companies have far more control over their pricing operations than they realize. In the workshop Pricing Execution for Sustained Profitable Growth, we will discuss a breakthrough approach for superior execution, one that can systematically eliminate pricing-related risk or leaks to bring new profits straight to the bottom-line without alienating customers. In this workshop, our discussion will include a holistic organizational approach for keeping senior management engaged while dismantling functional silos with the spirit of continuous improvement.

Attendees will learn:

  • How to find the Hidden Pricing Factory within your organization
  • How to secure trust and organizational support with evidence-based assessment of the overall pricing capability
  • How to align pricing operations with your pricing and sales strategy

(Level 500 Workshop)

 

European Pricing Summit 2018 | Finance iQ

EU Pricing Summit 2018 300x250Date: April 16-18, 2018

Location: TBD in London, England

The advent of disruptive technology, growth of e-commerce and increasing competition from global markets are just a few of the reasons why leading companies are spending time and money to develop a pricing strategy that works.

Many pricing leaders are wondering what direction to take their pricing strategy in and want to benchmark with other organisations to decide what is the most profitable option. But KPIs and pricing models are almost always confidential, and the majority of organisations are unwilling to disclose the facts and figures that the industry needs. The industry has a dilemma where practitioners want to have insights on new developments in strategies, but they are usually subject to commercial secret.

Given this situation, IQPC will be launching a limited-access, confidential mentoring panel as part of our European Pricing and Commercial Excellence Summit to enable our clients to obtain first-hand tips from our mentors to assist them in creating the most profitable pricing strategy.

29th Annual Spring Pricing Workshops & Conference | PPS

640x240-Chicago-Co-Mark-banner-11.21aDate: May 1-4, 2018

Location: Loews Chicago O’Hare Rosemont Hotel in Chicago, IL

We are excited to announce we’ll be in Chicago, IL for our 29th Annual Spring Pricing Workshops & Conference May 1-4, 2018!

You can register now and take advantage of our Early Bird Offer (Buy 2 Get 1 Free, expires March 23rd).

 

This blog series provides a forum for pricing professionals to share their insights and experience. Our guest bloggers share their knowledge about specific product or industry challenges, geographic complexities, strategies, tactics, and technologies.

 

Top Discussions

This blog category offers a collection of top pricing related conversations on LinkedIn or in the comments section of pricing related blogs and articles.

 

Pricing News LinkedIn Group

Join over 5,000 of your peers in the our LinkedIn discussion group. The group offers a place to share the latest pricing strategy and technology, news, events, resources, thought leadership, and discuss the latest pricing related successes and failures in the news.

 

Pricing Resources

Explore our collection of valuable pricing resources including:

 

The following is a daily-dose of pricing cartoonsquotes, and videos enjoy…

 

 

“Pricing is actually pretty simple…Customers will not pay literally a penny more than the true value of the product.”

     – Ron Johnson

 

 

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