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Pricing News Daily > 3/14/19

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:

Vistaar

Vistaar is leading SaaS software provider that enables companies to optimize pricing, promotion, configuration, and rebate management.  Our solutions are powered by predictive models leveraged by machine learning that deliver profitable growth and maximize shareholder value.  Our world-class customer base spans a broad range of industries throughout the Global 2000 and includes: manufacturing, beverage alcohol, retailers, and many others.

Malibu Strengthens Protections to Prohibit Price Gouging | Pepperdine Graphic

Malibu Strengthens Protections to Prohibit Price Gouging | Pepperdine Graphic

In response to reports of a spike in rent prices in Malibu after the Woolsey Fire, the Malibu City Council unanimously passed an ordinance Monday, Feb. 11 to increase protections against price gouging in the city. Malibu first prohibited price gouging on Dec. 4, 2018 when the council adopted an urgency ordinance that extends state […]

 

‘The liquid milk price for farmers had become a joke’ | Independent

‘The liquid milk price for farmers had become a joke’ | Independent

Cork dairy farmer Vivian Buttimer switched from liquid to manufacturing milk production last year because the prices being paid by the supermarkets had “become a joke”. Vivian, who milks 160 Holsteins at the historic Ford Farm at Ballinascarthy, outside Clonakilty, fears that the low margins in liquid milk will lead to an exodus of dairy […]

 

Health-Care Price Transparency a Smart Reform | National Review

Health-Care Price Transparency a Smart Reform | National Review

The Trump administration is considering a rule that would require doctors and hospitals to disclose the rates they negotiate with insurance companies, a step toward establishing something that is sorely wanting in the U.S. health-care market: prices. Milton Friedman famously described the four ways you can spend money. You can: 1. spend your own money […]

 

Verizon Announces Pricing for First 5G Mobile Service | Fortune

Verizon Announces Pricing for First 5G Mobile Service | Fortune

The service starts on April 11 in the two midwestern cities and will be “rapidly expanding” to the other 28 cities this year, according to Kyle Malady, Verizon’s chief technology officer. “Not all 5G networks are the same,” Malady said in a statement. The move follows AT&T’s (T, +0.28%) December announcement of 5G mobile service […]

 

Packers fans’ reactions to ticket price increases come from every direction | Green Bay Press Gazzette

Packers fans’ reactions to ticket price increases come from every direction | Green Bay Press Gazzette

GREEN BAY – It’s easier to raise season-ticket prices when your team is successful, but Green Bay Packers fans’ reactions to this year’s increases were not much different than in winning years. Some say they understand the increases, others point out the already high cost of attending games, and, relatively new in Packers world, some say that […]

 

Air fares soar as grounding reality kicks in, DGCA to keep tab on prices | The New Indian Express

Air fares soar as grounding reality kicks in, DGCA to keep tab on prices | The New Indian Express

NEW DELHI: In a big blow to the world’s biggest planemaker, US President Donald Trump on Wednesday announced a plan to ground all Boeing 737 MAX aircraft. “We’re going to be issuing an emergency order of prohibition regarding all flights of the 737 MAX 8 and 737 MAX 9,” Trump told reporters in the White […]

 

This ‘Brutal’ Battle Could Affect Your Next Car Rental | Forbes

This ‘Brutal’ Battle Could Affect Your Next Car Rental | Forbes

In Arizona, two bills are on a collision course in the state legislature, and the outcome could directly affect your next car rental. It’s a drama that’s playing itself out in at least 30 other states, part of what one lobbyist called a “brutal” regulatory battle pitting legacy car rental companies against peer-to-peer car sharing […]

 

Parking mad: average cost of a London car-parking space hits £219,000 | Homes and Property

Parking mad: average cost of a London car-parking space hits £219,000 | Homes and Property

Drivers in the capital pay an average of £219,000 for a spot to park their car, new research reveals. This is almost enough to buy a home in the rest of the UK, where the average house price is £230,776. A standard parking space measures 7.9ft by 16ft, putting the average cost of buying parking […]

Webinar 28-March – Optimizing International Market Launches Through Pricing Insights | PriceBeam

This webinar looks at how pricing should play an integral role in international market launches and how willingness-to-pay research can help optimize the prices in each market.

Imagine a US company wanting to export to Germany: should the German price be just the USD price converted into Euros? It could, but it is likely that German customers have a different willingness-to-pay than US customers, and thus a straight conversion would either lead to a price that is too high, or possibly too low. Both cases lead to loss of profits. So by how much should the price vary when launching there? Price research can tell you, so you don’t have to guess.

While old-fashioned market research would have taken months and cost a small fortune, PriceBeam’s cloud-based willingness-to-pay solution changes all that. Not only can it deliver results in just a few days, but it is also very cost effective as it runs via the cloud. Furthermore, PriceBeam’s price research is available in 109 countries world-wide.

 

Pricing in the Age of AI: What You Need To Do Now | Perfect Price Breakout Session at PPS Spring Conference

Artificial intelligence, machine learning, and automation are rapidly transforming every part of global commerce — including pricing. From retail giants like Amazon to on-demand services like Uber to leading airlines, hotels, and car rental agencies, forward-thinking companies are using AI to turn data into massive returns. This rapid shift is creating opportunities and confusion. To remain competitive in an increasingly AI-driven world, immediate action is critical.

This presentation focuses on the latest generation of AI technologies currently being utilized by companies around the world to match their supply with ever-evolving consumer demand, given changing marketplace factors and consumer behaviors.

ATTENDEES WILL LEARN

  • How companies can develop an AI pricing strategy and get buy-in from their entire organization
  • How to build a framework for their unique needs, or leverage existing frameworks for success
  • How to create consistently achievable revenue goals with AI pricing

 

Value-Based Pricing& the Quantification of Differentiation Value | Stephan Liozu Workshop at PPS Spring Conference

More firms and their pricing leaders are adopting value-based pricing every year. Research shows increased adoption of this progressive pricing orientation moving from 17% in 2008 to about 25-30% in 2018. Part of the deployment process of value-based pricing is the implementation of the Economic Value Estimation (EVE®) process to quantify differentiation value before it can be communicated to customers and capture from them. While adoption of value-based pricing is increasing, pricing professionals still face difficulties across their organizations. In fact, the EVE® process can be fairly mechanical and, with proper training, can be understood fairly rapidly. The challenge remains therefore what to do with the value models and calculated data.

In this unique workshop, we review the latest science on value-based pricing and the EVE® process. We also review how to operationalize the outcome in value-based innovation, value-based marketing and value-based selling strategies.

ATTENDEES WILL LEARN

  • How to operationalize value-based pricing and EVE® in your day-to-day business
  • How to practically link value-based pricing with innovation, marketing, and selling
  • How to respond to challenges in deploying the EVE® and value quantification process

 

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).

 

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.

 

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

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